尊敬的 微信汇率:1円 ≈ 0.046166 元 支付宝汇率:1円 ≈ 0.046257元 [退出登录]
SlideShare a Scribd company logo
The Intelligent
Marketer
POWERED BY DIRECTMAIL.COM
MAY 2013
Mining Big Data
The Value of
Data Economics
The concept of big data might seem overwhelming if you’re a mid-sized commercial brand. Who has
the time or energy to study in-house data, let alone the myriad of data vendors promising immediate
results? However, if you stick with the status quo, you’re likely to be spinning your wheels and letting
your competitors pass you by.
What are the driving forces behind your data decisions?
According to the McKinsey Global Institute, a retailer using big data to the fullest has the potential to
increase its operating margin by 60 percent. To start moving your company towards its potential, take a
hard look at your data economics:
DATA ECONOMICS KEY QUESTIONS
1. Do you have timely access to extract and report on your data?
2.
What would you list as your Top 3 challenges for getting “more” out of your current
customer data?
3.
What is the level of targeting and personalization you can apply to your data?
What is your segmentation strategy?
4.
How are you integrating online and offline data? Do you know your customer’s
digital footprint (e.g., social, mobile, direct, online)?
5. Are you using additional data to further understand your customers?
6. Do you have an inventory of all available external data sources?
7.
What is your cost to acquire a new customer?
Are you measuring customer lifetime value?
8. How do you measure your data effectiveness?
If you’re not sure about the answers to those questions, then you need to find a data expert, someone
who can turn the information you have into intelligence you can use. The best data experts are also
ambassadors, serving as a liaison between your company and outside data suppliers.
2
Mining Big Data
The Value of Data Economics
3
Have you considered access and availability?
Data specialists are able to access information that is not currently
available to you. They will also likely have tools and sources that can
maximize your assets.
“[A lot of organizations] can look at products, they can look at customers,
and they can look at sales, but they can’t tie those things together. Being
able to look at those things in an integrated fashion is really the foundation
you need” explains Rebecca Shockey, Global Research Leader for Business
Analytics at the IBM Institute for Business Value.
Develop a passion for the data landscape
Whether you insource or outsource, you need to have a process in place.
IBM recommends targeting a single problem that you would like to address.
For example, let’s say that you feel that your marketing ROI is lower than
you would like. It could be that you are focused on list quantity over quality.
A data expert will start by extracting insight from your current data. What
do you already know about your customers? Geographic, demographic,
and psychographic profile can often be done in minutes. An expert can
also tell you which mix of data sources and attributes have been successful
for similar clients.
Marketing is a science and an art. Armed with data intelligence, your
firm’s creative minds can then coordinate multi-channel marketing
initiatives, with the ultimate goal of maximizing your data’s value and
driving increased revenue.
Sources: McKinsey Global Institute’s “Big data: The next frontier
for innovation, competition, and productivity” report and IBM’s
“Big data: Why it matters to the midmarket” report.
For over 40 years, DirectMail.com has been working with clients on the most
sophisticated multi-channel marketing challenges. We are a company that
is passionate about continuous learning and we are excited to share our
expertise and best practices with a broader audience and the industry as a
whole. Through Intelligent Marketer, we hope to provide practical solutions
and tools that marketers can leverage to make their jobs easier in the short
term and to generate incremental results in the long term.
“We are a leader in the regional retail
product category and have prided
ourselves in increasing marketing results
dramatically over the last 18 months.
But as we formed a ‘big data’ team with
our partners to evaluate how to stay
competitive in the future, we realized
how far behind we were relative to
best-in-class organizations in other
industries. Our customer lifetime value
was reduced by over 17% due to not
completely understanding the data
landscape. Our number one goal in the
next 24 months is to recapture this lost
margin through data optimization.”
– CMO, Mid-sized firm
Regional Consumer
Product Company
WHAT WAS YOUR
“ Ah Ha”
MOMENT?
Accessibility Availability
OPTIMIZED
DATA
SOURCING

