Upcoming Events
No Events

digital-media

Subscribe To Latest Posts
Subscribe

5 habits of effective data-driven organizations

Venture Beat

Want to master the CMO role? Join us for GrowthBeat Summit on June 1-2 in Boston, where we’ll discuss how to merge creativity with technology to drive growth. Space is limited and we’re limiting attendance to CMOs and top marketing execs. Request your personal invitation here!


A senior banker – let’s call him Jack — was on a conference call attempting to close out an acquisition. The stakes were high. It was a multibillion-dollar deal and the negotiation of the final price hinged on the measurement of the target’s EBITDA, the Earnings Before Interest, Taxes, Depreciation, and Amortization. Jack argued that the EBITDA was lower; the opposite party asserted it was higher.

In the middle of the lengthy, convoluted discussion of the numbers, a junior associate realized that, in fact, the other side was right. She passed Jack a note letting him know this. Jack stared at the associate with contempt and proceeded to argue even more vehemently for the lower price. He literally just spoke louder than the other party, cutting them off at every opportunity. And he won. The other side just gave up. In the associate’s words, “I knew Jack was wrong. Jack knew Jack was wrong. The other side knew Jack was wrong, and Jack still won!”

How can we build teams and organizations that don’t succumb to the jerk who just yells more, argues louder? We all want to be data-driven instead of being driven by supposition, ego, and ideology

Over the last two years, I’ve had the opportunity to meet with analysts and leaders inside data-driven organizations as well as many that were not so data driven. Surprisingly, I’ve learned that being data driven has little correlation to size or geography and only a marginal correlation to industry. Data-driven companies range from small health care firms to large banks and even include mid-sized non-profits. And while the traditional categorizations of businesses have little to offer, I’ve observed a few common characteristics:

1. Size doesn’t matter, but variety does. You would think that a data-driven organization has a lot of data, petabytes of data, exabytes of data. In some cases, this is true. But in general, size matters only to a point. For example, I encountered a large technology firm with petabytes of data but only three business analysts. What really matters is the variety of the data. Are people asking questions in different business functions? Are they measuring cost and quality of service, instrumenting marketing campaigns, or observing employee retention by team? Just getting a report at month end on profits? You’re probably not data driven.

2. Everyone has access to some data. Almost no one has access to all of it. There are very few cultures where everyone can see nearly everything. Data breach threats and privacy requirements are top of mind for most data teams. And while these regulations certainly stunt the ability of the company to make data available, most data-driven companies reach a stage where they have developed clear business processes to address these issues.

3. Data is all over the place. One would think that the data is well organized and well maintained — as in a library, where every book is stored in one place. In fact, most data-driven cultures are exactly the opposite. Data is everywhere — on laptops, desktops, servers.

Continue reading… 

Demographic and intent data solutions company Madison Logic Data rebrands as Bombora

Talking New Media

Bombora was created as a new entity to serve as the primary industry source for consolidated intent data for the B2B market

NEW YORK, NY – April 13, 2015 – Madison Logic Data, the premier provider of demographic and intent data solutions for leading B2B marketers worldwide, today announced that it has rebranded as Bombora. Bombora was created as a new entity to serve as the primary industry source for consolidated intent data for the B2B market.

Bombora’s growing database of interest areas for 245 million business decision makers and more than 2 million unique companies worldwide, creates efficiencies across all aspects of the B2B sales and marketing stacks, including email marketing, site personalization, inside sales, lead scoring, and content creation. With more than 1 billion business interactions each month, Bombora has become the B2B standard in providing scale for B2B applications.

bomboralogolgTestNew 300x85 Demographic and intent data solutions company Madison Logic Data rebrands as Bombora“Behavioral intent data has proven its worth as a vital targeting tool, but unfortunately, most B2B marketers’ access to that data is fragmented, making it more difficult to gain a holistic view of one’s customers and prospects,” said Bombora CEO Erik Matlick. “Bombora breaks down the data silos that cause that fragmentation, consolidating data to enable the entire B2B marketing industry to better understand what companies and individual end users are interested in at any given time.”

