Recently a client posed this challenge to us:
“Our current understanding of onsite behaviour, lifetime value, journey trigger points, as well as ideal product mix range/combination is limited. There are some key questions that need unlocking to support trading and portfolio strategy to help shape digital plans.
However, moving forward, our plans are to maintain and grow that customer base for next year and beyond. In order to do this, we need to understand more on key customer base behaviour drivers.”
If we look at the Hierarchy of Insight visual (which we have learned to love here at Yard), it is clear this client’s attitude and maturity levels currently sit between the Knowledge and Wisdom segments, and after the Analysis work of our data science team and the changes implemented by means the client is cruising into the Wisdom segment: a client that has managed to achieve an all-time high in terms of sales is now wise enough to reinvest in their processes, data and have their assumptions challenged in order to ensure that the growth achieved, is maintained.
We’re becoming obsessed with data maturity. Internally we call it ‘data transformation’, mostly because we are a little tired of the catch-all phrase ‘digital transformation’. By data transformation, we really mean the maturity of a business data processes.
Our CTO, Paul created this maturity model which offers a timeline and maturity scale for clients using our data science platform Cubed. Cubed is a data collection & management platform that provides machine learning-based attribution; Cubed shows marketing insights per channel and provides real-time transaction propensity scoring.