More Related Content

What's hot

AtScaleCaseStudy
AtScaleCaseStudyAtScaleCaseStudy
AtScaleCaseStudy
metadata.io
 
Big data for sales and marketing people
Big data for sales and marketing peopleBig data for sales and marketing people
Big data for sales and marketing people
Edward Chenard
 
5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY
5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY
5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY
technodatagroup
 
Let lead generation help you
Let lead generation help youLet lead generation help you
Let lead generation help you
Adam Amberlynn
 
Optimisator : 8 Ways Analytics Helps Your Business Grow
Optimisator : 8 Ways Analytics Helps Your Business Grow Optimisator : 8 Ways Analytics Helps Your Business Grow
Optimisator : 8 Ways Analytics Helps Your Business Grow
Optimisator
 
The new patterns of innovation
The new patterns of innovationThe new patterns of innovation
The new patterns of innovation
Shashi Bala Gupta
 
From Big Data to Business Value
From Big Data to Business ValueFrom Big Data to Business Value
From Big Data to Business Value
Gib Bassett
 
Data Science and Engineering for Marketers
Data Science and Engineering for MarketersData Science and Engineering for Marketers
Data Science and Engineering for Marketers
Micah Cowsik-Herstand
 
CSR Big data
CSR Big dataCSR Big data
CSR Big data
Cherry Liu
 
Big Data, Big Responsibilities
Big Data, Big ResponsibilitiesBig Data, Big Responsibilities
Big Data, Big Responsibilities
Stephen Loudermilk
 
Technology industry list DataCaptive
Technology industry list DataCaptiveTechnology industry list DataCaptive
Technology industry list DataCaptive
DataCaptive
 
TechConnectr's Big Data Connection. Digital Marketing KPIs, Targeting, Analy...
TechConnectr's Big Data Connection.  Digital Marketing KPIs, Targeting, Analy...TechConnectr's Big Data Connection.  Digital Marketing KPIs, Targeting, Analy...
TechConnectr's Big Data Connection. Digital Marketing KPIs, Targeting, Analy...
Bob Samuels
 
Data Monetization Framework
Data Monetization FrameworkData Monetization Framework
Data Monetization Framework
Arvind Radhakrishnen
 
Moving Forward with Big Data: The Future of Retail Analytics
Moving Forward with Big Data: The Future of Retail AnalyticsMoving Forward with Big Data: The Future of Retail Analytics
Moving Forward with Big Data: The Future of Retail Analytics
Bill Bishop
 
How Big Data Analytics Helps In Delivering More Value to Your Customers
How Big Data Analytics Helps In Delivering More Value to Your CustomersHow Big Data Analytics Helps In Delivering More Value to Your Customers
How Big Data Analytics Helps In Delivering More Value to Your Customers
Semaphore Software
 
With Data viz Boost your B2B performance
With Data vizBoost your B2B performanceWith Data vizBoost your B2B performance
With Data viz Boost your B2B performance
Samia NACIRI
 
Machine learning with sabyasachi upadhya
Machine learning with sabyasachi upadhyaMachine learning with sabyasachi upadhya
Machine learning with sabyasachi upadhya
AnthonyBennet
 

What's hot (17)

AtScaleCaseStudy
AtScaleCaseStudyAtScaleCaseStudy
AtScaleCaseStudy
 
Big data for sales and marketing people
Big data for sales and marketing peopleBig data for sales and marketing people
Big data for sales and marketing people
 
5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY
5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY
5 WAYS TO CREATE AND MANAGE B2B DATABASE EFFECTIVELY
 
Let lead generation help you
Let lead generation help youLet lead generation help you
Let lead generation help you
 
Optimisator : 8 Ways Analytics Helps Your Business Grow
Optimisator : 8 Ways Analytics Helps Your Business Grow Optimisator : 8 Ways Analytics Helps Your Business Grow
Optimisator : 8 Ways Analytics Helps Your Business Grow
 
The new patterns of innovation
The new patterns of innovationThe new patterns of innovation
The new patterns of innovation
 
From Big Data to Business Value
From Big Data to Business ValueFrom Big Data to Business Value
From Big Data to Business Value
 
