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[DataDiary] Is your data ready for 2018?

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Data wise, 2018 is going to be a hell of a year. Are you ready for the ride?
 
December 27 · Issue #4 · View online
DataDiary by InnerTrends
Data wise, 2018 is going to be a hell of a year.
Are you ready for the ride?

Earth citizens get 2 new fundamental rights:
  • the right to erasure (aka “the right to be forgotten”) and
  • the right of data access.
Pretty much every company and organization in the world will need to respect these rights. EU has done it this time.
The user becomes the true owner of the data that is collected about him. He can ask to see his own data, to delete it or to change it at any moment.
On one side, this adds pressure to companies as they need to put in place internal processes to make it possible for users to control their own data.
On the other hand, users will be more empowered. This will bring great opportunities for the world of business to benefit from.
Transparency and accountability will be the norm and this can only be great news.
2018 will be the year when machine learning and artificial intelligence become more available when it comes to transforming data into knowledge.
The first among your competitors that will use machine learning in their data strategies will have a significant advantage: higher ROI.
Why? Because machine learning tells them (literally) the shortest route with the least resources to reach their goals.
To get there, you first need to switch the way you use data from being reactive to proactive.
Reactive is when you use your web analytics tool to identify the areas where things went wrong and try to fix them.
It’s when you launch a marketing campaign, your web analytics tool reports it as underperforming, and you decide to adjust the campaign hoping it will do better…
However, some brands realized that they could let data tell them (predict) which campaign would maximize the chances of reaching that goal.
That’s being proactive.
The question is, will you let your competitors take the lead at converting data into dollars?
On this note, I wish you a very productive 2018. See you next year. :)
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