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10 reasons agencies and consultancies battle over data 0

Posted on May 23, 2016 by Rob Petersen

 

agencies and consultancies

An agency is an organization established to provide a particular service. A consultancy is a professional practice that gives expert advice within a particular field. Agencies and consultancies have always tried to do what the other does. But it’s accelerating at a more rapid pace these days.

Consultancies like Deloitte, Accenture, KPMG and PwC. Even McKinsey are building agency arms. Tech companies like Adobe, Oracle and Epsilon have added a service component in the form of an agency to their core product offering. Publicis bought technology consultancy and agency services network Sapient a few years ago.

What’s behind the activity? Why?

Here are 10 reasons the battle between agencies and consultancies is over data from 10 experts.

  1. MARKETING AND BUSINESS PERFORMANCE CAN NOW BE CONNECTED: “Agencies have never had a bigger opportunity to differentiate themselves from the competition via high-value, strategic services. Digital provides hard-wired connectivity between marketing activity and business performance. As a consequence, it enables agencies to assume an absolutely integral role in the fabric of their clients’ businesses.” – Damian Burns, Director of Global Agency Sales, Google
  2. DATA REQUIRES SOMEONE TO DIGEST IT: “There’s so much more information available about business performance, consumers, what’s happening with marketing campaigns. The expectation is that [marketers] would be able to digest all that and be able to know what to do next and do that very quickly. That is incredibly complicated.” – Jason Harrison, CEO, Gain Theory
  3. DATA ESTABLISHES RESULTS-ORIENTATION: “Previously, a consulting services firm would be hired based on their reputation and relationship. While older agency directors and C-suite executives still hire consultants and government contractors according to legacy criteria, Millennial (and Millennial-minded) leaders will pass over these candidates in favor of more results-oriented professional advisers.” – John Diller, President, Big Sky
  4. DATA ANALYTICS IS COMPETITVE ADVANTAGE: “Many agencies are now beginning to consider consolidating with businesses that offer consulting capabilities. data and the rise of multi-channel media consumption have completely disrupted the way businesses deliver marketing messages. Emerging digital marketing challenges have also spurred a ‘data analytics arms race,’ where whoever has the most robust business intelligence solution is thought to have a competitive advantage.” – Jay Sampson, Vice President of Partner Sales, Adobe
  5. DATA BREAKS DOWN SILOS WITH STRATEGY THAT IMPACTS SALES: “Companies have been talking about customer-centricity forever but with the emergence of roles like the chief data officer and the chief customer officer they finally have someone internally who can work across divisions and truly break down those silos. They now need a new type of service provider that can help create an integrated strategy that will impact sales and market share.” – Gene Hartman, Managing Director, Accenture
  6. BRAND PREFERENCE HAPPENS WITH A CLICK: “The time between consumption of a brand story through mass media to the actual experiencing of the brand has shrunk to a single click. It is not difficult to understand what is attracting management consultants into marketing services.” – Avi Dan, CEO, Avidan Strategies
  7. DISRUPTION OF CLASSIC STRATEGY: “New competitors with new business models arrive. Although these upstarts are as yet nowhere near the size and influence of big-name consultancies like McKinsey, Bain, and Boston Consulting Group (BCG), the incumbents are showing vulnerability. For example, at traditional strategy-consulting firms, the share of work that is classic strategy has been steadily decreasing and is now about 20%, down from 60% to 70% some 30 years ago.” – Tom Rodenhauser, Managing Director, Kennedy Consulting Research & Advisory
  8. STRATEGY REQUIRES DELIVERY CAPABILITIES: “It is no coincidence that management consultancies are acquiring the more technically skilled digital agencies – they are coming from the other direction and want to be able to determine the strategy and deliver the higher margin activities that flow from it. They need to prove delivery capability but will not be interested in the lower margin activities – they can simply buy these in as needs be.” – Green Square, Corporate Financial Advisors
  9. CMO IS NEW CIO: By 2017, Gartner, the technology research company, estimates that the largest portion of a company’s IT spend will be controlled by the CMO instead of the CIO, from data and analytics to front and back-end IT spend.” – Avi Dan, CEO, Avidan Strategies
  10. AGENCIES AND CONSULTANCIES HAVE TO BE DATA DRIVEN: “Agencies are more responsible for marketing and customer management data, but as data becomes more of a driver, agencies need to be more savvy data analysts and integrators. Clients need to hold consultancies to the same standards as agencies. But agencies shouldn’t try to become consulting companies. Instead, they should continue to do what they do best: Specialize and encourage a culture that breeds smart marketing people.” – Peter Figueredo, Head of Client Services, Kaizen

Do these reasons show you why agencies and consultancies battle over data? Does your organization need a data-driven company working in your behalf?

25 examples of companies doing something with Big Data 0

Posted on June 08, 2015 by Rob Petersen

 

 

 

Big Data

  • 90% of the world’s total data has been created just within the past two years (source: IBM)
  • 87% agree capturing and sharing the right data is important to effectively measuring ROI in their own company (Columbia Business School/IAB)
  • 34% of organizations say they have no formal strategy to deal with Big Data (source: Information Week)

Although business leaders trust data to lead to insights on the effective management of their companies, many have no strategy on how to use data.

