The importance of data literacy across the organization

The importance of data literacy across the organization

Companies are collecting more data than ever before in hopes of unveiling sophisticated insights about their customers, but there is one problem that stands in the way of those insights. That problem is a lack of data literacy. Most of your team likely struggles with interpreting and making sense of the data, nevermind being able to craft impactful stories. A lack of data literacy across the organization limits discussion and debate, making it impossible to produce factual, data-based decisions. Data can be a powerful tool, but (as with any language) only if everyone in the organization is able to speak it. Employees, leadership, and executives need a common understanding when talking about data. In the same way a single Spanish-speaking person leading a meeting doesn’t allow for other language speakers to participate, having only one or two people who understand data leaves out the ideas, questions, and solutions the rest of the team might contribute.Data skills are now essential for almost every...
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Understanding 1st, 2nd and 3rd party data for marketing success

Understanding 1st, 2nd and 3rd party data for marketing success

The 360 degree view of a customer continues to be the crowning glory for modern marketing organizations and the analytics teams that support them. It drives the segmentation strategies the organization needs to succeed and the personalization that consumers have come to expect.  As more and more customer data becomes available, the picture of the customer becomes ever clearer. However, as that picture becomes clearer so too do the rules, regulations and laws surrounding how you went about obtaining your 360° view. In this article, we demystify data concepts for you and clarify the meaning of first-party, second-party, third-party and even ZERO-party data. As marketers, it is critical that we have a clear understanding of the provenance of our data – where it comes from and what we can use it for. What is first-party data? First-party data is typically the most valuable to an organization; it is the data they own about their customers. It typically contains Personally Identifiable Information (PII) as well...
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