Title

AWS re:Invent 2023 - Mining Real-Time Data in Financial Services and Travel & Hospitality (CEN301)

Summary

Matthew Gray from Telium discusses the importance of mining real-time data, focusing on financial services and travel & hospitality sectors.
The end of browser-based data collection, such as third-party cookies, is imminent, leading to significant drops in ad attribution and return on ad spend analytics.
Financial services aim to increase share of wallet and need to unify customer data, which is challenging due to data silos and regulations.
Real-time personalization and omni-channel marketing are crucial for engaging customers effectively.
Travel and hospitality industries face similar challenges in providing timely and relevant offers to potential customers.
AWS provides a range of services for data storage and processing, but partners like Telium offer specialized customer data platforms to enhance real-time engagement.
Telium, built on AWS, integrates with numerous data sources and targets, enabling brands to collect, enrich, and activate data at scale.
Effective real-time data mining leads to better customer engagement, more leads, and increased conversions, ultimately resulting in a higher share of wallet and more efficient ad spend.

The impending end of third-party cookies is a significant concern for industries reliant on digital marketing, necessitating new strategies for customer data collection and analysis.
The concept of a "customer 360 view" is widely sought after but difficult to achieve, especially in regulated industries like financial services.
Real-time engagement is becoming increasingly important, with companies needing to respond to customer actions and preferences almost instantaneously to remain competitive.
AWS's partner ecosystem, including companies like Telium, plays a critical role in providing the necessary tools for real-time data activation that AWS's native services may not offer.
The shift towards mobile dominance in customer interactions highlights the need for optimized mobile experiences and personalized marketing strategies.
The concept of suppression in marketing, where customers are not targeted for products they have already purchased, is an important aspect of efficient ad spend and customer experience.
Telium's presence at AWS re:Invent and their partnership with AWS indicate a collaborative approach to solving the challenges of real-time data mining and customer engagement.