A major topic of discussion among the world's top brands attending the “Unleashing Data: Innovations in Marketing, Research and Insights” summit in New York this week has been the power of integrated streams of data in yielding huge insights. Acknowledging that it takes considerable effort and resources, the analysis coming from the integration of this data is providing rich information and clues to behavior never seen before.
At Disney, for example, all of their brands are informed by deep data that is integrated across all of their brands and properties: Disney Channel, Disney Stores, Disney Theme Parks, Disney Cruise Line et al. The data collected by each stream is freely shared with the others to provider deeper and deeper insights. And they are learning things that are changing the way they do business.
"Kidfluence" is one example of the findings that are coming out of this work. According to Marc Normand, Vice President of Research for Disney Media Sales and Marketing, Disney believes that everyone should be paying attention to the data being generated around kids. Not only do they provide important clues to, for example, future technology use, the kids marketplace today has become the gateway to all things family. Disney has documented that the presence of kids changes everything about the household behavior. In fact many behaviors that are ascribed to millennials are changing when children arrive. Millennials with children begin to behave like, well, families! Given that only 20% of millennials have children at this point, we are just beginning to feel this impact and should be paying close attention.
According to Disney’s data, the reality today defies the previous expectation that "dual income no kids" adults represent the "early adopters" and highest technology users. The fact is that kids are driving household technology adoption! ALL technology use in a household goes up with the presence of kids. In the first quarter of 2015, they compared total U.S. households to households with kids under 12, and–whether it was smart phones, tablets, video streaming services, or a myriad of other technology—every one reported significantly higher use in households with kids. And all sorts of brands are beginning to take notice: check out this article in Bloomberg: "Why HBO, Netflix, and Amazon Want Your Kids." Kids, it seems, have "become a front line in the war of streaming services that can't afford to lose adults between seasons of prestige dramas."
For both Netflix and Amazon, it took looking at their data streams in an integrated way to identify this key insight: "kidfluence" has the power to fundamentally change their business. If "kidfluence" is an example of an outcome that happens when streams of data are integrated and mined for these companies, what critical insight is currently hiding in your data?
For more on the impact of "kidfluence" on buying behavior, download our deep dive: