Big data is not a new discipline. The magazine The Economist already spoke in 2010 of “data deluge”. Nine years later, the cloud, the increasing accessibility of processing and computing capacity has made it possible to fully democratize, even trivialize, big data, particularly from the standpoint of information storage and the cost linked to this capacity storage…
The question is therefore no longer purely technical. The challenges that arise are those of valuing data as a new competitive advantage.
Clearly: how to transform data into a lever for creating value for strategic purposes?
This notably involves a strategy of brand diversification, the creation of new economic models, and the financial promotion of the brand. But the data can also serve the operationality of all organizations. This is the case with customer activation on digital media, as shown by the example of addressable television which makes it possible to converge data, content and new hyper-personalized advertising formats.
To learn more about this particular subject, and more broadly on the omnichannel customer experience, it is to the Oracle Modern CX Summit that we must go, on November 19, 2019 in Paris.
The data economy: the new black gold
Today, data is everywhere.
They are the consequence of the phenomena of digitalization and the massive dematerialization of the economy and of the flows which irrigate our modern economies. The first to understand this are the GAFAMs (Google, Amazon, Facebook, Apple, Microsoft) who have made data, and its valuation, the central component of their model.
Today, NATUs (Netflix, AirBnB, Tesla and Uber) are the new masters. And tomorrow, the DNVB (Digital Native Vertical Brands) like Casper, Bonobos, Dollar Shave Club or Glossier in the United States, or Le Slip Français, Sézane, Jimmy Fairly and Teddybear in England, will take a step ahead on the subject by redefining the rules of trade from big data .
All of these companies are capable of collecting and aggregating data at an incredible rate. These players know everything about you: what you like, your friends, what you buy, what you intend to buy, what you do, where you do it, with whom, on which terminal, in which city, when, etc.
They have developed extremely efficient models to anticipate your future behavior. Thanks to the data, they make extremely precise predictions and can even guess your needs, because they are characterized by three things:
- They have a great capacity to collect data and exploit it on a large scale;
- They can act and understand data easily;
- They work with data in real time and can be adjusted immediately.
Know how to use data as a lever for development
However, new inequalities are likely to develop (and widen) in the future regarding the ability to integrate and systematically use “reprocessed” data in its value chain. It is of course this ability that will redefine historic competitive logics as we have always known them.
Take the example of last year’s performance by the Oracle platform, which managed to send more than 1.7 billion transactional messages during Black Friday, and more than 1.8 billion during Cyber Monday.
If the technical performance may seem out of the norm from a volumetric point of view, the real success for each of these two operations lies in the ability to simultaneously combine hyper personalization of messages, and reliability in the execution and distribution of these latter.
When data is combined with the user experience, it can become a tremendous business potential for companies capable of understanding these issues.
And for that, you don’t have to be a high-tech company. The data economy is open to everyone, regardless of the size of the organization, its sector of activity and its technological appetite.
Develop your knowledge to become a professional data economy
So, how do you understand everything? data economy and its new rules of the game which are becoming more and more imposed on everyone every day?
To help you see more clearly, Oracle is hosting a day of discovery, advice, sharing of best practices and exploration of trends with experts and extremely concrete feedback from our customers. All this, within the framework of a global theme around the management of the customer experience as a business lever.
Join us on November 19, 2019 in Paris (Palais des Congrès) to find out how to revisit your customer experience with data and generate new growth opportunities.
The Oracle Modern CX Summit is the unmissable event of the data economy. In particular, you will know more about the levers useful for:
- Do digital or offline acquisition;
- Reward loyalty through new levers that are not only transactional;
- Digitize its physical spaces in order to offer a unified relational logic between the brand and its audiences;
- Restore transparency and readability to your marketing investments;
- Anticipate customer inactivity or churn;
- Relaunch innovation on the creation of new motorized services by A.I.
These are all subjects on which the ability to master all of its data heritage and the associated technological platforms makes it possible to redefine the rules of attractiveness and competitiveness for brands.
Without counting of course the logic of ecosystems which is at the heart of this new “Data economy”!
We give you an appointment on November 19 at MCX Paris!