Welcome to the February edition of TrinityP3’s e-news
Talking data: big data, small data, first, second and third party data.
It is easy to get confused with the language around data and data analytics. But Will Scully-Power, the Chairman of Datarati and the CEO of Pascal provides a clear and effective working definition of the common data terms such as Big Data versus Small Data and the role of first, second and third party data. He also discusses the role of data in transforming organisations to be customer centric or customer first and how privacy issues around data will be transformed by technology like blockchain. You can read or listen to the Managing Marketing podcast here
is a great introduction into understanding the role and value of data in marketing.
Data, intuition and fact-based decision making
While many marketers and marketing professionals will rely on intuition or gut instinct to make their marketing decisions, Glenn Granger, CEO at Marketing QED believes that data has an essential role in informing fact-based decision-making rather than simply relying on intuition. He is not talking about data replacing intuition, but more informing decisions with facts. Of course this approach has its challenges but he argues that the benefits of taking a ‘Math Men’ approach to marketing instead of the traditional ‘Mad Men’ style make it worthwhile. You can read or listen to his arguments on the Managing Marketing podcast here.
Data transformation within your organisation
If you point to the data analytics and insights team in your organisation as your data function, Kshira Saagar the Head of Analytics and Data Science at The Iconic would argue you have missed the point. Kshira sees data as part of the supply chain of business intelligence and strategy where customer, business and financial data play an essential role in informing business decision making and driving and monitoring business performance across the whole organisation. It is why an organisation must transform its culture and processes fully to deliver the results data can provide. You can read or listen to his Managing Marketing Podcast on how data can transform your organisation here.
Mark the date for this year’s Mumbrella360
Mumbrella360 is officially Australia’s largest media and marketing event for marketers, agencies, media owners and martech providers is on again this year across three days, June 4-6 at the Hilton Hotel Sydney. Last year 2228 people attended. Make sure you mark the dates down now and don’t miss out.
Data, big data and the transformation of market research
If data can inform what your customers are doing, how often they are doing it, and help you find more of the same, why do we need market research? Mark Fletcher, Director, ShopScience believes market research is transforming and marketers are increasingly using it to get insights into consumer behaviour and for validating the insights and revealing the underlying motivations. Rather than data, or particularly big data, replacing market research, the two work hand in hand to create a more complete picture and understanding of customer behaviour. You can read or listen to his Managing Marketing Podcast on the new role of market research here.
Merging direct marketing tactics with digital to make sense of big data
You hear very little discussion in marketing about direct marketing as either a strategy or a discipline. It appears to have been completely overtaken by digital marketing and data based marketing. Yet Anton Buchner, Managing Partner of Front Foot Marketing and TrinityP3 Senior Consultant believes the discipline of direct or interactive marketing can inform marketers on the best strategy for using the digital technology and data more effectively to engage their audience. In fact Anton argues that rather than focusing on the technology, marketers should start with a direct marketing strategy. You can read or listen to his Managing Marketing Podcast on direct marketing here.
How data is making media planning and buying more accountable
In the past media agencies would access perhaps five or six data sources including proprietary research and the like. But today media agencies are awash with data on customers and their behaviour, media consumption, social values, interests and more. No one appreciates this more than Martin Cass, CEO of MDC Media Partners and Assembly. With a long history of running media agencies and a year at the Wharton Business School where he met and worked with the number crunchers behind ‘Money Ball’ it transformed the way they do media at MDC Media Partners today. You can read or listen to his Managing Marketing Podcast on how data is transforming media planning and buying here.
Here are the most read, most shared and most commented on articles from the TrinityP3 blog in the past month: