We’ve previously explored why managing big data for better customer intelligence starts with knowing:
- What data your company collects
- How you use that data
But it’s not just about using data in the same old way. It’s crucial that companies find new ways to leverage data that benefit both the business and its customers, audience and/or clients.
At Digital BrainFest, we caught up with several thought leaders to get their take on new ways companies can use to customer data. Check out the exclusive video interviews below.
Two Perspectives on New Ways to Use Customer and Audience Data
Charles Caldwell of Logi Analytics shared some insights on creative uses of data at the 2014 Infinitive Digital BrainFest, starting with the story of how Amazon has used analytics and data to better serve its customers and reinvent the retail business model:
Caldwell explains why Amazon’s method of understanding consumer behavior remains his favorite example of how to use customer data inventively:
If I can deliver more value to my customer, be an advocate for my customer, that’s going to create disruptive business models.
As Caldwell explains, Amazon has been using this strategy for years – and is still employing it effectively today.
He does, however, raise the question of “not crossing the creepy line” when so many people seek anonymity online, in part because they don’t know who may be collecting data on them – and how that data is being used. Caldwell acknowledges that a constant challenge in the digital space will be to help reassure consumers that data protection is a key priority (such as efforts by publishers to understand and control data leakage).
At the end of the day, customer experience, audience targeting and fulfilling client needs are all made better by better understanding data. In this video, Rock Irvin of Cars.com discusses the importance of audience data at Digital BrainFest, especially when it comes to publishers’ ability to enable new initiatives in programmatic advertising, like real-time bidding (RTB):
As Irvin explains, activating audience data across channels, platforms and efforts enables improvement across all facets of the digital business:
The more we get to do that, the better…our customer experience is going to be, the more targeted our advertising is going to be for our clients, and quite honestly, the more amazing our site is going to be.