On 16th September, Lynchpin co-hosted a panel discussion with the title ‘Profiting from Business Intelligence’. We were joined by 4 Senior Marketers across different industries. Below, we have highlighted a few key themes and insights from the session.
The need for better integration
The panel highlighted a common challenge most organisations are facing today – data is often highly fragmented and a ‘single-view’ of the customer is both increasingly important but, in some ways, increasingly more difficult to achieve.
The panel noted that orchestrating a connected ecosystem can be difficult, but it is always necessary.
Responding to change / COVID accelerating the need for digital transformation
When discussing their main challenges today, the panel were quick to note that COVID has accelerated the pace of change. People are now integrating tech and adopting APIs better because COVID accelerated the need to adapt.
The panel remarked that being open to digital transformation, understanding the value in investing in the right tech and bettering processes will pay dividends in enhanced productivity and improved customer experience.
How leadership can enable a data-led culture and drive BI strategy
BI is all about obtaining valuable insights, the panel concluded. To do this, leaders need to be asking the right questions; helping to eliminate data silos and providing clarity on individual’s roles and responsibilities for managing data within the organisation.
Enabling personalisation vs. Data ethics
With such a large range of data sources available to businesses, it’s important that they aim to add value at every step of a customer’s journey. With strategies such as personalisation, the panel recognised that it is essential to have the people and the knowledge in place to keep a reign on fundamental matters such as ethics.
What was evident from the above discussion was how building a process and implementing an overarching analytics strategy was to success. To read about Lynchpin’s approach to BI, analytics strategy and digital transformation please visit https://www.lynchpin.com/benchmarking-strategy/ and https://www.lynchpin.com/digital-transformation/