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The Economist gets Data-driven
Technology Category
- Analytics & Modeling - Real Time Analytics
- Infrastructure as a Service (IaaS) - Cloud Computing
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions
- Business Operation
- Sales & Marketing
Services
- Cloud Planning, Design & Implementation Services
- Data Science Services
The Challenge
The Economist Group, a longstanding media company, faced the challenge of adapting to the digital age. With the addition of apps, web content, social media, blogs, debates, and audio/video programs, the company struggled to tie together the customer experience across all these platforms. They had numerous disconnected operational data sources, each telling a different story about the customer journey. This left The Economist Group with few insights into how to maximize revenues, determine the best steps for moving the company and products forward, entice advertisers, and deliver exceptional customer satisfaction.
About The Customer
The Economist Group, established in 1843, is a longstanding leader in the media industry. Originally a print magazine or newspaper publication, The Economist Group has had to reinvent itself in the digital age. They have expanded their offerings to include apps, web content, social media, blogs, debates, and audio/video programs. However, the expansion of their media properties has led to a disconnect between the company and their customer base. The company was left wondering how to better optimize services to customer preferences.
The Solution
The Economist Group decided to consolidate its customer data sources into Amazon Redshift, a cloud-based data warehouse. They started with just three data sources—web and app events, CRM, and marketing automation. Once the data was consolidated, they used Looker, a data analytics platform, to uncover real-time insights about customers and their preferences. The company began working with different departments to discover their data pain points and expand efforts from there. The goal was to analyze the value each team contributed to the overall business, and then expand efforts from there. The company set up a five-year plan and a proof-of-concept (POC) called REVEAL, starting with its customer acquisition team.
Operational Impact
