Big Data, in short, has gone mainstream. But that raises an important question: If everyone is “data-driven” in both theory and action, how can businesses carve out meaningful competitive differentiation through their use of information? What room exists for real commercial advantage when everyone in the marketing ecosystem is advancing from the novice to expert stages of their respective data maturities?
The above is an excerpt from the foreword of the white paper Data as Competitive Advantage. Oracle Marketing Cloud worked with the Winterberry Group, the IAB, Dun & Bradstreet, Accordant Media and AddThis on research that highlights how a combination of businesses – agencies, brands and publishers alike – are using “data” in their marketing businesses as well as their perceptions of what’s working and what could be better. Most of the individuals who responded to this research have used a Data Management Platform (DMP) within the last three years or less, which represents rapid growth!
Given the rate of adoption and interest, we helped produce this research as a way to better understand how the marketplace is considering “data” and how we can better address the needs of the marketplace through our own technologies and services. That said, here are a few of the key takeaways from the Data As A Competitive Advantage white paper:
All of the above points suggest that while there is much greater appreciation and understanding for what becoming “data driven” can mean for a marketer, the practice is still largely nascent and the understanding for how to use specific technology to address specific use cases is still being assessed by most marketers with varying degrees of success – due to operational items, organizational and potentially even technology providers.
So, while some more sophisticated marketers have tried and succeeded with becoming more data driven, the success hasn’t been widely repeatable and the results have yet to be consistent.
We continue to provide guidance to our customers about “how” to consider “data” success in their own unique organizations and knowing what will work, who will champion, and what success looks like before any technology decision is made. Enabling data success in any organization requires so much more than technology alone.
Download Data as Competitive Advantage and see for yourself the role that data plays in driving competitive business advantage across a range of advertising, marketing and digital media use cases.