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Technology Featured Global

Databricks launches new data lakehouse for retailers and consumer good customers

Singapore – Global data and AI company Databricks has recently launched Databricks Lakehouse for Retail, which is a new centralized data and AI platform catered to retailers and consumer goods (CG) customers. Some of its early adapters include Walgreens, Columbia, H&M Group, Reckitt, among others.

With Databricks’ Lakehouse for Retail, data teams are enabled with a centralized data and AI platform that is tailored to help solve the most critical data challenges that retailers, partners, and their suppliers are facing. In addition, it delivers an open, flexible data platform, data collaboration and sharing, and a collection of tools and partners for the retail and consumer goods industries

Designed to jumpstart the analytics process, new Lakehouse for Retail Solution Accelerators offer a blueprint of data analytics and machine learning use cases and best practices to save weeks or months of development time for an organization’s data engineers and data scientists.

Some of the solutions offered include real-time streaming data ingestion, demand forecasting and time-series forecasting, as well as machine learning-powered recommendation engines.

Ali Ghodsi, CEO and co-founder at Databricks, said, “Databricks has always innovated on behalf of our customers and the vision of lakehouse helps solve many of the challenges retail organizations have told us they’re facing. This is an important milestone on our journey to help organizations operate in real-time, deliver more accurate analysis, and leverage all of their customer data to uncover valuable insights. Lakehouse for Retail will empower data-driven collaboration and sharing across businesses and partners in the retail industry.”

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Technology Featured APAC

Study says majority of marketers in ANZ mainly use data to improve ROI

Sydney, Australia – About 91% of marketers in Australia and New Zealand are prioritizing the use of marketing data to improve ROI and marketing efficiency, said a joint study by marketing intelligence platform Salesforce Datorama and marketing research agency The Leading Edge.

The study examined 285 marketers across ANZ on how they integrate marketing data to measure impact and business growth, and almost all of the respondents – 93% – have shifted their priorities to focus on marketing-led growth.

“Marketers are seeing their role evolve as they are responsible for propelling business-wide outcomes. As they become increasingly accountable for operationalizing growth mandates across the entire organization, they need to embrace a data-driven culture and modernize their approach to marketing measurement,” said Jay Wilder, senior director of product marketing at Salesforce Datorama.

The study also showed the biggest barriers that marketers face in driving growth around data, where data mismanagement, lack of a unified view of performance, and lack of real-time insights came out as the top three.

Although 86% of ANZ marketers see the importance of a complete view of cross-channel marketing, they face a number of roadblocks when it comes to integrating their data for that holistic view. According to the study, 69% of marketers still integrate data manually to an extent with the same percentage of marketers revealing that they spend a week or more on harmonizing data from disparate channels.

Aside from such challenges, the study revealed that there is room for improvement when it comes to data analysis and optimization, as 73% of marketers do not have access to real-time insights. 

Furthermore, nearly half, or 47% of marketers, experience misalignment across teams on measurement, with reporting sharing and collaborating on data analysis remaining a challenge for 36%. 

Marketers are making progress as they move forward in their data journey and shift priorities to focus on business growth. The study showed that there 61% of marketers receive growing support from senior leaders for a stronger uptake of data-driven marketing. Meanwhile, 62% are in firms that have been making investments in marketing analytics technology, while the same percentage have been achieving alignment on the KPIs that matter the most.

“A successful growth marketing strategy requires the strategic alignment of people, processes, and technologies. Bringing together an understanding of key growth priorities and challenges, leadership support, investment, and an aligned measurement strategy will drive ANZ,” said Wilder.