During its six-month incubation period as Madison Logic Data, Bombora has already provided an unrivaled volume of high-quality B2B intent data that enables marketers to improve efficiencies and boost engagement throughout the customer journey. Here is what partners and customers are saying about Bombora:

“Bombora allows us to offer granular interest-based targeting to our advertising partners, as well as next generation post campaign analytics,” says Ann Marionovich, Vice President, Advertising Strategy at Forbes Media.

Continue reading… 

Video: IT Mergers & Acquisitions (M&A) Across The 3rd Platform

IDC PMS4colorversion 1 Video: IT Mergers & Acquisitions (M&A) Across The 3rd Platform

How are vendors, IT enterprises, and investors making decisions with 3rd Platform technologies? Since 2012, M&A deals have been skyrocketing in both deal volume and value. In 2014, total IT disclosed deal volume jumped to $476 billion and had almost 1,300 deals associated with cloud, mobile, social, and big data technologies.

IDC’s Vendor Watch Service provides expert guidance on smaller, private tech vendors before they hit the public radar.

Click here to watch IDC Tech Talk videos: https://www.youtube.com/user/IDCTechTalk

IDC’s TechTalk highlights the latest industry trends for IT Executives, brought to you by IDC’s leading analysts. Browse topics from Cloud Computing, Mobility, Social Business, Big Data and more

Computerworld’s 2015 Data+ Editors’ Choice Awards: A Call for Case Studies

DATAplus Computerworlds 2015 Data+ Editors Choice Awards: A Call for Case StudiesComputerworld is seeking case studies that illustrate intriguing ways data analytics is being used everywhere from research to commerce.

Do you have an interesting case study on mining data for analysis, prediction and/or boosting the bottom line? We will showcase a select group of the most innovative and fascinating case studies on Computerworld.com in September 2015.

To submit a case study, please go to https://response.questback.com/idg/dataplus15/

Please email specialprojects@computerworld.com with any questions.

 

CMOs Focus More On Tech To Automate Media Decisions

MediaPost

Blake Cahill, global head of digital and social marketing at Philips, manages more than 70 marketing technologies.

He is one of a growing number of marketing heads becoming inundated with technology as media silos crumble and data integrates to support cross-channel and cross-device marketing and advertising.

“Just in the customer relationship management sector, we have three or four major pieces of technology, and then underneath another three or four to manage the customer data,” Cahill said. “In the social space, we have about seven or eight pieces of technology to help with social listening, publishing, and analytics.”

Cahill is looking at technology investments to better automate media decisions and ecommerce, because as the company builds more Internet-connected products, consumers will purchase service contracts from the brand, rather than third parties like Amazon. He is also looking at adding technology around affiliate and media marketing as it relates to the triangle between search engine optimization, social optimization, and ad-serving.

For years, Gartner has been touting the majority shift in spend on technology from CIOs to CMOs. Cahill references the research firm’s forecast, which suggests that within the next few years, marketing will see CMOs spend more on new digital technology than CIOs. Not at Philips, he said, admitting that it depends on the company.

“It may be true if you’re a start-up like Uber and the model is built around marketing and customer engagement, but if you’re a larger company with an established infrastructure, the statement isn’t necessarily true,” Cahill said. “Marketing departments are making massive investments in technology to drive customer relationships and media.”

Gartner estimates that the average B2C relies on more than 50 applications and technologies to support marketing. By 2018, CIOs who build strong relationships with CMOs will drive a 25% improvement in return on marketing technology investment.

 

Read More… 

Top Tips On How To Prioritize Big Data

IDG Connect 0811 Top Tips On How To Prioritize Big Data

Nikhil Govindaraj is Vice President of Product at Moxie where he is responsible for all aspects of product management, product design and strategy. Nikhil has more than 15 years of experience in CRM, enterprise collaboration and multi-channel contact centres.

Nikhil shares his tips on how businesses can harness big data to enhance the customer experience.

For many companies, “big data” has become a must-have strategic tool to win more business and outsmart the competition. In particular, consumer retail businesses rely on the data they have collected about their customers to deliver everything from personalised advertising campaigns to new products that precisely target each individual’s interests.

