WHAT YOU MISSED AT DATA SUMMIT 2016
Data continues to be the focal point of the advertising and marketing universe. It’s what guides planning, creativity, media buying, strategy and talent.
On Tuesday, February 9, 2016, some of the industry’s most fascinating minds gathered at J. Walter Thompson in New York City for 4A’s Data Summit 2016.
Here’s a recap of 5 Things You Missed:
1) Fireside Chat: A Holding Company CEO's Perspective
Michael Roth, Chairman & CEO, Interpublic Group
in conversation with Nancy Hill, 4A’s President/CEO
Key Takeaway: Data crosses all disciplines. Clients are entitled to the best data—no matter where it comes from. Clients should be insisting on an integrated offering. Clients rely on us to make sense of data and to surface the key insights.
Why It’s Important: Evaluating, sourcing and analyzing data are among the most significant services agencies provide today. Now when we go into a pitch, media is the first, not the last, part of the presentation. Data is an important part of what clients are looking for today.
How It Can Help Your Business: Agencies must know how to use data in order to fully serve their clients.
If 80% of the data we see is chaotic, we get paid to figure out what data is useful and how to apply it. That’s how agencies can add value.
2) A Consultant's Perspective: How Marketers Are Using Data to Manage Customer Journeys
David Edelman, Global Co-leader, McKinsey Digital, Marketing Practice, McKinsey & Company
Key Takeaway: Data by itself isn’t useful. It has to be used in the context of a consumer journey. The agency business is continuing to evolve. Data is driving much of that evolution. The user experience must drive data.
Why It’s Important: There’s a limit to how much data can really tell you. You’ve got to get out and actually talk to people. That’s a part of the data journey that, these days, is undervalued.
How It Can Help Your Business: If you don’t test, you don’t grow. But you have to be informed. You have to know where to focus, and you have to be smart about new data sources.
3) Industry Leaders' Perspectives: Empowering Marketing Through Data - Insights, Creativity & Targeting
Tina Allen, EVP, Director Data Solutions, BBDO New York
Brian D'Allesandro, Lead Research Scientist, Facebook
Sean Downey, VP, Americas, Platform Solutions & Innovations, Google
Shenan Reed, President, Digital, North America, MEC
Radha Subramanyam, President, Insights, Research & Data Analytics, iHeartMedia
Moderator: Ronald Urbach, Chairman, Davis & Gilbert
Key Takeaway: There is an urgency bordering on panic about data. Everybody needs it. Everybody must use it. The need to own your data doesn’t work in the long run – media companies as well as agencies have to be agnostic to a certain extent and keep their minds open.
Why It’s Important: We’re going to see a connective tissue form when creative people and media people sit and work together using data. That inner connectivity will result in marketing being married to science.
How It Can Help Your Business:
We’re seeing a lot of advancements in how sales are impacted when we create successful customer journeys.
4) Data at the "Heart" - An Rx Discussion for Keeping It Healthy
Mark Davenport, Senior Director of Analytics, The Trade Desk
George Ivie, CEO, ED, Media Rating Council
Amanda Richman, President of Investment & Activation, Starcom
Michael Tiffany, CEO, WhiteOps
Duncan Trigg, VP, Advertising Effectiveness,
Moderator: Joe Mandese, Editor In Chief, MediaPost
Key Takeaway: There’s increasing concern over the integrity of data.
Why It’s Important: With the growing emphasis on data, the need to ensure that third-party providers are supplying reliable data will become increasingly important. Agencies and their clients must continue to become educated on what “healthy data” looks like.
How It Can Help Your Business: Data providers, and the agencies that rely on them, must continue to fight fraud and deception.
5) Strategy Leads Data and the Evolution of the Marketing Brand & Analytic Team Relationships
Susan Canavari, Chief Brand Officer, JP Morgan Chase
Sandra Nudelman, Head of Customer & Marketing Analytics, JP Morgan Chase
Interviewed by Shenan Reed, President, Digital, North America, MEC
Key Takeaway: The art of creativity and the science of data can determine the future success of all your marketing efforts. The marriage of the two different mindsets must work toward experiencing a series of “a-ha” moments. Always expect the unexpected!
Why It’s Important: Testing and learning is the key to driving business results. Identifying and hiring the right talent will continue to be a big challenge facing marketers and agencies now and into the future.
How It Can Help Your Business: The world is changing so fast, it’s important for agencies, clients, creative and scientists to learn together. No one has all the answers.