While companies are collecting treasure troves of information about their customers, they are increasingly looking for the right tools and technologies to gain a 360° view that is critical to leveraging the data’s full value.
Zak Pines, VP marketing, Bedrock Data, presented his session, “Overcoming Data Silos to Get a Unified View of Customers” on Tuesday, May 22, 2018 during Data Summit 2018. Pines provided a practical approach to achieving the 360° view of customers, along with the questions the business should be asking to ensure it’s on a growth path.
Data Summit 2018 is taking place at the Hyatt Regency Boston, May 22-23, with pre-conference workshops on Monday, May 21. Cognitive Computing Summit will also be co-located at the event.
Using the NBA as an example, Pines outlined the key issues analysts run into when collecting data.
When it comes to starting the analytical process on data he said not to ask siloed questions like: Which of my marketing channels generate the most leads? Or which of my marketing channels generate the most customers?
Instead focus on these questions: Which of my marketing channels generates the most successful customers? Or Which of my product use cases generates the most profitable customers?
Connecting data across the lifecyle benefits businesses in a few ways such as giving companies the ability to perform better, align across departments, save time, and gives them more freedom to experiment.
“There’s more freedom to experiment if there’s metric mindset,” Pines said. “With a trusted mechanism to measure performance there’s freedom to experiment.”
The problem with silos is the different data schemas, Pines explained. The pathway to success is standardizing the schema in a central warehouse.
“The ability to pivot in either direction and all related data is underpinning of customer 360° analytics,” Pines said. “It’s all about how to take all interactions, make sense, and roll it up at the account level.”
Data Summit 2019, presented by DBTA and Big Data Quarterly, is tentatively scheduled for May 21-22, 2019, at the Hyatt Regency Boston with pre-conference workshops on May 20.
Many presentations from Data Summit 2018 have been made available for review at https://www.dbta.com/DataSummit/2018/Presentations.aspx.