《eTail& AdRoll：2024零售與電商行業數據管理、治理和分析最佳實踐指南（英文版）（19頁）.pdf》由會員分享，可在線閱讀，更多相關《eTail& AdRoll：2024零售與電商行業數據管理、治理和分析最佳實踐指南（英文版）（19頁）.pdf（19頁珍藏版）》請在三個皮匠報告上搜索。

1、&DATAPRACTICESbestBESTECOMMERCEIN RETAIL&How Marketers Are Enhancing Personalization with Better Data Management,Governance,and AnalyticsCopyright 2024 WBR Insights|All Rights ReservedThe non-branded editorial content that appears in this report is owned and distributed by WBR Insights.Distribution

2、of this content is restricted to only WBR Insights and any sponsors of this report represented herein.Data Best Practices in Retail and eCommerceHow Marketers Are Enhancing Personalization with Better Data Management,Governance,and AnalyticsResearch Contact:Chris Rand Research Manager,WBR Insights C

3、hris.RWritten by:Mike Rand Content Director,rand&rand3summarycontentsCONTENTSEXECUTIVE SUMMARYThis report is based on a survey of retail and eCommerce leaders.It explores how effectively these organizations are managing their data,leveraging their data for customer insights,and incorporating those i

4、nsights into their advertising campaigns.The results reveal that while retail and eCommerce organizations recognize the critical importance of effective data management for strategic decision-making and personalized customer experiences,many struggle with outdated tools and processes.There is a need

5、 for technological enhancements,particularly in automating and improving the accuracy of audience segmentation through AI.Many companies would also benefit from creating a centralized data repository for more effective data governance.Ultimately,the results of the study suggest that achieving a comp

6、rehensive,collaborative,and technologically advanced data management framework is essential for companies to leverage their data effectively and stay competitive.3Executive Summary4About the Respondents6Key Insights7Retail and eCommerce Leaders Struggle with Data Quality,Security,and Governance11 Br

7、ands Are Collecting Data but Cant Always Generate and Use Customer Insights 14 Marketers Want Tools That Automate Audience Segmentation and Activation with AI 17 Conclusion:Steps for Improving Data Management18 Key Suggestions19 About the Authors19 About the Sponsor4respondentsABOUT THE RESPONDENTST

8、he WBR Insights research team surveyed 100 retail and eCommerce leaders from across the U.S.and Canada to generate the results featured in this report.What is your seniority?C-SuiteVice PresidentDepartment HeadDirector10%30%11%49%The respondents are directors(49%),department heads(11%),vice presiden

9、ts(30%),and C-level executives(10%).What is your role?39%Marketing20%eCommerce16%Customer Experience11%Digital8%Data6%Customer AnalyticsThe respondents occupy roles in marketing(39%),eCommerce(20%),customer experience(16%),digital(11%),data(8%),and customer analytics(6%).5What type of retailer do yo

10、u represent?The companies represented in the report operate in a variety of sectors,including apparel(7%),department stores(7%),entertainment,food,and travel(7%),and hardware,electronics,and appliances(7%),among others.ApparelDepartment StoresEntertainment,Food,and TravelHardware,Electronics,and App

11、liancesHome FurnishingSpecialty RetailSporting GoodsSupermarketsTelecommunicationsToys&HobbiesHealth&BeautyPet&AnimalFood&BeverageAuto&Transportation7%7%7%7%7%8%7%7%7%7%7%7%7%8%What is your annual revenue?$100 million to$250 million$250 million to$500 million$500 million to$1 billion$1 billion to$10

12、 billion More than$10 billionThe companies represented in the report are evenly split in size,as measured by annual revenue.The companies make annual revenues ranging from$100 million to more than$10 billion.20%How many full-time employees(FTE)do you have at your organization?51 250251 10001000 5000

13、5001+4%21%40%35%At a total of 75%,most of the respondents are from companies that have 1,000 or more full-time employees.6AMONG THE RESPONDENTS:48%48%find their customer data collection methods only somewhat effective,while 29%see them as not very effective.87%87%use data management platforms and 79

14、%use customer data platforms for retail and eCommerce data collection.73%73%utilize CRM systems,69%rely on inventory management systems,and 54%benefit from social media analytics.62%62%consider their data management practices only somewhat effective,23%not very effective,and 1%not effective at all.6

15、6%66%rate data quality controls,59%rate data security and privacy,and 57%rate data governance as significant challenges.67%67%are only somewhat effective at generating customer insights for personalization,while 15%are not very effective at doing so.57%57%can integrate data from billions of shoppers

