In today's data-driven marketplace, the need for valuable data has led to it becoming marketing's most valuable currency. But what makes data so valuable and what has changed in the marketplace to reinforce this notion? In the following, we will discuss why data is so valuable and how certain market conditions and changes have made it even more valuable. Today's global economy is data-driven. Whether it's a small business or a start-up, the need for quality data has grown exponentially.
We live in a world in which information and its appropriate usage are critical to the success of companies and individuals. Unfortunately, numerous issues arise in the process of data collection, distribution, and usage. Can Blockchain-based technology prove to be the long-awaited remedy for that? Data usage is important across all spectrums, but it has turned out to be absolutely paramount for the advertising industry. In fact, it's growing so fast that according to Statista it hit $591 billion in 2017 -- $209 billion of which was entirely dedicated to digital advertising.
APAC regional legal technology conference LexTech has launched an AI assistant to help facilitate a better conference experience, making its services available through Facebook Messenger -- a first in the local legal tech industry. Called, LEXi, the Artificial Intelligence chatbot was developed by Malaysia's CanChat and will focus on addressing enquiries of LexTech delegates in real-time via Facebook Messenger. Notably, between now and August 31, 2018, potential conference delegates can secure a 20% discount code by asking LEXi for one. Lee Su Wen, Director of the LexTech Conference 2018 said that: "By leveraging on AI capabilities, the chatbot is a smart and intuitive way to provide information and directions to our audience with great convenience and speed. With LEXi taking on these tasks, we are now able to more efficiently re-allocate our manpower to the more strategically-intensive departments, and by extension creating a better experience for all delegates."
Disruptive transparency-driven'democratized data' methodologies ushering in a brave new world of direct marketing--one that's more accurate, accessible and economical. One of the biggest challenges marketers face today is customer acquisition and retention. The key to both acquiring new customers and retaining current customers is possessing the critical data that can help you, one, communicate effectively with the highest qualified contact possible and, two, further identify the needs of your current customers to foster long-term loyalty. Unfortunately, the today's data industry is both far too complicated and highly fragmented, offering a confusing glut of choices that are overwhelming marketers who are in desperate need of this mission-critical information. The existing data marketing ecosystem of data and direct marketing list owners, managers and brokers is wildly inefficient and often ineffective, costing businesses untold millions in unnecessary time and money, and untold more in opportunity loss.