Deloitte Releases Global Data Maturity Report in Collaboration with the Google News Initiative Bookmark has been added
Deloitte Releases Global Data Maturity Report in Collaboration with the Google News Initiative
Provides actionable steps for how publishers can assess and improve data maturity, across nine business areas, to increase user engagement and drive revenue
NEW YORK, March 25, 2019 — Deloitte published a global data maturity report with support from the Google News Initiative, a first in a series that examines how companies can use data to increase user engagement on digital platforms and drive value through the monetization of those platforms.
The initial report, “Digital transformation through data: how news and media companies are delivering more value with insights,” outlines how publishers can responsibly collect, analyze and activate audience data to improve overall engagement, increase direct-paying relationships with readers, and drive revenue from advertisers.
The report found more than 90 percent of surveyed news and media companies are lagging in data maturity. In addition, nearly 3 in 4 publishers have defined objectives for using audience data, but more than half are unable to realize the benefits.
Our research finds a significant disparity in data maturity around the world. News and media companies are struggling to apply audience data insights to better understand and communicate with their readers. To close the execution gap, we’ve provided a path forward for publishers through structuring this complex topic into nine core business areas, with actionable recommendations to improve in each. In addition, we’ve identified four foundational elements: culture and ways of working, technology, skills
— said Robert Aitken, managing director, Deloitte Consulting, leader, Future of Advertising initiative
Some notable observations include:
- Best-in-class news and media companies are seeing conversions increase by up to 30 percent on some noncore products and driving up to 20 percent more subscriptions than less mature companies, while others are building entirely new revenue streams (e.g., classifieds, events, gaming
ande-commerce) based on insights into what readers are likely to buy.
- News and media companies adept at using audience engagement data can optimize cost per thousand impressions (CPM) across both direct and programmatic channels by up to 20 percent compared to less mature companies, as well as expand the scope of advertising campaigns based on rich reader insight.
Accompanying the report is a data activation guide with actionable steps for news and media companies to improve their data maturity, as well as a diagnostic tool for companies to assess their data maturity, developed by the Google News Initiative in collaboration with Deloitte.
There is no one-size-fits-all approach to digital transformation, but what is universal is that readers want great content and user experiences. Harnessing data insights, in a responsible and relevant way, will help publishers gain a competitive edge in the digital news world.
— Ben Monnie, director of Global Partnerships Solutions, News & Publishing at Google
The report is based on findings from interviews with more than 80 individuals across more than 50 news and media companies from 16 countries across the globe. Additionally, interviews were conducted with more than 20 technology providers, advertisers
Four maturity levels were observed;
- Level 1 (Nascent)
- Level 2 (Developing)
- Level 3 (Mature) and,
- The most advanced, Level 4 (Leading)
Visit the Deloitte website to download and read the full report.
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