16、 into their ad strategies.71%71%are very interested in AI-powered tools for automating audience segmentation.70%Tools for campaign and channel reporting/attribution help 70%understand customer conversion touch points and 58%apply an attribution model to conversion data.66%66%say their identity resol

17、ution ability is only somewhat effective,while 20%say it is not very effective.insightsKEY INSIGHTS7qualityRETAIL AND ECOMMERCE LEADERS STRUGGLE WITH DATA QUALITY,SECURITY,AND GOVERNANCECustomer data collection and effective management are critical for retail and eCommerce businesses,as they allow t

18、hem to tailor their marketing precisely to customers needs.By analyzing customer buying patterns and preferences,businesses can create personalized shopping experiences,leading to increased customer satisfaction and loyalty.Leveraging customer data responsibly can also help companies anticipate mark

19、et trends and stay ahead in a competitive landscape.The data collected from retail and eCommerce leaders in the study reveal a concerning trend for industries that rely heavily on customer data to drive marketing strategies.Almost half of the respondents(48%)perceive the effectiveness of their data

20、collection methods as only somewhat effective and a further 29%believe their methods are not very effective.How would you rate the effectiveness of your current customer data collection methods?23%Very effective48%Somewhat effective29%Not very effective8Which of the following technologies do you cur

21、rently use in your retail and eCommerce operations for data collection?Data Management Platforms(DMPs)Customer Data Platforms(CDPs)Customer Relationship Management(CRM)systemsSocial media analytics platformsPoint of Sale(POS)systemsBig data analytics toolsBeacon technology(for collecting data about

22、customer behavior in physical stores)Inventory management systems (e.g.,for sales and stock data)87%79%73%69%54%46%36%13%This indicates a significant challenge in capturing accurate and actionable customer insights.Inefficiency in data collection not only hampers companies ability to understand cons

23、umer behaviors and preferences but also impacts their ability to personalize marketing efforts effectively.For retailers and eCommerce companies,there is an urgent need to evaluate and enhance their data collection capabilities.Improving their ability to collect data from every customer touchpoint c

24、ould lead to more targeted marketing strategies,ultimately fostering better customer engagement and higher sales conversion rates.Currently,87%of the respondents rely on data management platforms for data collection and processing.This underlines the critical role customer data now plays in retail a

25、nd eCommerce.Similarly,the substantial use of customer data platforms by 79%of respondents reflects the industrys focus on creating unified customer profiles for enhanced targeting and personalization.This data-centric approach signifies a shift towards more sophisticated,data-driven decision-making

26、 processes among retail and eCommerce companies.By leveraging these platforms,businesses should be better equipped to understand customer behaviors,preferences,and trends.Not surprisingly,73%of the respondents also use a customer relationship management(CRM)solution for data collection.These solutio

27、ns have long been a staple for these types of businesses,allowing them to track and manage customer interactions and data throughout the customer lifecycle.The best CRMs can also integrate seamlessly with other data tools,such as DMPs and CDPs.Other solutions,such as inventory management systems(69%

28、)and social media analytics platforms(54%)are also popular,especially for eCommerce merchants.9Unfortunately,62%of the respondents perceive their data management practices as only somewhat effective,despite their implementation of advanced data solutions.Nearly one-quarter of the respondents(23%)vie

29、w their data management practices as not very effective.This signals a potential gap in their ability to leverage data effectively,despite their use of advanced data collection and analytics tools.It also signals a pressing need to enhance data management strategies to stay competitive,optimize oper

30、ations,and deliver tailored customer experiences.Most of the respondents are struggling with specific challenges that prevent them from collecting and managing their customer data effectively.For example,a significant majority(66%)identify data quality controls as a primary concern.How would you rat

31、e the effectiveness of your current data management practices?14%Very effective 62%Somewhat effective 23%Not very effective 1%Not effective at all This has been a significant challenge.This has been somewhat of a challenge.This has not been a challenge.62%How challenging have the following aspects o

32、f data management been for your organization over the past three years?Data quality controls(e.g.,ensuring only accurate data enters systems and workflows)Data governance(overall management of data availability,usability,and integrity)Data lifecycle management(e.g.,managing data from creation to sto

33、rage and obsoletion)Data integration and consolidation(e.g.,bringing together data from multiple sources)Metadata management(e.g.,accurately describing when and how data was collected)Regular backup and recovery practicesData security and privacy66%31%3%57%34%9%43%46%11%36%57%7%33%57%10%29%34%37%59%

34、31%10%10Likely,retail and eCommerce companies are facing difficulties in ensuring the accuracy and consistency of the vast amounts of customer data they collect.When data quality is compromised,it can lead to misinformed business decisions,affecting everything from inventory management to advertisin

