Why brands need to revamp their data analytics strategy now
The time is coming for brands to change their mindset regarding personalisation, and maybe jettison some of the ‘data’ in ‘data analytics’, writes Brett Gronow, founder and executive chairman at Systema AI.
Creating a timely, relevant and personalised customer experience is any marketer’s absolute apex. For more than a decade, AI, historical/third-party data and retargeting have been widely recognised as the most prevalent methods to achieve this. But the time is coming for brands to change their mindset regarding personalisation, and maybe jettison some of the ‘data’ in ‘data analytics’.
Depending on historical data is archaic
A combination of industry events is going to shake online brands still heavily relying on historical data and cookies to engage with consumers.
With Google’s planned end of third-party cookies next year, upcoming and tighter privacy regulations from the Australian government, and consumers’ growing and justified concerns about how their personal data is used online, there are more than enough reasons for marketers to begin challenging the status quo.
Beyond these events, inefficiencies tied to current data analytics and personalisation strategies have been thrust into the spotlight.
