Mike Bregman, chief data officer for Havas Media, believes that “citizen data scientists” represent a massive untapped market potential.
In an interview with Beet.TV, Bregman talked about his history within market analytics, including the advancements seen in the industry and newfound ways to collect data sets from consumer groups.
He believes that in the modern era, a data analyst could “create their own bespoke (audience) segment.”
“That doesn’t have to be someone who’s bought the product before. It could be someone who has bought a competitive product. It could be someone that’s bought it three times, but not four times. It’s not just about reaching the consumer. It’s about trying to build lifetime value.”
Bregman also discussed the potential hazard of data owners being too isolated with their use of data, believing that larger companies are attempting to create a “closed loop within their own environment.”
“As the ecommerce space becomes more expansive and more cross retailer, it’s going to be hard for them to figure out which one actually got the conversion or which marketing dollar caused the conversion at that retailer.”
For a fuller look at the interview, check out Beet.TV’s coverage: Retail’s ‘Citizen Data Scientists’ Could Predict The Future Of Ads: Havas’ Bregman – Beet.TV
