Speaking on day one of the I-Com Global Summit 2018, Michael Kaushansky, chief data officer, Havas Media, urged agencies to raise their data IQ. He stated, “It’s not an option for an agency.”
Labelling the current landscape in the digital world dynamisc, he said, “The complexity in the market is endless. The ways brands can reach out to the consumers are infinite. Planning doesn’t reduce the risk of error. Moving away from data collection to data integration is important as is the need to change from historical results to simulation.”
He stated that investment in data doesn’t match the demand with regards to marketing. “Over 60 per cent of marketing directly relies on data, yet only 20 per cent of the marketing budget is given to data.”
He further stated that ‘attracting the right data talent is a science’ and gave tips on how that could be achieved.
• Allow algorithms to recruit for you.
• Yes, creativity can be measure
• Created a data budget and know the value
• Formalise a data think tank
• Define and executive data track
Emphasising on the last point, he said, “That’s the answer to raise your data IQ. Hand out more designations like ‘chief insights officer’, ‘chief data strategy officer’, ‘chief analytics officer’, ‘chief data officer, ‘chief research officer’.”