Understand your data.
Learn how to protect it.

Learn how to get the most insight from your customer data and discover tips to become a data-driven organisation with customer analytics at its heart.

There’s one key factor defining whether a business is going to be successful in the future—how well it uses, acts on, and manages its data. Businesses that put data—particularly their own proprietary data—at the centre of their operations see huge improvements. From increased revenue, to improved efficiency, greater customer loyalty, higher profits and increased market capitalisation.  And Adobe’s leading customer intelligence solution, Adobe Analytics, is exactly how you can do this. By integrating your data and providing powerful attribution and predictive analytics, it creates a culture where insights—and actions—are everything. 

Crucial to a company’s success is understanding that data only has value when it’s used. Cultivating a data management culture where the importance of data is emphasised breaks down silos—around departments and data. And it encourages people to share the value of their data across the organisation. Plus, with better efficiency and streamlined workflows, this translates to 10 employees refocussed on higher value business priorities. With Adobe Analytics, the numbers speak for themselves. Companies using Adobe Analytics see a 224% return on investment and a 13% increase in conversion rate.

224% ROI for companies using Adobe Analytics. 

The Total Economic Impact™ of Adobe Analytics & Adobe Audience Manager

The results of this focus on data are striking. Companies that collect, control and utilise data are significantly more successful than those focused on tangible assets. Traditionally, a company’s value is determined by the value of its tangible assets. But looking at Forbes’ “most powerful brands list” for 2018, we see the opposite is now true. Traditional manufacturing companies like GE and Toyota are valued at between 0.5 and 4.5 times the value of their tangible assets. Digital companies like Google, Facebook and Amazon are valued at 10 times. And for Facebook, the ratio is a massive 34.5. 

The difference is the intangible assets these digital companies possess. Namely, their data

See data in a new light.

The first step is changing how you view your data. Recognise its importance and act accordingly. That means finding out what data you’re collecting across the entire business, where it’s stored, and in what formats. This isn’t always as simple as it sounds. Software solutions can be acquired cheaply and easily, but often without any central strategy or oversight. Good for solving problems quickly, but not so good for integration. It can create silos. 

Becoming a data-centric business is so closely linked to breaking down silos—often with customer intelligence software. Start by mapping your existing data sources against other departments that might benefit. Once departments see the benefits to accessing your data, they’ll be more likely to share their own. While you’re discovering what data you’re collecting, it’s important to find out how it’s being collected. That context is key to the next stage of the process. You have to bring your data together so it can be analysed to create value.

Looking after the data you collect is also important. The 2018 EU General Data Protection Regulation (GDPR) increased the fines for data breaches significantly. But these are nothing compared to the damage a breach could do to your brand reputation and consumer trust.

13% increase in conversion rates for companies using Adobe Analytics. . 

The Total Economic Impact™ of Adobe Analytics & Adobe Audience Manager

Understand the value of your data.

The value of data has changed over the years. Initially it could only be used to find out the results of a particular campaign. This was known as descriptive analytics. Now, with high quantities of data, businesses can engage in predictive analytics. They can work out what the most likely result of a particular marketing message or activity might be. And with high speed analytics, companies can now work out in real time what will drive customer behaviour at that precise point in their journey. Take Amazon, for example. By examining the purchasing patterns of their customers, they can compare them to similar transactions. And then they can produce personalized recommendations for what customers might want to buy next.

Be wary of walled gardens.

Protecting your customer data doesn’t just mean keeping it safe from hackers. It also means limiting access to it by third-party companies who understand how valuable it could be for them. In reality, this translates into a dilemma for businesses about working with the big digital platforms like Facebook, LinkedIn, and Google. On the one hand, these platforms have enormous reach. And the data they collect about their users allows them to deliver highly targeted advertising. On the other hand, these platforms keep all the data they collect—hence the term “walled garden”. They produce aggregated reports for their clients. But those clients don’t have access to the wealth of user data generated about their customers and potential customers.

Walled gardens are making money out of the data they’re collecting about your customers’ journeys. 

This has two significant implications. Firstly, if a customer has interacted with your brand within a walled garden, you won’t have any of the data about that interaction. The result is a fragmented, inconsistent, and frustrating experience for your customer. Secondly, walled gardens sell their services to anyone willing to pay. So, your competitors can target people interested in your products or services. And they can also offer alternative offers via the walled garden’s advertising solutions. 

In effect, the walled gardens are making money out of the data they’re collecting about your customers’ journeys.

Own your data.

One thing is clear. Relying on walled gardens puts you at a competitive disadvantage. But the more data you collect, the more you’ll understand your customers’ behaviour.  And when you have an efficient customer intelligence plan in place, you’ll be able to predict their behaviour. Then you’ll be able to target them with the types of messages most likely to add value—for both of you. If you own your customer data, you can share it across the organisation so that it’s available to everyone who can make use of it. Then you can join up the customer’s experience of your brand. Once your customer analytics is in place, and the whole business is working from the same single view of the customer, every customer interaction with your business will feel coherent and consistent. 

And that’s the hallmark of the customer experiences delivered by the world’s most successful brands.

It’s time to recognise the influence that a smarter, savvier data strategy can have in your business. To learn the ins and outs of your new data strategy, read Put Data at the Centre of Your Business.

Adobe can help.

To deliver standout experience, you need clear, fast, and actionable insights. This means moving beyond simple data collection to true customer intelligence. Adobe’s industry-leading analytics solution is here to help.