Digital transformation is no longer a buzzword. It’s an imperative.
Apr 27,2020
The coronavirus outbreak has forced companies to pivot their entire business model, with many having to launch digital initiatives with little time and few resources.
Lytics President Jascha Kaykas-Wolff addressed a number of misconceptions during his Discover MarTech presentation “Digital Survival. Right Now.” One of the most popular misconceptions attached to digital transformation, according to Kaykas-Wolff, was the idea that it must be led by IT, involve a comprehensive data initiative mapping a 360-degree view of the customer and come with long, complicated RFPs.
“You do not need to connect together all of your customer data,” said Kaykas-Wolff. In fact, his company’s data shows organization often want to map over 100 digital fields to build a full-view of the customer, but less than 10% of customized fields are actually used to segment customers and activate the data for campaigns. He also says 82% of predictive data used for recommendations comes from behavioral data already, “at your finger tips.”
In other words, digital transformation doesn’t have to be a multi-year, or even multi-month, initiative.