This is especially true when it comes to knowing which data is most important in order to understand consumers. It is less about WHO they are, WHAT they did, and much more about HOW they behaved. The way consumers behave on an online platform will tell you more about their propensity to spend than other factors. Brands need to capture this data, and many do not.

With the advance of automation, the field of digital marketing is changing in profound ways. While advertisers used to outsource their campaigns to external partners in the past, many are now increasingly shifting to carrying them out in-house due to the increasing accessibility of technological resources. Although this may seem simple at first glance, it proves to be much more complicated when faced with the harsh reality of onboarding a variety of tools. Advertisers need consulting, which presents itself as an opportunity for a growing number of IT consultancies on the market. Will they eventually eliminate established media agencies?

In an ideal world, businesses would know exactly how much they can sell, when and where. But building an effective demand prediction model is easier said than done, especially when the retail sector is getting increasingly fragmented.