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The Gist
- Data-driven strategies. Increasing customer experience demands industrialized, accessible data.
- AI-powered insights. Generative AI’s rise emphasizes democratizing data for all employees.
- Strategic partnerships. Strong collaboration between CMOs, CX professionals, and CIOs is essential.
Without question, data is the fuel of great marketing and great customer experience. According to MIT-CISR’s research shared in the book “Future Ready,” “The disadvantage of increasing customer experience without industrializing data is it adds more complexity to already fragmented systems and processes, increasing the cost to serve the customer.” Where this occurs, employees carry the torch every day for their customers. Even with the best intentions, these guardians of customer experience cannot succeed if customer data is hard to access.
At the same time, the authors of “Beyond Digital” suggest that organizations should aim for a system of privileged insights with customers because, “The better your insights, the more you can improve your value propositions in a way that is relevant for customers.” This implies that data should be equally important to CMOs and CX professionals.
Consequently, I consulted several Silicon Valley data executives on the steps organizations should take in 2024 to become data leaders and transform marketing and customer experiences. Their insights could be valuable for your journey forward.
Junaid Saiyed, CTO & SVP Engineering at Alation
“The next year is set to witness an unprecedented upsurge in the adoption of generative AI in the corporate world. Leading technology giants, such as Google, OpenAI, and Meta, together with emerging players, are poised to drive this trend through relentless advancements and innovations in the technology. Addressing the challenges of hallucinations in generative AI is crucial for establishing trust within the enterprise sector.
“However, the key to adoption lies in its democratization. It’s imperative for data leaders extend the accessibility and comprehensibility of generative AI beyond just technical teams. A pivotal step towards this is democratizing data — ensuring that all employees have access to high-quality, reliable data. The goal should be discovery and utilization of scattered but reliable data across an organization, enabling even non-technical personnel to effectively engage with data-driven generative AI tools. Cultivating a data-literate and inquisitive culture is essential, where every individual is equipped with the necessary resources to understand, analyze and make informed decisions using data.
“Organizations that reach this level of analytical autonomy and data culture maturity are poised to reap substantial benefits including enhanced customer experiences, streamlined operations and significant business growth, setting a new benchmark in organizational efficiency and innovation.”
Related Article: Data-Driven Strategies: How to Overcome Data Challenges in Business
Matt Watts, Chief Technology Evangelist, NetApp
“As AI gives us new insights and helps us transform the way we do business, we will need these models to move faster, be more intuitive and become more like us. However, they are limited by the pre-set parameters of developers and data scientists. The answer? Data pipelines that can constantly feed AI-driven applications so they can constantly learn and become more complex.”
Related Article: Challenges or Opportunities? Maximizing Customer Data to Thrive in 2023
Balaji Ganesan, Co-founder and CEO, Privacera
“In 2024, we expect increasing innovations in marketing and customer experience with data-driven organizations of any scale adapting and deploying GenAI. This transformation can only be successful with a unified data security governance strategy in place. And this in turn requires data leaders to apply controls to both, sensitive data, and AI, in a consistent and scalable manner.”
Related Article: How to Make the Customer Journey More Data Driven
Sarah Nagy, CEO & Co-founder, Seek AI
“In 2024, data leadership will require more than lagging software graphs and charts. Both internal stakeholders and external customers alike expect rapid answers to their ad hoc questions — ultimately driving the demand for AI-powered solutions that can provide quick access to dynamic data.”
Gleb Budman, CEO, Backblaze
“2023 was a year of budget optimization for businesses, especially around their tech investments. Many of them discovered new value outside of the challenging customer experiences common to restrictive tech ecosystems — think AWS, Azure, GCP. Going forward, these businesses who’ve gotten a taste of a more open cloud ecosystem are going to be expecting more: More freedom to select the services that work best for them (no matter which company provides them), better support, clearer billing and more trust.
“For cloud providers to achieve meaningful growth in 2024, they’re going to need to provide fully transparent and trustworthy pricing tools, empowering and approachable documentation and testing environments, and evidence of openness and interoperability with complementary tools that their customers value.”
Parting Words
Clearly, data is significant for CMOs and CX professionals. Here’s a summary of the insights from the aforementioned data leaders:
- Prepare for the business application of generative AI in marketing.
- Accelerate data retrieval, making data more accessible and understandable.
- Emphasize data literacy and aim for self-service access.
- Be vigilant in discovering and protecting sensitive data, ensuring new systems like generative AI are safe for use.
In 2024, data and its applications should take center stage. To achieve this, CMOs and CX professionals must forge stronger partnerships with their CIOs.
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