How to improve customer experience with a Data Lake
Posted: Wed Jan 22, 2025 4:21 am
A Marketing Data Lake provides access to all relevant marketing data and can be used for multiple purposes.
For data-driven marketing to be effective and bring us closer to our customers, we need to understand and work with data at all levels. To do this, we need to use flexible and agile tools that allow us to adapt, change and continue to rely on information to make decisions.
What are they?
Despite the investment many companies have made in recent years in applications ranging from online advertising management to web technology, marketing automation, CRM and more, most marketing departments find it difficult to answer key questions such as: “What is the value that different contacts, programs and marketing channels are providing us?” or “Are we just getting opportunities to fill the pipeline or are they providing us with real revenue?”
A recent study revealed that 78% of companies are still homeowner database to digest, analyze and interpret their current volumes of data.
Some data management solution providers offer a product known as a Marketing Data Lake , which allows self-service access to all relevant data.
Data Lake: Overcoming the Limitations of Data Warehouse
Marketing Data Lake Use Cases
A marketing data lake can be used by companies in a variety of sectors. Here are some examples of use cases:
Account-based marketing. Full visibility into an account (company) is a powerful concept that is often difficult to implement because most marketing applications today focus on leads rather than accounts. Account-based marketing can be supported with a Data Lake, as data from different sources can be combined to generate an account-based view of marketing interactions from different channels, making it easier to spot cross-selling and other opportunities.
Improve revenue forecasting. A data lake simplifies pipeline data management so that analysts have access to all data, not just partial extracts. This way, they can perform advanced analysis, from forecasting models to analyzing purchasing trends based on the products included in an online shopping cart.
Segmentation and Personalization. A Marketing Data Lake can help segment your target audience into meaningful, increasingly granular segments. This segmentation can be based on a wide range of relevant variables, as well as on information obtained about individual customer behaviors across channels and touchpoints.
Contact Form Abandonment. The contact form is the part of an online business that brings you closest to the customer. Getting someone to submit their data and questions through this form can potentially be worth a lot of money in sales. Insight into who started filling out these forms but didn't finish them and what potential revenue each person represents can guide strategies to encourage form completion as well as alternative forms of prospect follow-up.
You may be interested in reading:
How metadata prevents inconsistencies when working with Data Lakes
3 Key Benefits of Using Marketing Data Lakes
1) Find any data and discover important relationships
Marketing analysts are looking for an efficient way to manage the “volume, variety, and velocity” that is often associated with big data . We can uncover customer data that exists through an automated discovery process powered by machine learning. This allows us to dig deeper into this data to identify meaningful relationships that can then feed into highly accurate, targeted customer, marketing, and sales analytics.
Instead of a time-consuming manual process, real-time synchronization and linking of big data accelerates the way data is mastered and relationships between the most critical data for the business are discovered.
2) Quickly prepare and share the data you need
Critical data can be quickly prepared and made available to deliver competitive marketing analysis. Efficient, repeatable and collaborative processes enable data delivery to be prioritized, providing the right data at the right time to decision makers to quickly realize business value.
For data-driven marketing to be effective and bring us closer to our customers, we need to understand and work with data at all levels. To do this, we need to use flexible and agile tools that allow us to adapt, change and continue to rely on information to make decisions.
What are they?
Despite the investment many companies have made in recent years in applications ranging from online advertising management to web technology, marketing automation, CRM and more, most marketing departments find it difficult to answer key questions such as: “What is the value that different contacts, programs and marketing channels are providing us?” or “Are we just getting opportunities to fill the pipeline or are they providing us with real revenue?”
A recent study revealed that 78% of companies are still homeowner database to digest, analyze and interpret their current volumes of data.
Some data management solution providers offer a product known as a Marketing Data Lake , which allows self-service access to all relevant data.
Data Lake: Overcoming the Limitations of Data Warehouse
Marketing Data Lake Use Cases
A marketing data lake can be used by companies in a variety of sectors. Here are some examples of use cases:
Account-based marketing. Full visibility into an account (company) is a powerful concept that is often difficult to implement because most marketing applications today focus on leads rather than accounts. Account-based marketing can be supported with a Data Lake, as data from different sources can be combined to generate an account-based view of marketing interactions from different channels, making it easier to spot cross-selling and other opportunities.
Improve revenue forecasting. A data lake simplifies pipeline data management so that analysts have access to all data, not just partial extracts. This way, they can perform advanced analysis, from forecasting models to analyzing purchasing trends based on the products included in an online shopping cart.
Segmentation and Personalization. A Marketing Data Lake can help segment your target audience into meaningful, increasingly granular segments. This segmentation can be based on a wide range of relevant variables, as well as on information obtained about individual customer behaviors across channels and touchpoints.
Contact Form Abandonment. The contact form is the part of an online business that brings you closest to the customer. Getting someone to submit their data and questions through this form can potentially be worth a lot of money in sales. Insight into who started filling out these forms but didn't finish them and what potential revenue each person represents can guide strategies to encourage form completion as well as alternative forms of prospect follow-up.
You may be interested in reading:
How metadata prevents inconsistencies when working with Data Lakes
3 Key Benefits of Using Marketing Data Lakes
1) Find any data and discover important relationships
Marketing analysts are looking for an efficient way to manage the “volume, variety, and velocity” that is often associated with big data . We can uncover customer data that exists through an automated discovery process powered by machine learning. This allows us to dig deeper into this data to identify meaningful relationships that can then feed into highly accurate, targeted customer, marketing, and sales analytics.
Instead of a time-consuming manual process, real-time synchronization and linking of big data accelerates the way data is mastered and relationships between the most critical data for the business are discovered.
2) Quickly prepare and share the data you need
Critical data can be quickly prepared and made available to deliver competitive marketing analysis. Efficient, repeatable and collaborative processes enable data delivery to be prioritized, providing the right data at the right time to decision makers to quickly realize business value.