Being data centric helps companies establish first-party relationships with customers

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 06, 2020, 2:23 AM UTC

The 2020 IAB Data-Centric Organisation report saw 47% of companies identifying themselves as data-centric.

This article states that brands investing in data resources like platforms, people, partners, processes and data privacy are more likely to survive COVID-19. The report highlights the importance of data scientists with 75% of respondents identifying as being able to manage data. 66% reported being able to manage data science (predictive analytics, measurement etc).

Implementing simple platforms with standardised integration capabilities allows companies to gain insights into combined audience data. Further, half of the brands reported relying on partners to deliver data-driven insights and understand consumer behaviour and engagement online in real-time.

To be more agile, make changes and be responsive in customer messaging and approaches. Data-centric companies must be prepared to comply with the California Consumer Privacy Act (CCPA) to build first-party relationships with customers.

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