At Numis’ 15th Annual Media Conference, our Group CEO Michael Karg gave delegates an insight into how and why marketers are attempting to use ‘Big Data’ to deliver more personalised communication and customer experiences.
“Big data is when the size of the data becomes part of the problem.” – Roger Magoulas
He described to investors how, despite the vast amount of data now available to them, marketers are currently analyzing less than 0.5% of it, before going on to highlight how the promise of big data analytics is not being truly realized by brands; 66% of respondents in The CMO Council’s Routes To Revenue 2016 Study say their delivery on customer promises is ‘hit or miss’.
From Ebiquity’s own work with over 1,000 brands worldwide, he outlined 7 learnings that we share with our clients, who are seeking to understand, and gain transparency in the adtech landscape…
- Data must reside as close to the user experience as possible — not in a data warehouse behind an organization’s firewall
- The ability to track individuals “offline” is converging with the ability to track individuals online
- Marketing mix modelling allows the most impactful budget allocation across consumer touch points— soon, automated algorithms will deliver real-time campaign optimization
- Be aware before jumping on the programmatic bandwagon (Today, only about 25c of every 1$ reach a real audience…for a second or two)
- Due to invalid traffic, fraud and lack of visibility digital is often expensive
- Programmatic is complicating, and increasing the value of TV advertising
- Ad blocking is here to stay