A new report from the Winterberry Group and IAB, “Data As Competitive Advantage,” explores the role of “big data” within organizations. While interviews and survey respondents polled for the report find data to generally be a “competitive advantage” the results of the research overall present a more mixed picture.
According to the report marketers and publishers are having the greatest success in using first party data to better understand their own customers. However use of data has been less successful in advancing core business objectives (e.g., growing revenue). The report found “the most common data-driven use case in deployment today” was programmatic media buying, with just over 70 percent of respondents doing programmatic.
The findings were drawn from phone interviews and online surveys of “more than 100 advertisers, marketers, publishers, technology developers and marketing service providers (primarily based in North America, and conducted between August and September 2015).”
First party data is well regarded and being deployed effectively. However third party data has been utilized less successfully and satisfaction levels reflect that accordingly.
While all are supportive of the concept of “big data” and its use in theory, the report reveals that there are practical challenges in understanding, valuing and fully leveraging data within an organization. Indeed, organizational challenges appear to be the primary factors behind the inability to fully interpret and leverage data to advance business goals.
The report concludes by asserting that leaders will need to buy in fully to data and make it into “the lifeblood of their strategic organizational leadership.” The report contains a great deal more information and nuance. You can download it here.
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