Data Science and Engineering for Marketers
Data Science and Engineering for MarketersData Science and Engineering for Marketers
Data Science and Engineering for Marketers
 
CSR Big data
CSR Big dataCSR Big data
CSR Big data
 
Big Data, Big Responsibilities
Big Data, Big ResponsibilitiesBig Data, Big Responsibilities
Big Data, Big Responsibilities
 
Technology industry list DataCaptive
Technology industry list DataCaptiveTechnology industry list DataCaptive
Technology industry list DataCaptive
 
TechConnectr's Big Data Connection. Digital Marketing KPIs, Targeting, Analy...
TechConnectr's Big Data Connection.  Digital Marketing KPIs, Targeting, Analy...TechConnectr's Big Data Connection.  Digital Marketing KPIs, Targeting, Analy...
TechConnectr's Big Data Connection. Digital Marketing KPIs, Targeting, Analy...
 
Data Monetization Framework
Data Monetization FrameworkData Monetization Framework
Data Monetization Framework
 
Moving Forward with Big Data: The Future of Retail Analytics
Moving Forward with Big Data: The Future of Retail AnalyticsMoving Forward with Big Data: The Future of Retail Analytics
Moving Forward with Big Data: The Future of Retail Analytics
 
How Big Data Analytics Helps In Delivering More Value to Your Customers
How Big Data Analytics Helps In Delivering More Value to Your CustomersHow Big Data Analytics Helps In Delivering More Value to Your Customers
How Big Data Analytics Helps In Delivering More Value to Your Customers
 
With Data viz Boost your B2B performance
With Data vizBoost your B2B performanceWith Data vizBoost your B2B performance
With Data viz Boost your B2B performance
 
Machine learning with sabyasachi upadhya
Machine learning with sabyasachi upadhyaMachine learning with sabyasachi upadhya
Machine learning with sabyasachi upadhya
 

Viewers also liked

Choose yourownadventure copyright
Choose yourownadventure copyrightChoose yourownadventure copyright
Choose yourownadventure copyright
harrod21
 
Management Likability
Management LikabilityManagement Likability
Management Likability
Kalista Lee
 
Housing Project Research
Housing Project ResearchHousing Project Research
Housing Project Research
Blagoy Petkov
 
Namespaces for Kazimir
Namespaces for KazimirNamespaces for Kazimir
Namespaces for Kazimir
Lubomir Rintel
 
Mi biography
Mi biographyMi biography
Mi biography
emocionalmentebien
 
Dragalevci - Master's Degree Diploma Project
Dragalevci - Master's Degree Diploma ProjectDragalevci - Master's Degree Diploma Project
Dragalevci - Master's Degree Diploma Project
Blagoy Petkov
 
Housing Project
Housing ProjectHousing Project
Housing Project
Blagoy Petkov
 
Comportamientos Digitales
Comportamientos DigitalesComportamientos Digitales
Comportamientos Digitales
TatiLopez25
 
Vinica
VinicaVinica
Detailed Development Plans
Detailed Development PlansDetailed Development Plans
Detailed Development Plans
Blagoy Petkov
 
Spatial Development Training Report Plovdiv
Spatial Development Training Report PlovdivSpatial Development Training Report Plovdiv
Spatial Development Training Report Plovdiv
Blagoy Petkov
 
development register
development registerdevelopment register
development register
Blagoy Petkov
 
projects preview
projects previewprojects preview
projects preview
Blagoy Petkov
 
Dubai - Globalization and Urban Development Presentation (2)
Dubai - Globalization and Urban Development Presentation (2)Dubai - Globalization and Urban Development Presentation (2)
Dubai - Globalization and Urban Development Presentation (2)
Blagoy Petkov
 
Housing Policy
Housing PolicyHousing Policy
Housing Policy
Blagoy Petkov
 
Comparative European Planning
Comparative European PlanningComparative European Planning
Comparative European Planning
Blagoy Petkov
 
Regulation and Economy
Regulation and EconomyRegulation and Economy
Regulation and Economy
Blagoy Petkov
 

Viewers also liked (17)

Choose yourownadventure copyright
Choose yourownadventure copyrightChoose yourownadventure copyright
Choose yourownadventure copyright
 
