Refining Your Approach to Digital Intelligence

Recently, the CMO of a Top 50 Retailer shared that they do have their customer marketing data stored within individual profiles, but they still can’t leverage it in a meaningful way because it’s trapped in silos. With all those profiles in separate systems (email, analytics, segmentation systems, etc.), it limits the ability to bring together the comprehensive data they need to create a unified view of the customer and to support meaningful digital intelligence.

He’s not alone. With all the data and basic analytics available to today’s marketing teams, many struggle to translate those into meaningful metrics and strategies that can help move their business (and ROI) in the right direction.

A recent report from Forrester Research, Inc. highlights this dilemma and calls for “actionable analysis” instead of the reports and metrics found in traditional reporting. In the report, “Adapting Measurement for Digital Intelligence,” Forrester analyst Joe Stanhope writes that in order to get the most from your data and insights, you don’t have to measure everything, just measure the right things.

Get a copy of the report here.

It seems that jumping from one spreadsheet to the next, with weak metrics and partial information, marketers may be missing some key points while trying to process the layers and layers of data. Also, your approach to analysis, or what metrics should be measured, should be in alignment with both your business model and your overall goals and objectives. Once those goals are established, you’ll have an easier time filtering and adapting the information that’s available for more meaningful analysis.

In order to break down silos and effectively use all your data, many thought leaders recommend having an enterprise data management platform in place. A data management platform brings customer data from multiple sources together in a single unified environment. Instead of having profiles stored in separate systems, a DMP allows a single set of profiles to be automatically updated with data from multiple sources and channels. This helps overcome several challenges mentioned in the report. Not only does this provide a complete view of each customer, your data is now easily accessible and ready to use to inform messaging, support actionable analytics. It also offers the convenience of a dashboard view so you can monitor, measure, and respond with greater agility.

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