EVP Eugene Lee is at the iMedia Agency Summit: The Future of Data Driven Creativity, bringing back some interesting takeaways:
• Cool demo from Affectiva that uses facial recognition to determine brand engagement http://www.affdex.com/
• Content marketing will get 40% of social spending in 2014 – @seanx
• The landscape today means that you have to be an organization of “makers” @kristikarens
• Data is a sharper tool, but now you can hurt yourself more easily- @seanx• Good data does not fix bad creative – @shenan
• The person with the most data doesn’t win. It’s the one who does the most with the data they have- @philsimon• Today’s data ecosystem can answer all the marketing questions and deliver ads in real-time: who, what, when, how
• The two halves of who we are cannot survive without one another, the analytical side and emotional side
• According to Google there has been a 49% increase in RTB and 30% of internet traffic happens on a mobile device
Director of Supplier Partner Relations Gazelle Afshari shares a dispatch from the ISM National conference in Las Vegas (she’s president of the Philadelphia chapter).
Joe Walsh, VP at Intermountain Healthcare spoke about utilizing Social Media in procurement as a resource tool to stay connected with the suppliers.
Communicate: How can we effectively communicate key information to all of our suppliers?
Collaborate: How can we provide a forum to collaborate and extract ideas and insights from our suppliers?
Contact Info: How can we keep our supplier contact information up-to-date and share that info across our organization?
Stay Current: How can we stay up-to-date with everything our suppliers want us to know?
Track History: How can we effectively track our interactions and history with suppliers and share that across our organization?
After installing a social platform, Intermountain Healthcare (case study company) now are able to have a central and shared location to track their history and interactions with all of their suppliers. If an employee leaves, this history now stays with them. Imagine…having a single network, like Facebook, where ALL buyers and suppliers exist –regardless of industry. We can improve collaboration and together build a more efficient supply chain.
Jason Busch of Azul Partners presented a vision for how procurement and spend analytics will evolve in the coming decade, including the incorporation not just of new datasets but also new tiers of supplier and supply chain information in an increasingly interconnected world and the power of big data applied to procurement activities, from cost reduction to global expansion to supply assurance and risk management.He offered this list of recommendations to the procurement and supply chain attendees:
The future of analytics: 10 recommendations to get started right now
1. Walk before you run – invest the time to achieve basic visibility into as close to 100% of your spend as possible before pursuing advanced capabilities, techniques and integration approaches
2. Work with business and functional stakeholders to understand what types of data sets are available to work with in tandem with G/L and invoice-derived spending and payment data
3. Drill baby drill! Don’t be afraid to explore deeply combinations of datasets that might at first seem to show little opportunity or patterns
4. Get out of the reporting mindset and look beyond standard, canned reports as a means to identify new savings opportunities after first wave savings are achieved
5. Take greater control of spending data by creating a repeatable process
6. Eventually explore linkages between spend analysis and other components of sourcing and procurement suites (including third-party tools integrated together)
7. In highly advanced deployments, use spend visibility as a tool to close the compliance gap where contract management, P2P and ERP technologies alone are insufficient
8. Work backward – think about the ideal process and outcomes your organization would like to enable through spend analysis versus working forward from the current approaches that may have worked in the past
9. Take over for the failure of IT-led BI initiatives when it comes to bringing together different data silos from across the company
10. Think big! Big data first.
Now, today’s other hot news.
May 12 is International Nursing Day, and many feel that nurses could ‘save’ our healthcare industry. But a new study shows nurses have many of the same stresses as doctors and other HCPs, including feeling overworked and underpaid.
Google is close to acquiring online ad attribution firm Adometry, which will greatly improve Google’s offerings in measurement and analytics. (Thanks Senior Campaign Analyst Matt Lukoff for this story.)
USA Today reports: “In the latest deal in the pharmaceutical space, Germany-based Bayer is acquiring Merck’s consumer care business, which includes well-known brands including Claritin, Afrin and Coppertone, for $14.2 billion.”
Facebook continues to be a top way to reach and engage young adults, according to a new study.
Innovation story of the day: a student at Harvard created a home 3D printing machine that can print custom makeup, all for around $300.
-Carly Kuper, VP, Strategic Marketing & Corporate Communications
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