We’ve all heard the saying “More is always better”. But when it comes to data, having more isn’t enough. Most brands are able to acquire plenty of data but are often left frustrated and unsure about how to use it. Having actionable information is the key to turning data into a brand’s most valuable asset.
Brands typically face two fundamental challenges when trying to make data actionable.
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It’s normal for organizations to house data in multiple systems. Unfortunately, this makes it incredibly difficult for teams to access and for systems to sync properly, especially if the data is incomplete or inconsistent. By creating a single source of truth that is accessible by all teams and systems will help ensure accuracy and speed.
Organizations must also connect this source of truth to internal and external systems that rely on data to create personalized experiences. In order to perform at the speed expected by today’s always-on consumer, systems must also have immediate access to date.
Connecting Data to Value
Brands must step back and align data with what is most valuable: their customers. Customer data platforms (CDP) and data management platforms (DMP) help brands connect disparate data and determine where they can get the most value. They accomplish this by solving the challenge of identity resolution. These platforms align online and offline data and present the relevant elements to the individuals who manage it.
By investing in modern, connected, and people-aligned data strategies, brands can ensure every decision made uses the best insights available. This approach to data can lead to increased value and maximize customer engagement in real time.
For more information on using data and other topics, download our guide Nine Trends Shaping Digital Marketing in 2019!