Unfortunately, many companies make the mistake of using big data to solely focus on the “buy” side of the business, but the most successful retailers understand that the overall customer experience is just as important as the sale itself.  These companies leverage big data throughout the customer journey and during every engagement in an effort to increase customer satisfaction, loyalty and, yes, purchases.

These are five key ways your company can harness big data to enhance the customer journey.

1. Deliver the In-Store “Human Touch” Online with Digital Cues

Physical stores have one great advantage: Sales staff and customers engage face-to-face. This gives sales associates the opportunity to “read” customers, using visual data cues to make judgments about how best to approach a customer, such as how long someone has been comparing two products. Armed with this information, sales associates tailor their treatment to customers’ needs to best assist them with purchases. And it works—conversion rates for stores range from 10 percent for apparel to 100 percent for groceries, outpacing Internet conversion rates of just 1-3 percent (Deloitte).

When it comes to online stores, companies have focused on driving prospects to their websites, but then letting them wander around the site without any assistance or guidance. It’s one of the main reasons conversion rates have remained abysmally low. Online brands need to emulate the in-store experience by using digital cues to identify when a customer would benefit from attention to complete a transaction. For example, did the customer get an error message when processing a payment? If so, immediately offer a live chat session with an agent to help the customer solve the problem and complete the purchase.

Read More Tips Here… 

IDC Introduces Russia ICT Market Outlook

IDC PMS4colorversion 1 IDC Introduces Russia ICT Market Outlook

IDC launched Russia ICT Market Outlook, a new quarterly service tracking the supply and consumption of IСT products and services in the country in the context of recent dramatic economic and political events.

Since the 1990s, suppliers to Russia have had to deal with several periods of instability. However, market declines have always reversed quickly, and it became rather easy to take a stoic view of Russia’s volatility. The situation changed in 2014: The Russian economy, and subsequent IT demand, are now in what looks like a lengthy period of contraction. According to the latest IDC data, the overall IT market in Russia declined 16% in 2014 and an even more dramatic decline is forecast for 2015.

In 2015, Russian ICT consumers will be forced to readjust their spending in the light of the new economic reality. Business customers will be reviewing all aspects of their current spending, including supplier contracts, choice of supplier, and IT consumption models. In the state and state-owned sectors of the economy, additional regulations covering IT procurement and measures favoring local suppliers can be expected.

“Commerce has become politicized, and it’s clear that both market structure and the potential value of deals have been negatively impacted,” says Robert Farish, Vice President of IDC Russia/CIS. “For the last two decades, suppliers to Russia have had to deal with many operational challenges but this has always been within the context of a growing and modernizing economy gradually opening and integrating with the rest of the world,but from 2014, it looks like these long-term processes are stalling or even beginning to reverse.”

With this in mind, IDC today introduced its Russia ICT Market Outlook, designed to address challenges faced by ICT suppliers in re-assessing the situation in Russia and quantifying how ongoing changes are likely to impact demand in the coming quarters. The new service covers the key developments that strongly influence the outlook for Russia in the short and medium terms, including:

• The impact of sanctions against Russia in terms of IT investment

• New government polices introduced as a response to these sanctions

• Currency devaluation and what the overall financial turbulence means for IT demand

• What to expect in different customer segments in 2015

Read More… 

CIOs Lead Collaborative Team in Growing Big Data and Analytics Initiatives

Dataversity

A new article reports, “IDG Enterprise— the leading enterprise technology media company composed of CIO, Computerworld, CSO, DEMO, InfoWorld, ITworld and Network World—announces the release of the 2015 Big Data and Analyticsresearch, which spotlights an increase in the number of deployed data-driven projects over the past year and reveals that many organizations are still planning implementations, as 83% of organizations categorize structured data initiatives as a high or critical priority. IT decision-makers (ITDMs) also provided insight into organizational data and analytics purchase plans, security concerns and the top vendor attributes when evaluating solutions in 2015.”

The article goes on, “Deployment of data-driven projects has increased by 125% in the past year, with 27% of organizations already in deployment. The momentum continues with an additional 42% of organizations still planning implementation. As more ITDMs deploy data initiatives, it provides clarity into the amount of data that needs to be managed. Similar to 2014, organizations are currently managing an average of 167.3TB of data, and this amount is expected to increase by 48% over the next 12 to 18 months. The largest contributors to this data growth are customer databases (63%), emails (61%), and transactional data (53%).”

