AI has changed countless functions within companies. Increasingly, marketers are using AI to carry out data analysis that will enable them to better tailor messages to customers. AI and machine learning, used together, can help marketing organizations mobilize their data and put it to the best use to increase revenue.
Data cloud company Snowflake recently released a study entitled “Modern Marketing Data Stack 2023: How Data-Forward Marketers Are Redefining Strategies to Unify, Analyze, and Activate Data to Boost Revenue.” The report identifies the best-of-breed solutions used by Snowflake customers to show how marketers are leveraging the Snowflake Data Cloud with accompanying partner solutions – more than 40 of which are "Powered by Snowflake"-specific solutions – to best identify, convert and deliver differentiated sales and marketing experiences to loyal customers.
By analyzing usage patterns from a pool of approximately 8,100 customers as of April 2023, Snowflake identified 10 technology categories that organizations consider when building their marketing data stacks. The extensive research reflects how customers are adopting solutions from a rapidly changing ecosystem and highlights the convergence of adtech and martech, the increased importance of privacy-enhancing technologies, and the heightened focus marketers have on measurement to maximize campaign ROI.
The 10 categories detailed in the report include:
- Analytics and Data Capture*
- Enrichment
- Identity and Onboarders
- Customer Data Activation*
- Advertising Platforms
- Measurement and Attribution*
- Integration and Modeling
- Business Intelligence
- AI and Machine Learning
- Privacy-Enhancing Technologies
*The study found that the three fastest growing categories, by number of customers, year-over-year, included Measurement and Attribution (29.2% growth), Customer Data Activation (27.6% growth), and Analytics and Data Capture (27.4% growth)
“Despite navigating macro-economic pressures and decreased budgets, it's an exciting time for marketers given the pace of technology innovation and the forthcoming impact of AI and LLMs to disrupt, automate, and enhance the productivity of marketing teams," said Denise Persson, Chief Marketing Officer at Snowflake. "Our Modern Marketing Data Stack report highlights the best tools and solutions available to marketers so that teams can supercharge their ability to execute and drive results."
Edited by
Alex Passett