Management Likability
Management LikabilityManagement Likability
Management Likability
 
Housing Project Research
Housing Project ResearchHousing Project Research
Housing Project Research
 
Namespaces for Kazimir
Namespaces for KazimirNamespaces for Kazimir
Namespaces for Kazimir
 
Mi biography
Mi biographyMi biography
Mi biography
 
Dragalevci - Master's Degree Diploma Project
Dragalevci - Master's Degree Diploma ProjectDragalevci - Master's Degree Diploma Project
Dragalevci - Master's Degree Diploma Project
 
Housing Project
Housing ProjectHousing Project
Housing Project
 
Comportamientos Digitales
Comportamientos DigitalesComportamientos Digitales
Comportamientos Digitales
 
Vinica
VinicaVinica
Vinica
 
Detailed Development Plans
Detailed Development PlansDetailed Development Plans
Detailed Development Plans
 
Spatial Development Training Report Plovdiv
Spatial Development Training Report PlovdivSpatial Development Training Report Plovdiv
Spatial Development Training Report Plovdiv
 
development register
development registerdevelopment register
development register
 
projects preview
projects previewprojects preview
projects preview
 
Dubai - Globalization and Urban Development Presentation (2)
Dubai - Globalization and Urban Development Presentation (2)Dubai - Globalization and Urban Development Presentation (2)
Dubai - Globalization and Urban Development Presentation (2)
 
Housing Policy
Housing PolicyHousing Policy
Housing Policy
 
Comparative European Planning
Comparative European PlanningComparative European Planning
Comparative European Planning
 
Regulation and Economy
Regulation and EconomyRegulation and Economy
Regulation and Economy
 

Similar to Dmc white paper data economics

Revealing B2B Digital Marketers biggest challenges
Revealing B2B Digital Marketers biggest challengesRevealing B2B Digital Marketers biggest challenges
Revealing B2B Digital Marketers biggest challenges
idio Ltd
 
How Companies Turn Data Into Business Value
 How Companies Turn Data Into Business Value How Companies Turn Data Into Business Value
How Companies Turn Data Into Business Value
Jamie Hribal
 
DATA SCIENCE IN MARKETING.pdf
DATA SCIENCE IN MARKETING.pdfDATA SCIENCE IN MARKETING.pdf
DATA SCIENCE IN MARKETING.pdf
NEETIMONIGOGOI223704
 
Marketing & SalesBig Data, Analytics, and the Future of .docx
Marketing & SalesBig Data, Analytics, and the Future of .docxMarketing & SalesBig Data, Analytics, and the Future of .docx
Marketing & SalesBig Data, Analytics, and the Future of .docx
alfredacavx97
 
2014 Inbound Marketing Benchmark Survey: Trends by Company Size
2014 Inbound Marketing Benchmark Survey: Trends by Company Size2014 Inbound Marketing Benchmark Survey: Trends by Company Size
2014 Inbound Marketing Benchmark Survey: Trends by Company Size
Courtney Caldwell, MBA
 
Determine Your Data Strategy
Determine Your Data StrategyDetermine Your Data Strategy
Determine Your Data Strategy
Mighty Guides, Inc.
 
360i Report: Big Data
360i Report: Big Data360i Report: Big Data
360i Report: Big Data
360i
 
Magenta advisory: Data Driven Decision Making –Is Your Organization Ready Fo...
Magenta advisory: Data Driven Decision Making  –Is Your Organization Ready Fo...Magenta advisory: Data Driven Decision Making  –Is Your Organization Ready Fo...
Magenta advisory: Data Driven Decision Making –Is Your Organization Ready Fo...
BearingPoint Finland
 
Building an integrated data strategy
Building an integrated data strategyBuilding an integrated data strategy
Building an integrated data strategy
Lucas Modesto
 
ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...
ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...
ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...
Clark Boyd
 
Business
BusinessBusiness
Big data is a popular term used to describe the exponential growth and availa...
Big data is a popular term used to describe the exponential growth and availa...Big data is a popular term used to describe the exponential growth and availa...
Big data is a popular term used to describe the exponential growth and availa...
VISITING PROFESSOR AT DEPARTMENT OF MANAGEMENT SCIENCE, MADURAI KAMARAJ UNIVERSITY,MADURAI
 
