Digital Remedy had the privilege of being invited to and attending the 4A’s Data Summit in NYC on Tuesday, thanks to the fabulous Louis Jones, EVP of Media & Data Practice, 4A’s. In addition to the summit being well executed, and a great place to network, it also served as a good Q1 refresher on where we stand as an industry (marketing, advertising, communications, martech, adtech, etc.) on “data.”
The theme of the summit was “Data Fuels an Intelligent World.” And while we can all agree an intelligent world would be ideal, we should also agree that “data” isn’t (yet) perfect. Here are two important takeaways from the day that have a direct impact on the business of Digital Remedy and our clients:
A solution for real-time, data-driven decision making that encompasses the entire ecosystem the of consumer journey, on and offline does not exist. Accessing the right consumer, at the right time, with the right message (and follow-up) to take the desired action has always been the bread and butter of media planning and buying teams. But who are we kidding? How can we accurately define the “right” anything when the sources of data don’t deliver apples-to-apples information, aren’t delivered at the same intervals, and don’t account for duplication? The answer isn’t simple or easy, but a good motto for all is, “question everything, and rip it apart.” as Scott Hagedorn, CEO of Hearts & Science commented during his keynote.
“Data without Activation is Garbage,” Abhi Patil, Senior Director, Customer Analytics and Loyalty Data Management at Air Canada said. And he’s right. We can get our hands on tremendous amounts of data, but data for the sake of data gets us nowhere. Jones started the day by acknowledging that we’ve created more data in the last two years than in the history of man. An impressive feat. Much of it, garbage. This means being collectively mindful of the data we capture, seek, maintain, and action-on. Be active. Create less garbage.
About this Event:
“More than 250 marketing professionals gathered at the 4A’s 5th annual Data Summit, a one-day event that brought together leaders from brands, agencies, media outlets and data firms. Attendees heard from executives from Bank of America, Air Canada, GroupM, Publicis, Cadreon, Google, Facebook, Viacom, Domo and Deep Root Analytics on a variety of pressing issues impacted by all things data.”
Learn more here.