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Both Amazon and Walmart are sharing more valuable data than ever. If you’re like most brands, you’re trying to figure out how to produce insights that drive your business forward.
But where do you begin?
The answer is to craft a data strategy. When you have a data strategy, all sorts of critical data points come into focus, and running custom analytics becomes possible.
By unifying your disparate reports, you can easily track:
In this webinar, our CEO Sreenath Reddy shows you why brands that build an intentional data strategy have a competitive advantage on marketplaces like Amazon and Walmart.
When you’re creating your data strategy, it’s important to think of it in stages:
Collect and own. Be sure you build and maintain high-quality data pipelines.
Enrich. Add custom data, like custom product groupings, product costs, and more, in order to make your data as actionable as possible.
Visualize and analyze. Envision and build reports and dashboards.
Actions. Be ready to implement changes to your ad strategy based on those insights that you receive.
One common trap that brands fall into is giving away their data to third parties, without fully realizing it. At Intentwise, we make sure you own all of your data, and we encourage all brands to think carefully about their choices around their data.
Make sure that any agencies or service providers you work with allow you to keep your data, even if you walk away from their business. If your data is contingent on your continued business relationship with them, you’ll run into trouble quickly.