ESSAYS
DOUG CONELY, VICE PRESIDENT, PRODUCT STRATEGY & OPERATIONS, EXPONENTIAL
If you go to the Exponential blog
PAUL NEWBURY, DIRECTOR, YARD DIGITAL
Big data is a huge buzzword in
the market place, but the concept of huge data sets containing complex information isn’t new. Much of the challenge to businesses trying to implement big data strategies is around understanding what this even means and how it applies to their circumstances. At Yard Digital, we prefer to focus on identifying and capturing all data points, working with our clients to understand what data is available and what applications there are for this data. Because through the application of data, businesses can begin to understand the full customer lifecycle, tie together all of the customer touch- points and understand marketing and sales channel value through attribution modelling.
Much of the challenge in this
respect is also tying together and understanding the activity generated by the large volumes of visitors whose lifecycle consists of multiple devices. Joining data elements like these will allow businesses to understand the importance of supporting multiple devices, giving the ability to create propensity models based on key events and provides numerous opportunities to provide a fluid, integrated and personalised customer experience to all customers across their entire series of interactions.
you’ll see we have long championed big data. The blog is full of posts discussing optimisation algorithms and audience efficiency, insights studies and predictions about the Oscars before a designer-clad foot has touched the red carpet. (We predicted ‘Argo’ for Best Picture, by the way). But apart from funny facts about
opera lovers in Sydney, data exposes who a brand’s audience really is – not who a brand thinks their audience is or who the audience tells the brand they are. Using the data available through thousands of anonymous actions on the internet, it’s possible to identify a brand’s true customers. Data helps brands understand their
customers and how that could impact creative, offers, landing pages or targeting. It can show the story behind seasonal trends or help brands intelligently segment their market. This helps brands make better decisions about their online advertising campaigns using real science rather than gut instinct.
BEN HARRIS, CEO, DECIBEL TECHNOLOGY/ DECIBEL INSIGHT
Big data has the opportunity to
unlock valuable insights for marketers. However, without the correct tools, data simply adds to the confusion and daily bombardment of information facing busy executives. Brands are committing huge
DATA EXPOSES WHO A BRAND’S AUDIENCE REALLY IS”
39 issue 17 may 2013
percentages of their sales and marketing spend to developing high performance websites and online collateral, but very few have succeeded in taking the data these websites provide and turning it into actionable insights. Most marketers can easily pull off huge amounts of profiling data or CRM-based statistics showing everything from bounce rates to click-throughs. But while this information can be helpful for scratching the surface of evaluating campaign success on completion, it does not provide a step-by-step guide to what could be done to improve the website or campaign’s performance in real time. With our own analytics platform we’ve gone back to the drawing board to come up with a system that complements big data, providing tailored advice on how a client can achieve a set of objectives, from increasing basket value to driving up conversions, by placing a value on each visitor. Marketers are inundated with data and reports – the savvy marketer will see past these to find clear, easy to understand ways to analyse this data.
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