Advertising Week Europe

Advertising Week Europe 2017 Official Guide

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INNOVATION Predictive Analytics Gathering data and understanding what your target audience has done in the past has been terrific, but actu- ally predicting what they'll do next is game-changing. "We are now reaching an era of predictive capability, allow- ing us to use both data scientists' minds and complex algorithms to forecast what will happen, and often why," says Dunmall. And as the "en- gine" learns, he adds, it will only get better at predicting outcomes. Consumer Privacy vs. Value Right now, millennials don't seem too concerned about data collection as long as they can consume content without "paying" for it. But that could change as they realise how much their privacy is being compromised. In addition, the government might step in and impose greater controls on data collections, according to Dunmall. Asking permis- sion and explaining why you need the information is a good way to maintain strong relationships with your custom- ers, and in doing so you might just mitigate the consequences of imposed privacy legislation. Demand For People Who Are Experts In Data Science And Analysis Dunmall expects the need for "talent for a new, sophisticated language" will continue to grow. "There aren't enough data scientists out there who can synthesize and story-tell to make data- driven insights come to life for brands," he says. Brands that have good data partners and employees will have a leg up on the competition. Data will continue to reign, because the right information still holds the key to unlock consumers' needs and desires. One thing is for sure: in 2017, the best data will win. Using Real-Time Data Right Now Harnessing real-time data to guide consumer strategies has so far only scratched the surface, but now it's set to grow. "Whether it's consumers re- acting to a breaking news story, stock market fluctuations or just the weather, all these forms of 'temperature checks' allow marketers to iterate on strategies, become more personalised in their en- gagement and more customised in their approach," says Dunmall. Taking A Broad View Of The Consumer Across The Buying Spectrum This year, we'll be eliminating silos and will finally be able to get a clearer picture of the customer journey across digital footprints. From browsers to devices, from apps to screens, a more holistic view will be pos- sible, Dunmall notes. Companies need to take advantage of this to achieve their mar- keting goals. Making Big Data Simple By now, brands know enough about data to have done a good job of gather- ing it and using it. Yet data can still be complicated and seem intimidating, which can stop companies from using it to its fullest potential. That is going to change. "Whether through consolidated data platforms, or partnerships with companies that are capable of process- ing vast amounts of information and simplifying accordingly, companies will rationalise and clean the volume of data available" and in the process make it simpler, Dunmall says. The Six Biggest Data Trends for 2017 A Look At How Analytics Are Still Impacting Marketing Communications Data, in all its glorious forms, will infiltrate a host of marketing strategies again this year, and savvy marketers will be mining this trea- sure trove to identify leads, target messaging more effectively and guide consumers through the buying journey ever more seamlessly. So, what do you need to know about what's coming around the corner for data? We asked Richard Dunmall, Chief Revenue Officer at Media iQ, to identify the hottest trends. by Bobbi Dempsey AWE 2017 196

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