Speaking on day three of the I-Com Global Summit 2017, Michael Kaushansky, EVP, chief data officer, Havas Media, USA, spoke about how 'Big data is still a very big business'.
In a session moderated by Francesco Marzoni, VP, business intelligence and Analytics, Bayer Switzerland, Kaushansky supported his statement about big data by saying, "221 billion dollars will be spent in the USA on advertising in 2017. 76 of this will be on digital advertising alone. From that advertisers will spend 10 billion on data and measurement. So advertisers will still ask for accountability. There's nothing called just 'marketing'. All of it is data driven now."
He went on to reveal realities Havas Media works on and urged every organisation to take them to heart and work on them if they want to be big data driven companies.
Data is always on
The EVP and chief data officer of Havas Media, USA, claimed that data is always on 24/7, it's global, cross channel, active and passive, cross device, comes at the speed of light and structured and unstructured. He said, "But the problem is that it's not connected. Advertisers find it a problem to link it. Data connection challenges persist because of organisational silos, disconnected technologies and data fragmentation which leads advertisers to take decisions without data support."
He offered a few remedies to the advertising industry to solve the above problem by saying, "One must have a proper data management tool in place. One can master the digital-first consumer journey with customer-centric technology, look for quality data versus quantity, align data with a purchase cycle and look for data pertinent only to your consumer objectives."
He surmised, "All data is marketing data and advertisers should focus on it. Your data may be your biggest competitive advantage. Data can redefine the role of advertising."
(This writer is in Portugal at the invitation of the organisers)