Adapt & Grow: The Challenges facing Media in 2018 // Part 1
March 19, 2018
Author: Avora Team
Adding value through data
More than any other sector, Media is at the forefront of the big data revolution. Not only is Media examining, analysing and managing data that is fractured & diverse; but it is under intense pressure ito capture and turn that data (in near realtime) into actionable intelligence to inform buy/sell decisions and even predict market fluctuations. As a process, this is getting more complex, more costly, and failing to generate the resal-time insights that brands, agencies and marketers require to deliver against client’s requirements.
This is the 1st of a 3 part blog series on the Challenges for Media in 2018.
3 Key Goals for Media Agencies in 2018:
Continually adding value to Data
Be the Single Source of Truth
Understanding your Clients’ Customers better
The biggest challenge facing the Media sector through 2018 is dealing with the continued fragmentation of data sources. Amalgamating data from numerous sources such as ecommerce, social media, TV and print and combining that with unstructured data, will determine who survives. The future of media relies upon creating a holistic view of the customer: who they are, how they interact with the brand and what they want. If you can’t meet those needs your clients will churn.
It is vital that agencies have both depth and visibility to the many and various channels, data sources & platforms in order to communicate, manage and grow the core values of the brand. Using that data to build the brand is where media agencies come into their own, provided they can continuously add value to existing data and, more importantly, to new streams of data.
But, the significant challenge for many agencies is they are constrained by the variety and type of data and platforms that they are currently trying to use. Existing processes are already slow, complex and costly. Being agile enough to swap-in, ingest, manage and deliver insight with data from new platforms is becoming an additional headache for agencies. Who are often still reliant on manual processes and traditional data querying. And the power of machine learning is still one step away.
AVORA delivers a uniquely powerful solution to allow Media Agencies to scale dynamically allowing new data sources to be added on-demand, while also enriching and augmenting existing customer data and marketing performance data, in near real time.
For our next blog in the series “Adapt & Grow” – we will focus on becoming that Single Source of Truth.