Veritas CMO: Manage your data or risk your brand reputation

Veritas Technologies CMO warns marketers need to tighten the reigns on data management or face serious consequences

The data minefield facing organisations today means CMOs need to up their data management game or risk exposing a brand’s reputation and breaking down customer trust, Veritas Technologies CMO, Lynn Lucas, warns.

The warning comes after the recent announcement of changes in global data protection regulations set to be rolled out in May 2018, which provide that any organisation collecting individual EU citizens’ data may face steep fines for any breaches, including mismanagement or inability to delete the data.

“Fines can be steep, up to 20 million Euros for each incident,” she told CMO. “It’s very serious and as individuals and customers, we all expect our data to be respected and kept safe.”

Lucas noted it’s increasingly challenging for marketers to cope with the proliferation of data and in particular, unstructured data, which she sees more and more organisations struggling to effectively manage.

“Businesses are using it more and more to create better customer experiences, to attract customers and retain them better, but they tend not to delete anything,” she said. “There are massive issues that come from that – such as cost, risk – especially with new data protection regulation coming into effect.”

Recent Veritas research indicated 52 per cent of global data is 'dark' - its actual content and value are unknown. To make matters worse, with the average millennial storing twice the amount of data than baby boomers and 30 per cent more than gen X, the volume of unstructured data is expected to grow 39 per cent year-on-year.

“Our research also shows that IT doesn’t know what is in 50 per cent of their data, and they know 30 per cent of their data is actually ‘rot,’ which is an acronym for redundant, obsolete or trivial,” Lucas continued. “So a very small proportion of data is actually known and valuable to the business.”

According to Lucas, the CMO plays a huge role in helping with these data challenges, because in many organisations the marketing leader is not just steward of the brand, but the steward of the customer experience, responsible for collecting and managing the relevant data – and safeguard it to protect the brand’s reputation.

“The CMO needs to work hand in hand with the legal counsel, and plays a crucial role in effective data management,” she said.

Lucas urged other marketers to get up to speed on the latest regulations, partner with the CIO and understand the true impact of mismanaging data and any potential breaches would have on customers.

“I also suggest CMOs to take a proactive stance with the board to study the profile of your organisation and the management of the data,” she said. “But with the changes set to take place over a year away, there is not a lot of time to think about what you wish to do, create your plan, how to put in the right audit systems and the right systems. Some organisations see the change as big as Y2K.”

Lucas said partnering with the data scientists also provides an incredible opportunity to leverage data effectively in order to create more enhance experiences for customers and serve them better.

“I think it’s actually a really exciting time for CMOs, to be partnering with not just IT, but this new crop or league of data scientists,” she said. “And what drew me to Veritas - was that the organisation is fundamentally about helping IT manage data for over 20 years.”

With an extensive background in data management and technology, Lucas took up the CMO’s post in June 2016, after being the VP for enterprise marketing and corporate communications at Veritas. Prior to that she was CMO of Good Powered by Blackberry and held executive positions in a number of tech companies including Cisco and Hewlett-Packard.

“I’ve always been in the technology industry and my education is in electrical engineering, but I learned that I much prefer talking and working with people than sitting in a cube and coding all day long,” she said. “What always attracted me to marketing was being able to explain technology – and now we have an incredible use of data as marketers - that really appeals to the analytics side of me.”

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Data has the power to build or burn brands

A brand can be severely wounded by use or misuse of any of its assets and you could say data has the greatest power of all to inflict damage.

Lucy Acheson

Head of data strategy and customer experience, LIDA

Totto and your inorganic future

At Cannes Lions this year we’ve been treated to many artificial intelligence (AI) insights. It’s one of the major discourses of our time.

Richard Brett

CEO, opr

Personas of one and the rise of ‘always there’ marketing

I’ve got some bad news. The ‘always on’ marketing approach that many companies have only just fully implemented is already out of date.

Nigel Roberts

Founding partner and strategy lead, Yell

The best design always features a minimalist approach to the use of color. Many designers are tempted to use many different colors but us...

Jose Salas

How email marketing automation is helping this Aussie electrical wholesaler enter the digital age

Read more

I read you post full. It's really good .

Yusuf

Salesforce ups the Marketing Cloud ante with Datorama acquisition

Read more

Promotion is difficult. You should be able to do it. Sometimes it turns out bad, and when you turn to professionals, it turns out well - ...

Jordan Samuil

Village Roadshow partners with Lion for pourage rights and promotional partnership

Read more

This is very good news for Australian SMEs as ActiveCampaign is an very powerful marketing automation / email marketing tool that costs a...

Lawrence

SMB marketing automation provider sets up Asia Pac HQ in Sydney

Read more

Completely agree! For the best commercial properties in Mumbai, visit our website - Jagaha!

Gizelle

Salesforce ups the Marketing Cloud ante with Datorama acquisition

Read more

Latest Podcast

More podcasts

Sign in