Ibm 1901 2019_marktr
Ibm 1901 2019_marktrIbm 1901 2019_marktr
Ibm 1901 2019_marktr
EvoLife.bg
 
Win Over Your Competitors with Data Driven Marketing
Win Over Your Competitors with Data Driven MarketingWin Over Your Competitors with Data Driven Marketing
Win Over Your Competitors with Data Driven Marketing
Bester Capital Media
 
Connecting the Customer Data Dots
Connecting the Customer Data DotsConnecting the Customer Data Dots
Connecting the Customer Data Dots
Treasure Data, Inc.
 
Imarticus Corporate Newsletter on Annalytics
Imarticus Corporate Newsletter on AnnalyticsImarticus Corporate Newsletter on Annalytics
Imarticus Corporate Newsletter on Annalytics
Learning Imarticus
 
The Basic of Predictive Marketing_FINAL-2
The Basic of Predictive Marketing_FINAL-2The Basic of Predictive Marketing_FINAL-2
The Basic of Predictive Marketing_FINAL-2
Rona Fan
 
{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final
{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final
{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final
'Ahmad.Wahid. Ashoor'
 
Creating Revenue from Customer Data
Creating Revenue from Customer DataCreating Revenue from Customer Data
Creating Revenue from Customer Data
accenture
 
The cognitive marketer
The cognitive marketerThe cognitive marketer
The cognitive marketer
Marcel Baron
 

Similar to Dmc white paper data economics (20)

Revealing B2B Digital Marketers biggest challenges
Revealing B2B Digital Marketers biggest challengesRevealing B2B Digital Marketers biggest challenges
Revealing B2B Digital Marketers biggest challenges
 
How Companies Turn Data Into Business Value
 How Companies Turn Data Into Business Value How Companies Turn Data Into Business Value
How Companies Turn Data Into Business Value
 
DATA SCIENCE IN MARKETING.pdf
DATA SCIENCE IN MARKETING.pdfDATA SCIENCE IN MARKETING.pdf
DATA SCIENCE IN MARKETING.pdf
 
Marketing & SalesBig Data, Analytics, and the Future of .docx
Marketing & SalesBig Data, Analytics, and the Future of .docxMarketing & SalesBig Data, Analytics, and the Future of .docx
Marketing & SalesBig Data, Analytics, and the Future of .docx
 
2014 Inbound Marketing Benchmark Survey: Trends by Company Size
2014 Inbound Marketing Benchmark Survey: Trends by Company Size2014 Inbound Marketing Benchmark Survey: Trends by Company Size
2014 Inbound Marketing Benchmark Survey: Trends by Company Size
 
Determine Your Data Strategy
Determine Your Data StrategyDetermine Your Data Strategy
Determine Your Data Strategy
 
360i Report: Big Data
360i Report: Big Data360i Report: Big Data
360i Report: Big Data
 
Magenta advisory: Data Driven Decision Making –Is Your Organization Ready Fo...
Magenta advisory: Data Driven Decision Making  –Is Your Organization Ready Fo...Magenta advisory: Data Driven Decision Making  –Is Your Organization Ready Fo...
Magenta advisory: Data Driven Decision Making –Is Your Organization Ready Fo...
 
Building an integrated data strategy
Building an integrated data strategyBuilding an integrated data strategy
Building an integrated data strategy
 
ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...
ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...
ClickZ/Fospha: The State of Marketing Measurement, Attribution, and Data Mana...
 
Business
BusinessBusiness
Business
 
Big data is a popular term used to describe the exponential growth and availa...
Big data is a popular term used to describe the exponential growth and availa...Big data is a popular term used to describe the exponential growth and availa...
Big data is a popular term used to describe the exponential growth and availa...
 
