“The world’s most valuable resource is no longer oil, but data”
As of 2018, the top 5 firms in the world are all data-driven companies: Google, Amazon, Apple, Facebook, and Microsoft. But regardless of whether you’re selling digital services or doggie chow, all brands have to play by the same rules.
A clear pattern has emerged in the past decade: brands that embrace digital and data on a strategic level (Amazon, Netflix, Apple) succeed, while the brands that don’t (Borders, Blockbuster, Kodak), fail.
Today, a brand’s adoption, popularity, and longevity hinge on how effectively the product and marketing teams are able to communicate with end-users. A recent Gallup poll found that organizations that leverage end-user data outperform peers by 85% in sales growth.
But what does it mean to become a data-centric organization? And how does data translate into real value for a brand?