35、g effectiveness.Furthermore,59%of the respondents point out data security and privacy as significant challenges.In an era where data breaches can not only result in substantial financial losses but also irreparable damage to a companys reputation,the importance of securing customer data cannot be ov

36、erstated.Retailers and eCommerce businesses must invest in robust security measures to protect sensitive customer information and build trust with their clientele.Additionally,57%of those surveyed highlight difficulties with data governance,indicating a struggle with managing the availability,usabil

37、ity,and integrity of data.Effective data governance ensures that data across the organization is accurate and consistently managed,which is crucial for retail companies that rely on real-time data to make quick and informed business decisions.Retail and eCommerce leaders can address these challenges

38、 by adopting a holistic approach that leverages advanced technology.First,implementing sophisticated data quality management tools can automate the process of identifying and rectifying inaccuracies in customer data.This would enhance decision-making processes and the effectiveness of personalized m

39、arketing initiatives.Second,enhancing data security and privacy can be achieved through the adoption of cutting-edge encryption technologies and rigorous data access policies.By safeguarding customer information,companies can mitigate the risk of data breaches and strengthen their brand reputation.F

40、inally,establishing a robust data governance framework supported by technology can streamline data management practices across the organization.This involves deploying data management platforms that facilitate the integration,storage,and analysis of data from various sources.Such platforms can offer

41、 real-time insights,enabling retail and eCommerce companies to automate marketing and make swift,data-driven decisions.11insightsBRANDS ARE COLLECTING DATA BUT CANT ALWAYS GENERATE AND USE CUSTOMER INSIGHTSAs weve learned,retail and eCommerce companies currently use a range of solutions to collect a

42、nd manage their data.These include tools like customer data platforms,as well as tried-and-tested solutions like CRMs.However,it is often how these tools are configured and integrated that determines how effectively brands can collect customer data,manage that data effectively,analyze it,and draw in

43、sights from it.While some companies depend on specific solutions for capabilities like customer analytics,others depend on features embedded within existing tools,such as their CRM.For example,61%of the respondents say their business intelligence(BI)capabilities come from part of a larger marketing

44、technology(MarTech)platform.Similarly,63%say their predictive analytics tools and 61%say their predictive analytics tools are features of their customer data platforms(CDPs),while 69%say the same about their data mining tools.However,52%of the respondents say their customer analytics tools are stand

45、alone products.These tools may integrate with other solutions,but they depend on an entirely separate solution for this capability.This underscores the importance of understanding the specific needs of a business and choosing the right tools accordingly.While some companies may benefit from using in

46、tegrated solutions that offer a wide range of features,others may require standalone products for more specialized capabilities.It is likely that many retail and eCommerce companies prefer a standalone product for customer analytics because it allows for more customization and control over the data

47、being analyzed.This can be especially important for businesses that have unique customer segments or complex sales processes.12 A standalone solution Features in a customer data platform(CDP)Part of a larger MarTech platform We do not use thisWhich types of solutions does your organization use for d

48、ata analytics in each of the following categories?Customer analytics toolsData visualization toolsPredictive analytics toolsArtificial intelligence/machine learningData mining toolsBusiness intelligence(BI)platforms52%24%19%5%12%63%14%11%12%61%16%11%11%20%69%0%6%69%22%3%23%16%61%0%Unfortunately,67%o

49、f the respondents view their ability to generate customer insights from data and use those insights for personalization as only somewhat effective.A further 15%say they are not very effective at generating customer insights from data and using them for personalization.Although a slight majority of t

50、he respondents are using a standalone product for customer analytics,their current solutions may be inadequate,or they may be poorly integrated into the rest of their marketing technology stack.One of the most common data challenges across industries is the siloed nature of data within organizations

51、,where customer information is scattered across different departments and systems,making it difficult to create a unified view of customer behaviors and preferences.Additionally,the legacy technology infrastructure that some companies operate on may not be equipped to handle the volume,velocity,and

52、variety of todays data.In your view,how effective is your organization at generating customer insights from data,and then using those insights for personalization?18%Very effective 67%Somewhat effective 15%Not very effective 0%Not effective at all67%13In your view,can your organization currently inc

53、orporate data from billions of shoppers into your ad strategy to find the right customers for your business?Nonetheless,companies have made some progress in their omnichannel data strategies.Many retail and eCommerce companies struggle to incorporate data from multiple sources into their marketing s

54、trategies.However,according to the study,57%of the respondents can currently incorporate data from billions of shoppers into their ad strategy to find the right customers for their businesses.This capability is critical to eCommerce success as it enables companies to target and personalize their adv