Ibm 1901 2019_marktr
Ibm 1901 2019_marktrIbm 1901 2019_marktr
Ibm 1901 2019_marktr
 
Win Over Your Competitors with Data Driven Marketing
Win Over Your Competitors with Data Driven MarketingWin Over Your Competitors with Data Driven Marketing
Win Over Your Competitors with Data Driven Marketing
 
Connecting the Customer Data Dots
Connecting the Customer Data DotsConnecting the Customer Data Dots
Connecting the Customer Data Dots
 
Imarticus Corporate Newsletter on Annalytics
Imarticus Corporate Newsletter on AnnalyticsImarticus Corporate Newsletter on Annalytics
Imarticus Corporate Newsletter on Annalytics
 
The Basic of Predictive Marketing_FINAL-2
The Basic of Predictive Marketing_FINAL-2The Basic of Predictive Marketing_FINAL-2
The Basic of Predictive Marketing_FINAL-2
 
{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final
{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final
{08aa3660 6b82-45df-937f-1b54911df539} omc-mmeg-data_management-guide_final
 
Creating Revenue from Customer Data
Creating Revenue from Customer DataCreating Revenue from Customer Data
Creating Revenue from Customer Data
 
The cognitive marketer
The cognitive marketerThe cognitive marketer
The cognitive marketer
 

Recently uploaded

Day 4 - Excel Automation and Data Manipulation
Day 4 - Excel Automation and Data ManipulationDay 4 - Excel Automation and Data Manipulation
Day 4 - Excel Automation and Data Manipulation
UiPathCommunity
 
MongoDB to ScyllaDB: Technical Comparison and the Path to Success
MongoDB to ScyllaDB: Technical Comparison and the Path to SuccessMongoDB to ScyllaDB: Technical Comparison and the Path to Success
MongoDB to ScyllaDB: Technical Comparison and the Path to Success
ScyllaDB
 
An All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS MarketAn All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS Market
ScyllaDB
 
QA or the Highway - Component Testing: Bridging the gap between frontend appl...
QA or the Highway - Component Testing: Bridging the gap between frontend appl...QA or the Highway - Component Testing: Bridging the gap between frontend appl...
QA or the Highway - Component Testing: Bridging the gap between frontend appl...
zjhamm304
 
APJC Introduction to ThousandEyes Webinar
APJC Introduction to ThousandEyes WebinarAPJC Introduction to ThousandEyes Webinar
APJC Introduction to ThousandEyes Webinar
ThousandEyes
 
CNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My Identity
CNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My IdentityCNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My Identity
CNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My Identity
Cynthia Thomas
 
Demystifying Knowledge Management through Storytelling
Demystifying Knowledge Management through StorytellingDemystifying Knowledge Management through Storytelling
Demystifying Knowledge Management through Storytelling
Enterprise Knowledge
 
Chapter 5 - Managing Test Activities V4.0
Chapter 5 - Managing Test Activities V4.0Chapter 5 - Managing Test Activities V4.0
Chapter 5 - Managing Test Activities V4.0
Neeraj Kumar Singh
 
Building a Semantic Layer of your Data Platform
Building a Semantic Layer of your Data PlatformBuilding a Semantic Layer of your Data Platform
Building a Semantic Layer of your Data Platform
Enterprise Knowledge
 
Fuxnet [EN] .pdf
Fuxnet [EN]                                   .pdfFuxnet [EN]                                   .pdf
Fuxnet [EN] .pdf
Overkill Security
 
Elasticity vs. State? Exploring Kafka Streams Cassandra State Store
Elasticity vs. State? Exploring Kafka Streams Cassandra State StoreElasticity vs. State? Exploring Kafka Streams Cassandra State Store
Elasticity vs. State? Exploring Kafka Streams Cassandra State Store
ScyllaDB
 
Day 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio FundamentalsDay 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio Fundamentals
UiPathCommunity
 
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
manji sharman06
 
New ThousandEyes Product Features and Release Highlights: June 2024
New ThousandEyes Product Features and Release Highlights: June 2024New ThousandEyes Product Features and Release Highlights: June 2024
New ThousandEyes Product Features and Release Highlights: June 2024
ThousandEyes
 
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving
 
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeckPoznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
FilipTomaszewski5
 
