- Organizations are looking beyond a single monolithic stack to the next phase of the cloud, where disparate data sets can be combined in a secure environment for easy and efficient data access and collaboration without losing control or security.
- The goal is for companies to connect data inside and outside their four walls to develop a better, more holistic view of customers, problems and potential areas of growth.
- Whether you’re working with a marketing cloud partner or building a bottom-up stack, new tools are being developed to deliver on that promise of a future where data can be more easily applied to better understand the customer, to enable better analyzes and to use them in different applications.
- Early adopters who are currently focused on consolidating data within their organization and building meaningful data collaborations will be well positioned in the new decade.
Over the past decade, digital transformation has required a major move to the cloud. Virtually any consolidated data in a closed environment often referred to as the Marketing Cloud.
Now the customer journey is increasingly fragmented and companies are faced with tighter operating margins in an economic recession. So it’s more important than ever to connect, access, and map data to combine insights.
With a company’s data toolset distributed across all aspects of the business, including the customer experience, companies that can join fragments of isolated data have a competitive advantage.
We are already seeing the rise of technical solutions to solve this. Snowflake is an example of a company that wants to manage and analyze large amounts and different types of data in different clouds on a single, easy-to-use platform.
The hype surrounding this platform signals a growing demand for data connectivity in all industries. It indicates a larger trend as organizations look beyond a single monolithic stack to the next phase of the cloud, where disparate data sets can be combined in a secure environment for easy and efficient data access and collaboration without relinquishing control or to enable security.
The goal is for companies to connect data inside and outside their four walls to develop a better, more holistic view of customers, problems and potential areas of growth.
Whether you’re working with a marketing cloud partner or building a stack from scratch, new tools are being developed to deliver on that promise of a future where data can be more easily applied to better understand the customer, better To enable analyzes and to use them in various applications.
Organize and access all of your data
The average customer spends less than 5% of their time with a particular brand. The rest of the time, they’re out in the world, sometimes interacting with brands in many invisible ways. When looking for a complete 360-degree vision of the customer in the post-COVID world, data is becoming increasingly important.
Organizations looking to consolidate disparate data sets across the organization and analytically combine the information into actionable insights need to be able to determine what data they are using where, not the other way around.
A decentralized, secure data environment enables ownership, choice and control. It enables brands to connect data across different channels within the company to get a unified view of the customer and to connect this information to different applications used in the company, thereby optimizing customer touch points.
For example, data connectivity within the company leads to a single customer view through dynamic multi-cloud processing so that companies can understand how a customer interacts across different aspects of the brand, such as: B. Ad viewing, visiting and visiting the website customer service center, visiting an actual business location, and more.
With the next generation of cloud operations, brands can connect not only within their company, but also with their partners. The exchange of data from first-party providers in a manner relevant to data protection is beneficial for both sides and opens up a new door for knowledge.
For example, if you are a video game developer, you know that a lot of sales are made outside of the characteristics of the video game. With that in mind, you want to collect customer information from outside sources like Twitch, Steam, Walmart, etc. to better target the right consumer with tailored content.
Data silos have been addressed by the wide range of cloud data solutions, but this still leaves many loopholes. Increasingly, partnerships are required to develop accurate information.
However, open data collaboration partnership is not as easy as a closed cloud because it must consider data protection, consumer rights, and regulatory compliance, not to mention data format and schema compatibility.
A better and more recognized approach is to break these cloud silos with a data connectivity platform that focuses on permissions, security, resolution, collaboration, and partnership insights. Data connectivity is critical to the next phase of cloud development and use.
Instead of using tightly bundled applications with closed data environments, the next generation of cloud will use data connectivity to remove structural barriers to moving and consolidating data.
Neutral data connectivity platforms are required to merge the application stacks of brands with disparate data infrastructures and deliver on the promise of an open, flexible and decentralized data environment to facilitate integration.
The advantage of data connectivity platforms is that they work with the existing cloud infrastructure, eliminating the need to build a new system from scratch.
By securely connecting data inside and outside the company, companies of all sizes can emulate technology giants and thus expand their reach and access to customer analyzes. If you look at a leader like Amazon, the data and cloud approach offers a significant advantage.
Brands with next-generation cloud capabilities can work together to achieve this level of customer knowledge and generate accurate insights and flexibility from one consistent source of information.
The fact that this can be done without updating the existing cloud infrastructure, instead of developing new marketing cloud offerings, saves considerable time and money. It is imperative that this be done taking into account modern consumer expectations and today’s regulatory environment in order to ensure secure, data protection-oriented data usage.
Data connectivity enables a seamless stack for a better customer experience and competitive advantage in customer personalization.
While tech companies have long debated the benefits of having a single view of a customer, this is now becoming a reality. Early adopters who are currently focused on consolidating data within their organization and building meaningful data collaborations will be well positioned in the new decade.
With data connectivity, clouds can do their job better and deliver on the promise of improving the customer experience by breaking down silos and accessing data outside of their four walls. It is through the pipes that first party data can be moved safely.
Data connectivity makes it easy to access legitimate, privacy-safe data from a variety of sources and consolidate it across every interaction in the customer’s most comprehensive view, so organizations can prioritize the customer experience from start to finish and offer more personalized interactions.
The next phase of digital transformation goes beyond accessing data – it’s about using data to improve the entire customer journey. The promise of a single view of the customer is finally tangible.
David Eisenberg is Chief Strategy Officer at LiveRamp (NYSE: RAMP), a software-as-a-service (SaaS) company that provides the identity platform for extraordinary experiences. David is responsible for strategic planning, M&A, partnerships and investments. Prior to LiveRamp, David led strategy and business development at Acxiom and previously at BzzAgent before Dunnhumby acquired $ 60 million.