55、ertising efforts across markets.When companies can find and market to those consumers who are most likely to buy,they can generate more return on ad spend(ROAS).Researchers asked the respondents to identify the unique challenges they face when it comes to achieving efficient and effective advertisin

56、g using data.Among the responses,technological disruptions and the high velocity of change stand out as major obstacles.In the realm of advertising,technologies,platforms,and consumer preferences can change at a rapid pace.According to the respondents,such chances can offer opportunities for innovat

57、ion,but they also represent a significant challenge in maintaining cost-effectiveness,staying ahead of trends,and adapting to the digital transformation that is reshaping consumer interactions.Additionally,budgeting restrictions and the rising cost of digital advertising further complicate the abili

58、ty of businesses to execute robust advertising strategies.These financial pressures not only limit the scope and reach of campaigns but also hinder experimentation with new and potentially more effective advertising avenues.Another significant challenge highlighted in the responses is the evolving n

59、ature of consumer behavior and expectations,intensified by a saturated online ad market and growing privacy concerns.The skepticism towards advertisements,especially from unknown sources,along with the reluctance to engage with high-volume ad content,underscores a shift in consumer tolerance and eng

60、agement.This shift necessitates more personalized and content-rich advertising approaches,making the development of sophisticated and attractive content strategies crucial yet challenging due to unpredictable consumer reactions.Moving forward,brands must be able to ensure their advertising dollars a

61、re driving business results.Accomplishing this will require even more integrated and powerful data strategies,as well as more nuanced forms of personalization.With the rise of new technologies such as artificial intelligence and machine learning,companies must adapt quickly to stay competitive.YesNo

62、Im not sure.57%39%4%14toolsMARKETERS WANT TOOLS THATAUTOMATE AUDIENCE SEGMENTATION AND ACTIVATION WITH AIThe landscape of digital marketing in retail and eCommerce industries stands at a crucial crossroads,challenged by the complexity of data attribution,identity resolution,and the effective utiliza

63、tion of customer information.There is a pressing need for advanced tools and strategies that optimize marketing efforts and enhance customer experiences.Reporting and attribution tools stand out as one of the most critical solutions for optimizing campaigns.A significant majority of retailers and eC

64、ommerce businesses(70%)can currently use their campaign and channel reporting and attribution tools to map out the customers conversion path effectively.This implies that these organizations likely possess a detailed understanding of customer interactions across various touchpoints and the impact of

65、 those interactions on conversion rates.However,only 58%feel confident in their ability to apply complex attribution models,like linear or positional,to their conversion data.Companies may lack advanced analytics capabilities,which underscores a critical area for improvement for retailers aiming to

66、optimize their marketing strategies and accurately measure the ROI of each customer touchpoint.Furthermore,only 48%say they can see which channels and campaigns are assisting conversions.Without this critical information,marketers cant identify successful campaigns and replicate them,nor can they id

67、entify their most successful advertising channels.Companies without this capability in particular need better reporting tools,so they can optimize their campaigns across channels based on effectiveness.15How would you rate your organizations effectiveness at identity resolution?Another key capabilit

68、y for retail and eCommerce marketers is identity resolution.This is the process of gathering and connecting multiple identifiers across devices and platforms to create a cohesive,unified view of an individual consumer.This strategy enables marketers to accurately target and communicate with their au

69、dience in a more personalized and effective manner,even in an omnichannel environment.Most of the respondents(66%)say their effectiveness at identity resolution is only somewhat effective.One-fifth of the respondents say they are not very effective,while 3%say they are not effective at all.This mean

70、s that consumers may not have a personalized experience across channels based on data collected by the organization.It also means that marketers cant pinpoint the customer journey across touchpoints to identify a clear path to purchase.Which of the following can you currently do with your campaign a

71、nd channel reporting and attribution tools?Understand touch points along the customer conversion journeyApply an attribution model to conversion data (e.g.,linear,positional,etc.)See which channels/campaigns are assisting conversionsCompare similar KPIs across platformsNone of these apply.70%58%48%3

72、4%4%11%Very effective 66%Somewhat effective 20%Not very effective 3%Not effective at all66%Often,poor identity resolution is the result of an inability to consolidate data across systems,creating a single source of truth(SSoT)on a record of a customer.Researchers asked the respondents to describe ho

73、w they are currently strategizing this type of data consolidation.According to the respondents,the process involves meticulous planning,starting with the identification and validation of core data sources,including those added to accommodate specific business requirements.Companies are also focusing

74、 on eliminating duplicate records and ensuring data is saved in a standardized,readable format.This is crucial for maintaining the integrity of the SSoT and facilitating easier access to information across the organization.The adoption of cloud-based tools for data consolidation and the emphasis on

