Survey : CEOs Embrace Data , Analytics
Something Old , Something New
Survey : Most Effective Uses of Marketing Data
BIG DATA : Facts , Figures , Opinions , and Resources
It seems franchising is finally hopping on the big data bandwagon in a meaningful way as advances in technology make it more affordable , understandable , and actionable . For some it ’ s old hat , while for others it ’ s still a mystery waiting to be unraveled . Here are several different takes , from CEO and marketer surveys to tech-talk on how data can help companies better know — and better engage — their customers .
Survey : CEOs Embrace Data , Analytics
Each year , PwC publishes its Annual Global CEO Survey . This year ’ s includes input from 1,409 CEOs in 83 countries . Here ’ s what the report had to say about customers and data :
“ At the top of CEOs ’ minds is the use of technology to better interpret the complex and evolving needs of customers in order to better engage with them . Nearly a quarter of CEOs ( 24 %) feel they don ’ t have enough information about what customers or other stakeholders want , and a recent PwC survey showed that the top-three challenge most cited by global operations leaders ( 63 %) is understanding what customers value . Sixty-eight percent of CEOs back the power of data and analytics to deliver these results and 65 % favor customer relationship management ( CRM ) systems .
“ Indeed , CEOs ’ growing faith in , and dependence on , data and analytics signals just how far a data-based , scientific mindset has penetrated even the complex world of stakeholder management . And as big data , cloud computing , and the Internet of Things become even more important in modern business , the role that technology plays in helping understand wider stakeholder expectations is also being applied to meeting and even surpassing those expectations .”
Something Old , Something New
Tamara Dull , director of emerging technologies on the SAS Best Practices team , wrote a 5-part blog last year about big data . This is an excerpt . The full series is available on the SAS website .
“ I ’ m here to tell you that big data is not new . Yet , with all the hype these last few years around these two little words , you ’ d think we ’ ve discovered the Holy Grail . Let me share with you the dirty little secret about big data : it ’ s just data — the same data we ’ ve had for decades .
They say that 20 percent of the data we deal with today is structured data . I also call this traditional , relational data . [ Examples she cites include POS , CRM , financial , and loyalty card data .] The other 80 percent is semi-structured or unstructured data , and this is what I call ‘ big ’ data . [ Examples she cites include mobile , data , email , photos , blogs , and GPS data .]
Are any of these data types new ? Of course not . We ’ ve been collecting , processing , storing , and analyzing all this data for decades . What we haven ’ t been able to do very well , however , if at all , is mix them together .
So here ’ s what ’ s new : We now have the technologies to collect , process , store , and analyze all this data together … at a fraction of the cost and time of our traditional , relational systems . You can ’ t do that with your data warehouse .”
Survey : Most Effective Uses of Marketing Data
Ascend2 conducts online surveys throughout the year , querying its database of respondents on timely topics . Here are the results of two surveys about big data .
What are the most effective uses of marketing data ?
59 % Campaign targeting 48 % Content personalization 44 % Customer journey analysis 41 % Sales attributed to marketing 37 % Predictive analytics 28 % Account-based marketing 23 % Market research
What are the most important goals of a data-driven marketing strategy ?
70 % Personalizing the customer experience 43 % Acquiring new customers 40 % Measuring data-driven ROI 39 % Targeting individual market segments 28 % Integrating data across platforms 28 % Growing the marketing database 24 % Enriching data quality & completeness
What are the most effective datadriven marketing personalization tactics used ?
47 % Email message personalization 43 % Targeted landing pages 38 % Contact data segmentation 37 % Web content personalization 36 % Triggered email campaigns 35 % Retargeted advertising 34 % Lead intelligence collection
What are the most difficult datadriven marketing personalization tactics to execute ?
50 % Lead intelligence collection 48 % Web content personalization 41 % Contact data segmentation 34 % Retargeted advertising 27 % Email message personalization 26 % Triggered email campaigns 23 % Targeted landing pages
50 Franchiseupdate ISSUE III , 2016