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.
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