What's Happening?
At the Cannes Lions event, discussions have emerged around the complexities and costs associated with digital data supply chains. Dom Burch highlights that as digital channels expand and third-party cookies decline, businesses have invested in technologies
to connect customer data and measure outcomes. However, the focus is shifting from merely extracting value from data to understanding the costs involved in moving data through complex systems. Retailers, brands, and publishers are increasingly questioning the efficiency of their data supply chains, comparing them to physical supply chains where unnecessary handling and costs are scrutinized. The industry is at a point where it must evaluate which parts of the data supply chain genuinely add value and which are redundant.
Why It's Important?
The scrutiny of digital data supply chains is significant as it impacts the efficiency and profitability of businesses in the retail and media sectors. As companies generate more data and the demand for measurement increases, the costs associated with data handling can affect their bottom line. By questioning the current data infrastructure, businesses can identify inefficiencies and reduce unnecessary complexity, potentially leading to cost savings and improved operational models. This shift in focus could lead to a more sustainable approach to data management, benefiting companies by enhancing their ability to leverage data effectively while maintaining privacy and security standards.
What's Next?
As the conversation around data supply chains continues, businesses are likely to seek greater visibility and control over their data processes. This may involve reevaluating partnerships with data platforms and exploring new technologies that offer more efficient data management solutions. Companies that successfully address these challenges could set new standards in the industry, influencing the future of retail media and customer data infrastructure. The ongoing dialogue at events like Cannes Lions will likely drive innovation and collaboration among stakeholders, aiming to create more value from existing data assets.
