Organizations must know how to use data to their advantage.

CIO Review Europe | Friday, March 05, 2021

The power of large-scale data analysis is apparent. In practice, though, any modern company executive knows that it's a mess.

FREMONT, CA: Journalists were hailing the start of the Big Data Era ten years ago, although it has not been recalled in a long time now. Big Data became the keyword of the day, and one rapidly understood that it doesn't only solve problems; it makes them bigger. The power of large-scale data analysis is apparent. In practice, though, any modern company executive knows it's complex. How usable one can make their data, regardless of how much one has, determines its actual value. Big Data is difficult to work with. This is especially important in marketing since, while IT owns the data, it is the marketing team's responsibility to use it to produce revenue.

The goal of digital transformation is to increase organizational agility to respond to new opportunities and dangers more quickly, but flexibility comes at a cost: more complexity. It's like attempting to pack for a trip without knowing the weather in the destination: a carry-on won't cut it if one wants to be prepared for anything. This is why average companies employ 120 marketing tools. Data integration, data hygiene, and resource limitations are all increasing problems since toolchains are becoming more complicated.

The problem is not with the sheer quantity of apps; it's with how these disparate toys are held together, if at all. Marketers want to personalize client journeys across more touchpoints. Still, they're attempting to do so using a slew of disconnected systems or only communicating through specialized experts and costly custom solutions. As a result, they continue to evade the holy grail of Big Data marketing: a single, integrated, and ever-evolving perspective of their clients. The Consumer Data Portal was born out of the necessity to centralize customer data from across a fragmented ecosystem (CDP). Some businesses have even developed their own CDPs to collect data through internal channels. However, combining and storing client information is merely the first step. Making data liberated entails making it portable, adaptable, and available to everybody rather than enclosing it in a larger vault.

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