However, access to data is not the problem
Posted: Tue Dec 17, 2024 4:46 am
Israel Mirsky, managing director of global technology and emerging platforms at OMD, shares how the global media agency built agile data intelligence tools that enabled its clients to pivot at speed, helping them navigate the rapidly changing landscape of 2020.
To say that consumer behavior remains unpredictable in 2021 might be the understatement of the year. Some of 2020’s trends have maintained momentum, while others burst onto the scene and disappeared just as quickly. That dynamism makes it critical for brands to base important marketing decisions on real-time data and insights.
►There is no shortage of data coming from a myriad of sources, leaving few clues as to how best to combat the deluge. But the reality is that today’s dynamic marketplace demands faster, more targeted decision-making than ever before.
To create opportunities from this complexity, we built a tool that brings together skype database relevant signals from disparate data sources, giving marketers a detailed overview of the evolving landscape. The Quick Start Dashboard contains over two billion fully anonymized data points from a growing list of 18+ data providers, including Google Search and Maps, across 40+ markets.
Users gain a bird's-eye view of media consumption, ad pricing and projections, consumer sentiment, foot traffic, purchasing behaviors, and fluctuations in local COVID-19 hospitalization, case, mortality, and vaccination rates to better understand how to meet consumer needs.
A line drawing of a small section of a flow chart with a green check in one of the two boxes. “The reality is that today's dynamic market demands faster, more targeted decision-making than ever before.”
►Connected by a shared data resource, teams can navigate complex planning and optimization problems at high speed. In other words, they can make better decisions, faster.
►With a data-driven foundation to track ongoing changes in the market, we can identify which trends will endure:
We can react quickly to those that don’t. And we can look for real-time data signals to monitor changing behavior and make intelligent predictions. It’s no longer enough to plan as events unfold, as long-term plans are often outdated by the time they’re launched.
Instead, we have found it necessary to plan for a variety of outcomes so that our teams and clients can take advantage of fleeting trends.
•Bacardi did this very effectively last summer when it used the Quick Start Dashboard to shift marketing dollars to its ready-to-drink Bacardi rum cocktails. As more recent data, including Google mobility trends, began to reflect a shift in sentiment and increased interest in outdoor social activities, Bacardi made the decision to shift its budget.
As reported in The Wall Street Journal, Bacardi put 65% of its planned U.S. media budget behind the product launch in May, then increased its spending in June and July to the same levels, from 10% and 0%, respectively.
To say that consumer behavior remains unpredictable in 2021 might be the understatement of the year. Some of 2020’s trends have maintained momentum, while others burst onto the scene and disappeared just as quickly. That dynamism makes it critical for brands to base important marketing decisions on real-time data and insights.
►There is no shortage of data coming from a myriad of sources, leaving few clues as to how best to combat the deluge. But the reality is that today’s dynamic marketplace demands faster, more targeted decision-making than ever before.
To create opportunities from this complexity, we built a tool that brings together skype database relevant signals from disparate data sources, giving marketers a detailed overview of the evolving landscape. The Quick Start Dashboard contains over two billion fully anonymized data points from a growing list of 18+ data providers, including Google Search and Maps, across 40+ markets.
Users gain a bird's-eye view of media consumption, ad pricing and projections, consumer sentiment, foot traffic, purchasing behaviors, and fluctuations in local COVID-19 hospitalization, case, mortality, and vaccination rates to better understand how to meet consumer needs.
A line drawing of a small section of a flow chart with a green check in one of the two boxes. “The reality is that today's dynamic market demands faster, more targeted decision-making than ever before.”
►Connected by a shared data resource, teams can navigate complex planning and optimization problems at high speed. In other words, they can make better decisions, faster.
►With a data-driven foundation to track ongoing changes in the market, we can identify which trends will endure:
We can react quickly to those that don’t. And we can look for real-time data signals to monitor changing behavior and make intelligent predictions. It’s no longer enough to plan as events unfold, as long-term plans are often outdated by the time they’re launched.
Instead, we have found it necessary to plan for a variety of outcomes so that our teams and clients can take advantage of fleeting trends.
•Bacardi did this very effectively last summer when it used the Quick Start Dashboard to shift marketing dollars to its ready-to-drink Bacardi rum cocktails. As more recent data, including Google mobility trends, began to reflect a shift in sentiment and increased interest in outdoor social activities, Bacardi made the decision to shift its budget.
As reported in The Wall Street Journal, Bacardi put 65% of its planned U.S. media budget behind the product launch in May, then increased its spending in June and July to the same levels, from 10% and 0%, respectively.