VIDEO | Focus on Customer Lifetime Value with Advanced Analytics — Artefact Consulting Director

(US and Canada) Samantha Lopez, Consulting Director at Artefact, speaks with Kellie de Leon, Senior Director of Marketing at Treasure Data, in a video interview about digital transformation, improving data strategy, driving audience segmentation, developing and implementing Data Management Platforms and Customer Data Platforms, assessing the quality of customer data, and creating an actionable roadmap with quick wins.

Lopez begins by stating that the first step in digital transformation is to evaluate the quality and consistency of the data. She suggests creating a roadmap to guide users from where they are to where they need to be. Next, she points out that it is essential to make it easy for brand teams and business leaders to access the data through an interface and digest it to impact and enact changes. She adds that the success of the transformation should be continuously measured to fully valorize it.

Further, Lopez emphasizes the importance of having a roadmap to ensure the successful implementation of a technology transformation. In addition to strategizing and implementing, action must be taken to pilot the project and evangelize the advances it offers. She also advises that people must be mindful of the quality and prioritize the accessibility of the technology within the organization to ensure quick wins.

Moving forward, Lopez mentions that her company has extensive experience in helping brands develop and implement Data Management Platforms (DMPs). With DMPS having shifted to Customer Data Platforms (CDPs), she asserts that organizing and unifying customer data is essential for brands to drive audience segmentation, targeting, and customer service.

To help brands in their data strategies, Lopez recommends that they start with Customer Data Platforms (CDPs) while complimenting the technology with their business needs. Artefact partners with corporations such as Treasure Data, that allow brands to have a unified view of their customers and to take action using the gathered data. Additionally, Lopez advises brands to ensure their customer data is in order and that the different technologies they use can store and use the data.

Furthermore, she claims that CDP implementation projects provide an opportunity for workshops with clients, business leaders, and technical leaders to identify the data and determine whether or not it is relevant. These conversations allow potential dialogues within the organization on how they should proceed and the opportunity to assess the value of technology as a strategy.

Lopez stresses that the aim is to maximize the value of the technology and have an actionable roadmap for the future. The purpose is to save time and money while increasing efficiency.

By making the data available, analysts can focus on obtaining value rather than running around gathering information, says Lopez. She recommends analysts move on to customer lifetime value and propensity modeling and do more advanced analytics instead of spending a lot of time tackling basic analytics.

CDO Magazine appreciates Samantha Lopez for sharing her insights, and success stories with our global community.

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