75、aligning the process with the companys objectives underscore the strategic approach taken towards data management.16Furthermore,the involvement of teams across different divisions in the cleaning,verifying,and integrating of data highlights a collaborative effort in creating a robust SSoT.Retail and

76、 eCommerce companies are also leveraging digital tools and technologies to streamline data integration,showcasing an evolution in data consolidation practices.This systematic approach not only addresses security concerns but also ensures that the consolidation process is in line with the companys lo

77、ng-term strategic goals.The gradual,step-by-step methodology employed in transferring data to a centralized database reflects a cautious yet effective strategy to mitigate risks associated with data consolidation.By testing and verifying information and engaging team heads in understanding the value

78、 of data to their processes,companies are attempting to make informed decisions that enhance the quality of their data.This strategic consolidation process aims at creating a comprehensive view of each customer,thereby facilitating better decision-making and fostering a more personalized customer ex

79、perience.Based on these responses,its clear that marketers have an accurate idea of what they must do to consolidate,analyze,and leverage customer data.However,previous responses have revealed that many marketers are still struggling with inadequate tools and processes.Currently,only 8%of the respon

80、dents have access to a tool that lets them automate audience segmentation and activation using artificial intelligence(AI),while 71%are very interested in such a tool and 21%are somewhat interested.To address this issue,marketers need to invest in tools and processes that can automate these tasks.AI

81、-powered tools can help identify patterns and trends in customer data,allowing for more accurate and efficient audience segmentation.They can also enable brands to unify their data,analyze datasets quickly,and then use data-driven insights in their marketing and advertising campaigns.How interested

82、are you in a tool that lets you automate audience segmentation and activation using artificial intelligence?8%We already use such a tool 71%Very interested 21%Somewhat interested71%17managementCONCLUSION:STEPS FOR IMPROVING DATA MANAGEMENT The study has shown that,despite some notable capabilities,t

83、oo many retail and eCommerce organizations struggle to effectively manage and use their data.The respondents offered some insights into how they plan to improve their data management capabilities over the next 12 months and what best practices they intend to apply to do so.Some of the respondents hi

84、ghlighted the importance of technological upgrades and the integration of advanced analytics to bolster data management practices.For example,integrating machine learning and artificial intelligence algorithms to automate data processing and analysis could greatly improve efficiency and accuracy.The

85、 creation of a single source of truth emerged as a common theme,underscoring the respondents ambition to consolidate data for more effective management and decision-making.To achieve this,many companies will focus on improving data quality and eliminating redundant or duplicate information.This repr

86、esents a collective acknowledgment of the inefficiencies current data management systems may harbor.Another significant area of focus among the responses is the human aspect of data management.Companies intend to recruit skilled professionals and invest in employee training on data protection and be

87、st practices,and they recognize that technology alone cannot solve all their data management challenges.Finally,the respondents understand that fostering a culture of data awareness and accountability across the organization is paramount.This holistic view,combining technological enhancements with h

88、uman capital development and organizational culture shift,reflects a comprehensive strategy aimed at overcoming the multifaceted challenges of data management.181 Invest in AI-powered audiencesegmentation tools.AI technologies can significantly enhance the accuracy and efficiency of audience segment

89、ation,enabling more personalized and effective marketing campaigns.2 Prioritize the creation of asingle source of truth for customer data.Establishing a centralized database of customer information facilitates better decision-making and improves the overall customer experience by ensuring consistenc

90、y across touchpoints.3 Adopt a collaborative approachto data management.Encouraging communication and collaboration among different teams and departments involved in data management can help streamline processes and ensure that the companys data is maintained accurately.4 Promote a company-widecultu

91、re of data awareness and accountability.Encouraging a holistic understanding and responsible handling of data across all departments ensures that data management and governance objectives align with the companys strategic goals.suggestionsKEY SUGGESTIONS19authorsABOUT THE AUTHORSWBR Insights is the

92、custom research division of Worldwide Business Research(WBR),the world leader in industry-driven thought-leadership conferences.Our mission is to help inform and educate key stakeholders with research-based whitepapers,webinars,digital summits,and other thought-leadership assets while achieving our

93、clients strategic goals.For more information,please visit .We launched eTail in 1999 and have been dedicated to supporting the growth of the retail industry ever since.What started off as 100 people in a room discussing where this sector is headed has led to 2,000 senior-level eCommerce executives being inspired whilst learning and developing their company as well as their careers.For more information,please visit .sponsorABOUT THE SPONSORAdRoll is a marketing and advertising platform that helps B2C bus