CMO lists eight things we took away about big data and data analytics from Adobe Digital Marketing Summit 2014
5. Technology investment is a must if you’re hoping to utilise data successfully
To really get on top of multiple data sets, however, you are going to need technology; and lots of it. Lenovo director of global business intelligence, Ashish Braganza, outlined how the PC manufacturer has created a big data technology stack and customer intelligence platform nicknamed ‘Luci in the Sky’ (Lenovo Unified Customer Intelligence platform) to tackle the challenges of processing massive swathes of customer data from more than 60 data sources daily into actionable insight. These data sets include SAP, the Lenovo.com website, customer surveys, call centre information and various other sources.
Based on the Hadoop file system, the list of technologies within Lenovo’s stack is considerable and stretches from a data integration platform layer, through to the LUCI cloud and internal platform. On top of this are a range of visualisation and predictive analytics tools including Tableau Software, IBM SPSS, SAS Enterprise Miner and Adobe Insight.
The businesses supported by Lenovo’s big data stack include online customer behaviour, social media analytics, customer segmentation, profitability, campaign performance and marketing dashboards.
“We didn’t get to have a big data technology platform at once; we went through a maturity curve at Lenovo,” Braganza pointed out. “A lot of organisations start with Excel, and MS Access. Pre-2007, we were doing a lot of SQL… then in fiscal year 2012, we were on a no SQL database structure. At the beginning of this year, we launched our LUCI platform.”
6. Data-driven marketing does work
Hard examples of how data is being used effectively by brands are still few and far between, largely because those who have worked out how to make data an asset don’t want to give their competitive advantage away.
From what we could gather at several case study sessions, though, being able to process information and use it to modernise customer engagement does work.
As just one example, US-based beauty retailer, Ulta Beauty, shared how it is using data to fuel campaign management and drive stronger customer loyalty. Historically, the marketing team had to ask IT for information from 38 siloed customer databases across seven individual systems, making responsive marketing a challenge.
Unifying these databases and giving it a single view of loyalty program holders has helped to drive up EDM open rates, and increase sales per delivery by 141 per cent.
7. Data-driven marketing is transforming the role and responsibilities of the CMO
Adobe CMO, Ann Lewnes, pointed to the data-driven nature of marketing as the catalyst for the rise and transformation of the chief marketing officer.
“One of my favourite quotes from our CEO, Shantanu Narayen, is that he expects the CMO to soon have a better pulse on the business than the CFO because we’re so immersed in the numbers,” she commented.
For Audi of America general manager of digital technology and strategy, Jeff Titus, embracing agile ways of working and quicker product cycles are vital for a modern CMO. He also stressed data know-how as one of the most important tools in the marketer’s arsenal today.
“Every marketer needs to understand that when you put something out there, you should have to measure it,” he said. “That’s not referring back to a chart, but in as real-time a way as possible. Get the team oriented to that, and look at outcomes, not just the journey and what might happen and don’t try to segment down to the last level.”
8. Big data is like teenage sex
Again and again, speakers during the Adobe Summit used Dan Arely’s quote comparing big data to teenage sex to illustrate the state of knowledge today: 'Everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it.'
What should marketers read into that? CMO’s view is that most organisations recognise there is still a lot to learn before they truly get a handle on big data – even though most of them won’t admit it.
So if you are still struggling with how to best capitalise data-driven decision marketing in your organisation take heart; you’re not alone. But what’s equally clear is that those who aren’t taking those first steps now, could well end up 30-year old virgins.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia
In the third and final episode of our 3-part CMO50 video series exploring modern marketing and why it’s become a matter of trust, we’re delighted to be joined by Telstra’s former CMO and now digital services and sales executive, Jeremy Nicholas, and Adobe VP Marketing Asia-Pacific and Japan, Duncan Egan.
Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.
Why is it there is no shortage of leadership development materials, yet outstanding leadership is so rare? Despite having access to so many leadership principles, tools, systems and processes, why is it so hard to develop and improve as a leader?
As a nation united by sport, brands are beginning to learn money alone won’t talk without aligned values and action. If recent events with major leagues and their players have shown us anything, it’s the next generation of athletes are standing by what they believe in – and they won’t let their values be superseded by money.