Radically Outperforming DynamoDB @ Digital Turbine with SADA and Google Cloud
Radically Outperforming DynamoDB @ Digital Turbine with SADA and Google CloudRadically Outperforming DynamoDB @ Digital Turbine with SADA and Google Cloud
Radically Outperforming DynamoDB @ Digital Turbine with SADA and Google Cloud
ScyllaDB
 
Must Know Postgres Extension for DBA and Developer during Migration
Must Know Postgres Extension for DBA and Developer during MigrationMust Know Postgres Extension for DBA and Developer during Migration
Must Know Postgres Extension for DBA and Developer during Migration
Mydbops
 
Cyber Recovery Wargame
Cyber Recovery WargameCyber Recovery Wargame
Cyber Recovery Wargame
Databarracks
 
Guidelines for Effective Data Visualization
Guidelines for Effective Data VisualizationGuidelines for Effective Data Visualization
Guidelines for Effective Data Visualization
UmmeSalmaM1
 

Recently uploaded (20)

Day 4 - Excel Automation and Data Manipulation
Day 4 - Excel Automation and Data ManipulationDay 4 - Excel Automation and Data Manipulation
Day 4 - Excel Automation and Data Manipulation
 
MongoDB to ScyllaDB: Technical Comparison and the Path to Success
MongoDB to ScyllaDB: Technical Comparison and the Path to SuccessMongoDB to ScyllaDB: Technical Comparison and the Path to Success
MongoDB to ScyllaDB: Technical Comparison and the Path to Success
 
An All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS MarketAn All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS Market
 
QA or the Highway - Component Testing: Bridging the gap between frontend appl...
QA or the Highway - Component Testing: Bridging the gap between frontend appl...QA or the Highway - Component Testing: Bridging the gap between frontend appl...
QA or the Highway - Component Testing: Bridging the gap between frontend appl...
 
APJC Introduction to ThousandEyes Webinar
APJC Introduction to ThousandEyes WebinarAPJC Introduction to ThousandEyes Webinar
APJC Introduction to ThousandEyes Webinar
 
CNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My Identity
CNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My IdentityCNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My Identity
CNSCon 2024 Lightning Talk: Don’t Make Me Impersonate My Identity
 
Demystifying Knowledge Management through Storytelling
Demystifying Knowledge Management through StorytellingDemystifying Knowledge Management through Storytelling
Demystifying Knowledge Management through Storytelling
 
Chapter 5 - Managing Test Activities V4.0
Chapter 5 - Managing Test Activities V4.0Chapter 5 - Managing Test Activities V4.0
Chapter 5 - Managing Test Activities V4.0
 
Building a Semantic Layer of your Data Platform
Building a Semantic Layer of your Data PlatformBuilding a Semantic Layer of your Data Platform
Building a Semantic Layer of your Data Platform
 
Fuxnet [EN] .pdf
Fuxnet [EN]                                   .pdfFuxnet [EN]                                   .pdf
Fuxnet [EN] .pdf
 
Elasticity vs. State? Exploring Kafka Streams Cassandra State Store
Elasticity vs. State? Exploring Kafka Streams Cassandra State StoreElasticity vs. State? Exploring Kafka Streams Cassandra State Store
Elasticity vs. State? Exploring Kafka Streams Cassandra State Store
 
Day 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio FundamentalsDay 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio Fundamentals
 
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
 
New ThousandEyes Product Features and Release Highlights: June 2024
New ThousandEyes Product Features and Release Highlights: June 2024New ThousandEyes Product Features and Release Highlights: June 2024
New ThousandEyes Product Features and Release Highlights: June 2024
 
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
 
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeckPoznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
 
Radically Outperforming DynamoDB @ Digital Turbine with SADA and Google Cloud
Radically Outperforming DynamoDB @ Digital Turbine with SADA and Google CloudRadically Outperforming DynamoDB @ Digital Turbine with SADA and Google Cloud
Radically Outperforming DynamoDB @ Digital Turbine with SADA and Google Cloud
 
