Driving Business Transformation with Collective Data Partnerships
This year at Advertising Week Europe, we had not one, but three interesting sessions and panellists — and in the “Connected Data for Business Transformation” session hosted by Paul, COO, Media iQ, there were multiple themes and talking points that emerged. With each panellist having a viewpoint on machine learning, artificial intelligence, the need for marketers of look beyond marketing KPIs, and how the gap between AI, technology, data science and creativity can be bridged, it’s been a great end to yet another eventful year at Advertising Week.
While all panellists – Dominic Grounsell, Global Marketing Director, Travelex, Catherine Newman, CMO, Times & Sunday Times, Danny Hopwood, EVP Programmatic EMEA, Publicis, and Ruth Zohrer, Head of Programmatic Marketing, Mindshare, agreed that as an industry we are not using data effectively for business transformation, we are, however, moving to a world, where you need collective intelligence and trust to share data with each other so that different vantage points can come together to give businesses that competitive advantage. And to transform successfully, brands need to put their customers’ needs at the centre of the offering they wish to create, rather than being driven simply by the technology available to them.
For a large number of brands, translating different sets of data into smart data and insights is only one part of the challenge, as the bigger challenge lies in getting more and more people internally have the right structure in place to ensure that data-driven insights fulfil their game-changing potential, which means designing campaigns with a purpose of learning, and getting in people who have a programmatic mindset.
And while everyone’s excited and agreed on the importance of AI and what it means for us as humans into the future and how some of our codifiable skill sets may disappear but there is also this notion of reinvention that will come into play. So what we do as humans is changing and for those things that can’t be turned into an algorithm there is an enormous threat but there is a lot of work for which we do need that emotional intelligence and which cannot be coded into machines.
To watch the panel discussion, check out the on-demand tool.
Hear from Dominic Grounsell, Global Marketing Director, Travelex, on future opportunities for partners in a connected data world.