Keeping up with our fast-paced world means marketing has to move quickly. Conversations are no longer limited to campaign or growth metrics for marketing. Marketers now need to demonstrate their impact on revenue, market share, customer lifetime value, margins, customer experience, brand sentiment, and more.
To understand where marketing adds value and to drive continued innovation, marketers need a holistic view of their customers‘ behavior. That requires looking at vast data sets across multiple sources. Bringing together siloed data sets such as purchase data, website traffic data, paid media data, loyalty program data, email data, and mobile data creates an invaluable view of what causes customers to convert and what causes them to churn.
Scalable personalization initiatives can increase customer lifetime value, multi-touch attribution models enable marketing dollars to be allocated more effectively, and machine learning algorithms enhance customer experiences.
Initiatives to increase personalization can create a significant competitive advantage for any marketing organization, but it’s important that getting customer 360 data prioritizes both access to near real-time data and data security and governance. To do their jobs most effectively, marketers need a consumer-grade analytics experience. At the same time, amid increased attention on consumer privacy, organizations may also choose to build a privacy-safe data clean room1 to protect customers’ personally identifiable information (PII) when it’s joined with other data sets.
Here are four reasons why ThoughtSpot and the Snowflake Data Cloud are ideal technologies to unify and understand customer data, providing data-driven, actionable insights:
1. Governance and Security to Ensure Customer Information Is Safe
First-party customer data is a unique and highly valuable asset, and organizations’ top priority should be to ensure that it remains safe and secure.
Snowflake is built on a multilayered security foundation that includes encryption, network monitoring, and physical security measures with comprehensive monitoring, alerts, and cybersecurity practices. The Data Cloud also offers robust access controls to prevent the misuse of PII, making it easy to restrict access to sensitive data to a small number of individuals. With ThoughtSpot, user access and governance can be set at any level of the data, giving customers the ability to control who has access to what data without sacrificing usability or experience.
Marketers can also use Snowflake to power data clean rooms, which provide a secure environment for multiple companies—or divisions of a single company—to collaborate across data sets for the purposes of targeting, measurement, enrichment, and more.
2. Consumer-Grade Analytics for Easy Access to Insights
Marketers, regardless of role or function, can have real business impact if they have access to data-driven insights. That access shouldn’t require deep technical skills. With ThoughtSpot, every marketer can ask questions of their data, and get answers through the ease of search. Using the power of search and AI-driven insights, every marketer can see and analyze what activities they should adjust or amplify to drive the deepest impact to customers and sales. Instead of relying on analysts, dashboards, or reports, marketers can get a view across data everywhere their customer interacts with them, meaning they get a true understanding of where they’re seeing successes and where they’re not.
Equipped with this information, marketers can make real-time optimizations to campaigns, promotions, and customer interactions, while maximizing brand interactions with their customers, all based on insights and patterns.
ThoughtSpot connects directly to the Snowflake Data Cloud via a live connection, eliminating the need to ever extract, sync, or wait on data to become available. The Data Cloud’s impressive performance means marketers can tap into all their data immediately from a variety of sources, allowing them to continually optimize customer 360 profiles without downtime.
3. Near Real-Time Data Integration and Support for Structured and Semi-Structured Data
Personalization, multi-touch attribution, and other machine learning models require up-to-date information to function as intended. Data that is even two or three days old can greatly reduce their accuracy and ROI. Historically, it was difficult for data science teams to access and query real-time data across multiple data silos.
But with Snowflake and ThoughtSpot, marketers, data analysts, and data scientists can access and query customer information in near real time, which is critical for the holistic and up-to-date view of customers required for advanced analytics. Snowflake can also natively support structured data, such as entries in CRM fields and location data, and semi-structured data, such as JSON from a website, which lets marketers harness more power from their analytics tools like ThoughtSpot.
4. Scalability and Support for Concurrent Workloads
Personalization of content and ads at scale require a large amount of computing resources, which was historically too expensive for many companies.
But Snowflake’s instant elasticity makes it possible to scale up and scale down computing resources on demand as needed. This removes scheduling and data batching concerns, and frees data science and analytics teams to run models and update dashboards whenever they need to. In this way, marketers can ensure they have the computing power needed to build and maintain a 360-degree view of the consumer that is fresh and up-to-date.
For more information about how ThoughtSpot and the Snowflake Data Cloud help marketers build a 360-degree view of their customers and make it actionable for advanced analytics, join us for our Marketing Analytics Forum on June 24.