Must Know Postgres Extension for DBA and Developer during Migration
Must Know Postgres Extension for DBA and Developer during MigrationMust Know Postgres Extension for DBA and Developer during Migration
Must Know Postgres Extension for DBA and Developer during Migration
 
Cyber Recovery Wargame
Cyber Recovery WargameCyber Recovery Wargame
Cyber Recovery Wargame
 
Guidelines for Effective Data Visualization
Guidelines for Effective Data VisualizationGuidelines for Effective Data Visualization
Guidelines for Effective Data Visualization
 

Dmc white paper data economics

  • 1. The Intelligent Marketer POWERED BY DIRECTMAIL.COM MAY 2013 Mining Big Data The Value of Data Economics
  • 2. The concept of big data might seem overwhelming if you’re a mid-sized commercial brand. Who has the time or energy to study in-house data, let alone the myriad of data vendors promising immediate results? However, if you stick with the status quo, you’re likely to be spinning your wheels and letting your competitors pass you by. What are the driving forces behind your data decisions? According to the McKinsey Global Institute, a retailer using big data to the fullest has the potential to increase its operating margin by 60 percent. To start moving your company towards its potential, take a hard look at your data economics: DATA ECONOMICS KEY QUESTIONS 1. Do you have timely access to extract and report on your data? 2. What would you list as your Top 3 challenges for getting “more” out of your current customer data? 3. What is the level of targeting and personalization you can apply to your data? What is your segmentation strategy? 4. How are you integrating online and offline data? Do you know your customer’s digital footprint (e.g., social, mobile, direct, online)? 5. Are you using additional data to further understand your customers? 6. Do you have an inventory of all available external data sources? 7. What is your cost to acquire a new customer? Are you measuring customer lifetime value? 8. How do you measure your data effectiveness? If you’re not sure about the answers to those questions, then you need to find a data expert, someone who can turn the information you have into intelligence you can use. The best data experts are also ambassadors, serving as a liaison between your company and outside data suppliers. 2 Mining Big Data The Value of Data Economics
  • 3. 3 Have you considered access and availability? Data specialists are able to access information that is not currently available to you. They will also likely have tools and sources that can maximize your assets. “[A lot of organizations] can look at products, they can look at customers, and they can look at sales, but they can’t tie those things together. Being able to look at those things in an integrated fashion is really the foundation you need” explains Rebecca Shockey, Global Research Leader for Business Analytics at the IBM Institute for Business Value. Develop a passion for the data landscape Whether you insource or outsource, you need to have a process in place. IBM recommends targeting a single problem that you would like to address. For example, let’s say that you feel that your marketing ROI is lower than you would like. It could be that you are focused on list quantity over quality. A data expert will start by extracting insight from your current data. What do you already know about your customers? Geographic, demographic, and psychographic profile can often be done in minutes. An expert can also tell you which mix of data sources and attributes have been successful for similar clients. Marketing is a science and an art. Armed with data intelligence, your firm’s creative minds can then coordinate multi-channel marketing initiatives, with the ultimate goal of maximizing your data’s value and driving increased revenue. Sources: McKinsey Global Institute’s “Big data: The next frontier for innovation, competition, and productivity” report and IBM’s “Big data: Why it matters to the midmarket” report. For over 40 years, DirectMail.com has been working with clients on the most sophisticated multi-channel marketing challenges. We are a company that is passionate about continuous learning and we are excited to share our expertise and best practices with a broader audience and the industry as a whole. Through Intelligent Marketer, we hope to provide practical solutions and tools that marketers can leverage to make their jobs easier in the short term and to generate incremental results in the long term. “We are a leader in the regional retail product category and have prided ourselves in increasing marketing results dramatically over the last 18 months. But as we formed a ‘big data’ team with our partners to evaluate how to stay competitive in the future, we realized how far behind we were relative to best-in-class organizations in other industries. Our customer lifetime value was reduced by over 17% due to not completely understanding the data landscape. Our number one goal in the next 24 months is to recapture this lost margin through data optimization.” – CMO, Mid-sized firm Regional Consumer Product Company WHAT WAS YOUR “ Ah Ha” MOMENT? Accessibility Availability OPTIMIZED DATA SOURCING
  翻译: