Zemel: Sort through the data for actionable market research
NOVEMBER 29, 2011 – When it comes to designing an advertising campaign that will resonate with audiences, data is power. However, the wealth of data now available can prove overwhelming for companies unable to sort through it all.
In an interview with the Advertising Research Foundation, the chief analytics officer and executive vice president for [x+1], Leon Zemel, described how his company helped Allstate turn the market research it had already conducted into a better understanding of its customers.
Zemel told the ARF that the client wanted to get a better sense of which marketing efforts were the most effective. To do that, the two companies collected even more data in a central location, then performed various forms of analysis to “reveal trends and apples-to-apples comparisons across tactics, buy types, cost centers, etc.”
Despite the many possibilities this form of market research can offer, there are also challenges and necessary precautions, including protecting customer data. New Europe reports that regulators on the continent are working to improve the legal framework that aims to keep citizens’ data secure.