From our purchase intelligence, we see that there are four distinct shopper timing segments that contribute to overall holiday spend. And, for the most profitable holiday season, retailers must market to each one.
You would think that, in this age of analytics, understanding ROAS would be easier than ever. Instead, we’re often drowning in data, and at the same time, unwilling to let go of old habits when determining budgets and allocating dollars.
Data is just the beginning of the journey towards better advertising. Once assembled, the data must be properly studied with the help of a skilled data scientist.
In the age of Big Data, advertisers are hyper-focused on quantitative benchmarks and measures, which occasionally causes us to overlook qualitative data that is necessary in understanding the complete scope of what we aim to accomplish.
Remember, data is not the enemy of creative, nor is it the knight in shining armor.
German philosopher Arthur Schopenhauer, who died in 1860, made three points about truth that have held true in the advertising business for many, many years. He said, “All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.”
While businesses have gotten savvier about collecting and warehousing the data, there’s still a serious gap in understanding the data. What good are reporting tools if they take a Master’s degree to understand?
Have you ever woken up with a startling realization that you’re wrong about something very important? Somehow while you were asleep your brain connected two points in a way that you somehow missed while awake, yet your mindset is nonetheless permanently altered.
In the world of media, I operate within the primary functions of efficiency and measurability, to the extent that the art of human relationships can seem at risk, almost archaic.
This was my first time attending the Cannes Lions festival. My role is in data, so I gravitated towards the categories with obvious data connections, and was specifically excited to see the work in the Creative Data category.