DALLAS, TX / ACCESSWIRE / March 1, 2022 / The technology and business strategy experts at Credera know that marketing and IT are both high-priority departments for most modern businesses. The need to keep up with current trends, both promotional and technological, has made these areas of business essential for success.
What many companies fail to realize, however, is the fact that bringing these two departments together can lead to beneficial results. It has the potential for more advanced data activation (i.e. unlocking the value of data) and can modernize the entire marketing practice of an enterprise.
This concept has been highlighted in a recent video by Phil Lockhart, Chief Digital Officer at Credera. In the video, Lockhart compares the roles of data warehouses (also inclusive of data lakes) and Customer Data Platforms (CDPs) in business.
The CDO points out how the pandemic has fueled the need for both data collection and quality CDPs as marketing and IT teams learn to manage digital-first enterprises from remote work environments. He points out that "If not managed well, this can lead to a head-on collision between marketing and IT and competing efforts."
Lockhart emphasizes the need to bring these two data-driven activities together. This can be done through assigning clear roles and integrating long-term roadmaps that let each one play to its core strengths. In the case of data collection, core strengths include:
- Collecting information into data lakes and warehouses.
- Organizing the data to keep it relevant.
- Maintaining accessible data through the use of dashboards and visualizations.
- Developing a collaborative environment to leverage the data for data science models and propensity scoring.
Lockhart explains that this is an activity focused on "storage, analytics, and data science modeling." The CDO adds that CDP strengths revolve around:
- Real-time data collection.
- Identity resolution services.
- Rich interfaces for quick rules creation and audience attribute development
- Prebuilt integrations with numerous MarTech (marketing technology) solutions.
"With minor customization," says Lockhart, "CDPs allow teams to quickly deliver core one-on-one personalized experiences."
The ultimate goal in integrating these two marketing and IT elements is to allow CDPs to deliver data intelligence across communication channels in real-time. In the words of Lockhart, that's insights into action. It takes two valuable elements of a company, unifies their collective vision, and uses them to activate data and give it tangible, real-world value
About Credera:
Credera is a global, boutique consulting firm focused on strategy, transformation, data, and technology. As a part of Omnicom Precision Marketing Group, our more than 3,000 consultants across the globe partner with clients ranging from long-time market leaders to emerging companies from strategy to execution to create tangible business results. Credera's deep business acumen and technical expertise, combined with a deep dedication to building trusted relationships, unlocks extraordinary business performance for our clients. Our mission is to make an extraordinary impact for our clients, people, and communities. Visit us at www.credera.com.
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SOURCE: Credera