Continue Reading…

Getting Maximum Value from Data Marketing

IDG Connect 0811 Getting Maximum Value from Data Marketing

A social media expert with over 15 years’ experience in digital, Christian works with some of the biggest platforms and programmes on TV, taking social media data and making it into relevant, interesting and engaging content. He currently works at performance marketing agency Albion Cell, delivering data-driven social media strategies for clients including King.com, Jose Cuervo and Ubuntu.

Marketers are often unduly daunted by the prospect of big data, possibly because the sky really is the limit when it comes to what can be done and how much can be collected. There is also a problem in that despite it being a ‘hot topic’ for so long, most businesses still aren’t leveraging new data technologies and techniques nearly enough.

Data presents an enormous opportunity to better understand your customers and their purchase behaviour, and then hone your marketing based on these insights.

Even if you are planning to outsource your data efforts to a consultant or agency, it’s a good idea for any marketer to have a basic, practical understanding of the key aspects involved. The more intelligently targeted your marketing is, the more efficient it will be.

1) Choose the right data storage for your business

There are effectively two types of data storage: on-premise or off-premise. While off-premise is more cost effective (and used successfully by online-only businesses like ASOS and Amazon, which have been able to create their systems from scratch entirely in the cloud), there are always issues of access and privacy or security. On-premise is more expensive due to high server costs, but gives businesses full control over the data – banks, for example, use data warehouses to minimise risk. When you’re deciding which system to use, consider your priorities and choose accordingly.

It should be noted that some businesses do a hybrid approach, but the challenge here comes when you want to combine your cloud data with any on-premise data to do deeper, more thorough marketing. Lloyds Bank has successfully built a very sophisticated hybrid system but there currently isn’t a way of combining on and off-premise data very easily or efficiently.

2) Only store what you need

The key point you should think about is what, from the enormous volumes of data you can collect, you actually need to collect and store. If you store only the relevant data you can be far more efficient.

Read More Here…

How publishers make native ads newsy

DIGIDAY

Native advertising was supposed to be marketers’ answer to banner blindness by creating ads that consumers would want to read and share. But by the time a native ad gets through all the necessary approvals and is shaped in a way that can scale, the result is often evergreen — and bland.

But a handful of publishers are trying to create native ads that play off the news cycle, betting that the more timely the post is, the better its chances of being read and shared. There are limitations: It is labor-intensive and hard to scale. “You really have to be resourced and in a philosophical place to be able to respond in a timely enough manner to play in the news cycle,” said Mark Howard, CRO of Forbes.

And as the history of real-time marketing disasters show, marketers have to know when it’s appropriate for their brand to weigh in. “The mistake a lot of content marketers make is creating content that is outside of what would be acceptable for that brand,” said Todd Sawicki, CEO of Zemanta, a native ad platform. “The problem is assuming that every event or news cycle needs a comment.” And newsy native ads may be suited to top-of-the-funnel messages, but more brands are moving to classic brand-tracking metrics to evaluate the success of their native ads.

So with the caveat that not all brands can pull it off, here’s how four publishers are marrying native and the news.

Bloomberg Media Group
The financial publisher wanted the quality of its native ads to be as good as editorial content, if not better. “It’s always a challenge to think about how we can engage people in native content, working against the sponsored content slug,” said Zazie Lucke, head of global marketing at Bloomberg Media. “It has to meet the bar of editorial, and it has to be engaging, and in some cases it has to be even more engaging to get over the hump of being sponsored content.”

So Bloomberg came up with a product called Riding the News late last year that would respond to breaking news. Dedicated content and data employees pull trending topics in the advertiser’s industry and meet frequently with the client to act quickly on the news. For an asset-management company doing business in Japan, for example, Bloomberg responded to Japan’s quantitative easing announcement with a story within a week that juxtaposed that country’s experience with that of the U.S. (Bloomberg said it wouldn’t name the client because it didn’t have approval to do so.

Read More…