Big data is an evolving term that describes any voluminous amount of structured, semi-structured and unstructured data that has the potential to be mined for information.

To inspire you, since more and more data is available, here are 25 examples of companies doing something with Big Data.

  1. ATLANTA FALCONS: Use GPS technology to assess player movements during practices, which helps the coaches create more efficient plays.
  2. BANK OF AMERICA: “BankAmeriDeals” provides cash-back offers to credit and debit-card customers based upon analyses of their prior purchases.
  3. BASIS: Is a wrist-based health tracker and online personal dashboard that helps users incorporate small, progressive health changes over time—that ultimately add up to major results.
  4. BRITISH AIRWAYS: “Know Me” program combines already existing loyalty information with the data collected from customers based on their online behavior. With the blending of these two sources of information, British Airways is able to make more targeted offers while responding to service lapses in ways to create a more positive experience for the flyer.
  5. CAESARS ENTERTAINMENT: Combines patrons’ gambling outcomes with their rewards program information to offer enticing perks to those who are losing at the tables.
  6. CATAPULT: uncover vitally important information like whether an athlete is developing an injury, or whether certain workouts are overly stressful. That helps teams keep their players safe and game-ready. Sales grew 64% last year and Catapult now works with nearly half of NFL teams, a third of NBA teams, and 30 major college programs.
  7. COMMONBOND: Is a student lending platform that connects students and graduates to alumni investors and accomplished professionals. As a result, students are able to access lower, fixed-rate financing—and save thousands of dollars on their repayments.
  8. DUETTO: makes it easier for companies to personalize data to individuals searching online for hotels. Prices by hotels can be personalized by taking data such as how much you typically spend at the bar or casino to incentivize you with a lower price for your room. The hotel can give you a better price, knowing you’ll spend money on other services.
  9. EBAY: “the Feed” is a new homepage that allows customers to follow entire categories of items no matter how obscure. This makes it easier for customers to stay on top of the latest items they have a particular interest, especially if they are collectors.
  10. GE: monitors the performance of its jet engines to flag maintenance needs (such as blade wear), thus reducing flight cancellations for customers.
  11. GOOGLE: Working with the U.S. Centers for Disease Control, tracks when users are inputting search terms related to flu topics, to help predict which regions may experience outbreaks.
  12. HOMER: Handcrafted by top literacy experts, helps children learn to read. It has a complete phonics program, a library of beautifully illustrated stories, hundreds of science field trips, and exciting art and recording tools—combining the best early learning techniques into an engaging app that connects learning to read with learning to understand the world.
  13. LENDUP: a banking startup, evaluates whether to approve loan applicants according to how a user interacts with its site.
  14. NETFLIX: having drawn in millions of users with its high-quality original programming, is now using its trove of data and analytics about international viewing habits to create and buy programming that it knows will be embraced by large, ready-made audiences.
  15. NEXT BIG SOUND: Explains through analytics of online activity Wikipedia page views, Facebook Likes, You Tube Views and Twittter Mentions which bands are about to break, which late night shows really impact an artist’s trajectory, and many, many other quandaries that for decades had been the exclusive domain of mercurial executives
  16. NORFOLK SOUTHERN: Deploys customized software to monitor rail traffic and reduce congestion, enabling trains to operate at higher speeds. The company forecasts $200 million in savings by making trains run just 1 mph faster.
  17. PALANTIR TECHNOLOGIES: Uses big data to solve security problems ranging from fraud to terrorism. Their systems were developed with funding from the CIA and are widely used by the US Government and their security agencies.
  18. QSTREAM: allows sales reps to engage in fun, scenario-based challenges—complete with leaderboards and scoring—and produces sophisticated, real-time analytics. With this information, companies gain important insights into their existing knowledge gaps and are given the tools to create dynamic sales forces.
  19. RENTHOP: Is an apartment search platform simplifies real estate decisions, allowing users to look at curated apartment listings from trustworthy sources and determine which apartments are worth investigating—then schedule appointments with reputable brokers and property managers.
  20. SEARS: has consolidated data relating to customers, products, sales and campaigns to reduce the time needed to launch major marketing campaigns from eight weeks to one.
  21. SUMALL: Is a tool that draws in more than 60 different streams of data, including Google Ads, Fitbit, and Zendesk. And the company keeps adding more.
  22. UNITED HEALTHCARE: analyzes text converted from call center conversations to determine customer satisfaction levels via language-processing software.
  23. UBER: Is cutting the number of cars on the roads of London by a third through UberPool that cater to users who are interested in lowering their carbon footprint and fuel costs. Uber’s business is built on big data, with user data on both drivers and passengers fed into algorithms to find suitable and cost-effective matches, and set fare rates.
  24. UPS: monitors speed, direction and other drive performance metrics to design better routes through telematics sensors in more than 46,000 vehicles.
  25. VIROOL: is a powerful video service, allowing clients to target desired audiences on its global network of more than 100 million viewers. With affordable campaigns starting as low as $10 per day, Virool gives anyone the ability to distribute YouTube video content through a series of online publishers and offers clients full transparency with accurate and detailed analytics.

These are businesses and brands that are both data-driven or dedicated to data. Are they good example of companies doing something with Big Data to you? Does your organization need help learning to work with data?

 

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