Oracle’s announcement that they are shutting down their ad tech division came as a surprise to their clients as well the industry at large. For media companies heavily reliant on Oracle’s data solutions, it served as a stark reminder: the ability to adapt to unforeseen changes is paramount in today’s data-driven landscape.

This isn’t just a concern for large enterprise companies. Media companies of all sizes need to prioritize data agility. But what exactly is data agility, and why is it so crucial for success in the media world?

Data agility: adaptability in the face of change

Data agility goes beyond simply having a lot of data. It’s about the ability to access, analyze, and leverage your data quickly and efficiently in a constantly changing environment. It’s the freedom to pivot strategies, swap data sources, and adjust workflows with minimal disruption when faced with unexpected challenges.

Since media businesses rely on their data as the backbone of their revenue generation strategy, it’s even more important for them to think about the agility of their data. Agile data can bring many benefits, including:

• Enhanced Transparency: With readily available, accurate data, media companies gain a clearer picture of audiences, campaign performance, and overall business health.
• Informed Decision Making: Agile data empowers media companies to react swiftly to market trends and audience preferences. Accessing and gaining real-time insights from  trusted data across the organization can inform campaign optimization, content strategy,  and resource allocation.
• Competitive Advantage: Data agility enables media companies to adapt to changing trends and audience behaviors, respond effectively to competitor moves, and maintain a competitive edge.
• Streamlined Collaboration: When data is readily accessible and easily shared across departments, collaboration flourishes. Agile data fosters better communication between marketing, sales, and finance teams, leading to a more unified approach.
• Resource Allocation: Even the most efficient data operations and engineering teams often struggle to field dozens of daily requests from across the company. Executives that prioritize data agility as part of their budgeting and staffing process can help relieve the  burden placed on their teams. 
• Future-Proofing Your Business: Data agility allows media companies to be prepared for the unexpected – whether it’s a new technology disruption, a regulatory shift, or a change in audience preferences. Companies that can adapt their data strategy and infrastructure to navigate these changes can avoid derailing their plans.

Building a foundation of data agility

So, how can media companies cultivate data agility? The first step is to invest in a flexible data platform that scales with your needs and offers seamless integration from all the sources that are important to run the business. Choose a data platform that allows non-technical teams to ingest and customize their data with proprietary business rules so they can perform independent analysis. Also consider cloud-based solutions for scalability and flexibility.

Next, make data governance a top priority. Establish clear policies and procedures around data collection, access, and security. This helps maintain data integrity and compliance with internal and external regulations. 

When strong systems are in place, work on developing a data-driven culture where data is readily available across the organization. Provide training and resources to empower even non-engineering members of the team with the skills to understand, analyze, and utilize data effectively.

When both your data platform and teams are up and running, don’t give in to the temptation to “set it and forget it.” Embrace continuous improvement by regularly evaluating the data strategy and infrastructure. Be prepared to adapt your approach as your needs and the media landscape evolve.

A proactive approach always wins

The Oracle situation demonstrates that even established giants can make decisions that disrupt their partners. That’s why taking a proactive approach to data management is essential. Here are few things to look for and some questions to ask when when selecting a data operations platform:

• Data Source Agnostic: Can the platform easily integrate with data sources across different parts of the business to avoid creating silos? Can it swap in alternative sources,  if needed, to minimize workflow disruption?
• Streamlined Data Management: How does the platform reduce complexity for your team? What is the process for data ingestion, transformation, and analysis? 
• Domain Expertise: Are they the right strategic partner? Do they bring relevant domain expertise and best practices into your organization? Can they provide the proper levels of support? 
• Modular Solutions: Does the platform have modules that are tailored to your specific use case such as campaign analytics, inventory forecasting, and revenue insights? 

Change is inevitable, but preparation is a choice

Thousands of years ago, an ancient Greek philosopher observed that change is the only constant. But change doesn’t have to derail your business. No matter which platform you choose, be sure to plan for the unexpected. By prioritizing data agility, media companies can build a resilient foundation that is adaptable, responsive, and empowers data-driven decision-making in the face of any future change.

About the Author

Ju-kay Kwek is a leader in creating enterprise-scale data analytics products. Before co-founding Switchboard Software, Ju-kay launched Google BigQuery and was a founding product executive for Google Cloud Platform. Ju-kay uses his expertise in media and audience data to help companies like Spotify, Target, DISH, and Dotdash Meredith.