Berlin, 27 February 2018 - Study on digital data by HDM Stuttgart, in association with Webtrekk
German companies believe in the economic potential in using their own digital media and are planning to heavily invest in future data storage and analysis. This is the result of a study published by the Hochschule für Medien (HDM) Stuttgart, in association with Berlin data analytics provider Webtrekk, surveying 300 corporate decision-makers from a range of industries, including automotive, IT and publishing.
Data helps you better understand customers
84% view using customer intelligence and analytics as a way of optimizing the customer-oriented actions of their companies. Data and analytics initiatives are expected to boost sales and strengthen customer loyalty. Usage data is regarded as the basis of the personalized user experience.
Jürgen Seitz, Professor at HDM, said: "These answers from experts and decision-makers clearly show that customer-centricity is becoming increasingly important for companies."
Data ownership as a competitive advantage
The surveyed companies rely on the collection and use of their own data (first party data). 68% are concerned about the data power of large platforms and therefore desire data ownership. According to experts, the willingness to invest in customer intelligence, analytics and data ownership will not drop in the future. Data ownership is essential for companies to secure their position in the market. Seitz said: "Data ownership and the careful handling of data is regarded as a competitive advantage.”
Christian Sauer, Webtrekk founder and advisory board member, said: "Companies should not hand over their data to others, instead they should build and protect their customer knowledge. Major marketing platforms like Google and Facebook can be optimized with data ownership. Some customers save up to 25% of their marketing budget."
Data protection is a both a challenge and desire for companies
The upcoming data protection changes are seen by the majority as challenges to an industry with a high dependence on customer data. However, data leakage is understood as a major problem too, one the data protection regulation (DSGVO) wants to solve. Sauer said: "We see the high standard of data protection in Europe as an advantage. It is only when all companies adhere to the same rules that there will be real competition. Transparency is a requirement of the DSVGO and should be demanded by all providers. Companies investing in their own data is welcome from a data protection point of view — data protection issues arise through shared third-party data pools across different companies.”
Webtrekk is a customer intelligence platform that enables clients to connect, analyze and activate user and marketing data on all devices. Founded in 2004, Webtrekk is headquartered in Berlin and has offices in Milan, Madrid, Amsterdam and Beijing.
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