The Snowflake Modern Marketing Data Stack report has found the use of AI and Machine Learning among marketing teams has increased by 15.5%.
Data Cloud company Snowflake has released its Modern Marketing Data Stack 2023: How Data-Forward Marketers Are Redefining Strategies to Unify, Analyze, and Activate Data to Boost Revenue report.
Snowflake’s data-backed 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 – 40+ of which are Powered by Snowflake – to best identify, convert, and deliver differentiated experiences to loyal customers.
By analyzing usage patterns from a pool of approximately 8,100 customers as of April 2023, Snowflake identified ten 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 ten categories detailed in the report include: Analytics & Data Capture, Enrichment, Identity & Onboarders, Customer Data Activation, Advertising Platforms, Measurement & Attribution, Integration & Modeling, Business Intelligence, AI & Machine Learning, and Privacy-Enhancing Technologies.
“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.”
• The three fastest growing categories, by number of customers, year-over-year:
o Measurement & Attribution (29.2% growth)
o Customer Data Activation (27.6% growth)
o Analytics & Data Capture (27.4% growth)
• Marketers continue to bolster their modern marketing data stacks – the providers named across the Modern Marketing Data Stack categories have seen, cumulatively, an increase in customers on the Snowflake Data Cloud ranging from the low teens to nearly 30% year-over-year
• Customer adoption of tools or platforms in the Snowflake Data Cloud that power AI & Machine Learning is up 15.5% YoY as marketers begin to explore the potential impact of large language models and generative AI on their work
• On Snowflake, we’ve seen the number of data clean room relationships increase up to 7x from April 4, 2022 to April 3, 2023 as privacy becomes a focus for marketers