Marketing Analytics: Now that marketers can collect data, interpretation is the top challenge
Technology is fantastic. But, it’s not magic.
Marketing analytics can be extremely powerful. However, just like any other tool or technology, it takes hard (and smart) work to turn data into knowledge.
So, in the MarketingSherpa 2013 Marketing Analytics Benchmark Report (sponsored by Paramore), we asked marketers …
Q: What were your organization’s most frustrating challenges with marketing analytics in 2012?
Then, we asked your peers what they thought about this marketing research. Here’s what they had to say …
Interpretation of data
What is interesting is that the top two challenges are related to the interpretation of data, not the collection of data.
We have finally turned the corner on the basic blocking and tackling of data consolidation through technology and processes, and now the most important challenges are focused on how to effectively use the analytics for improved decision making.
It has taken a long time to get to this point, but it is encouraging to see that 42% of respondents stated that acting on data to improve marketing performance was their #1 challenge, followed by combining data from multiple sources to draw correlations and make predictions (41%).
Integrating systems and siloed data finally has fallen to the bottom as most marketers have the technology and tools to do this process. Now we have to do the hard part and make the data talk to us, guide us, and give us insights.
– Cyndi Greenglass, Senior Vice President, Strategic Solutions, Diamond Marketing Solutions
