The time for data science is NOW.
The key forces that will shape how marketers adopt data science in 2021 and beyond...
What are the gaps in business knowledge that will best inform on-going strategy? What data exists already to fill those needs and what is missing? What does a 12, 24 or even 36-month roadmap look like for data science?
We're over the halfway point of 2021, and it's safe to suggest that this year is presenting marketers with huge challenges. Targets are likely to be as high, as in previous years, or even increased to try to recoup some of 2020's sales shortfalls. But reaching those targets will be harder than ever with COVID having potentially...:
• Undermined consumer brand loyalty that had taken years to build.
• Encouraged consumers to trim spending.
• Reduced headcount in marketing organisations.
• Forced marketers to cut back on resourcing of marketing assets like consumer databases, insight partnerships or mar-tech applications.
Naturally, a lot of the work that we are doing with clients right now is trying to unpick what the future holds post-COVID. Whilst this is challenging in many ways, companies still face many of the same questions as they would have done anyway...
• Undermined consumer brand loyalty that had taken years to build.
• Encouraged consumers to trim spending.
• Reduced headcount in marketing organisations.
• Forced marketers to cut back on resourcing of marketing assets like consumer databases, insight partnerships or mar-tech applications.
Naturally, a lot of the work that we are doing with clients right now is trying to unpick what the future holds post-COVID. Whilst this is challenging in many ways, companies still face many of the same questions as they would have done anyway...
What are the gaps in business knowledge that will best inform on-going strategy? What data exists already to fill those needs and what is missing? What does a 12, 24 or even 36-month roadmap look like for data science?
In this context, it seems likely that 2021 is a big year for data science. We've identified four key forces that will shape the way that marketers access and use data science over the coming months:
In this context, it seems likely that 2021 is a big year for data science. We've identified four key forces that will shape the way that marketers access and use data science over the coming months:
1. Public access data, via cookies for example, will become much harder to access (without going through the tech titans who control access) as the open web starts to close down.
2. Because of this, brands will have to put more effort into the collection and analysis of their own proprietary datasets.
3. The degree to which they will succeed in this effort will depend on how willing consumers are to share personal information.
4. With datasets in place, analytical and reporting skillsets are improving at pace.
Keep an eye out for our next few blogs which will cover each of these areas in more detail, starting with the web becoming more closed.
2. Because of this, brands will have to put more effort into the collection and analysis of their own proprietary datasets.
3. The degree to which they will succeed in this effort will depend on how willing consumers are to share personal information.
4. With datasets in place, analytical and reporting skillsets are improving at pace.
Keep an eye out for our next few blogs which will cover each of these areas in more detail, starting with the web becoming more closed.