Tag Archives: data management

Drowning in data

The modern technology, and especially digital technology like e-mail, websites, mobile and social media, are a blessing for marketers. Not ever before were they able to gather so much data on what they do. But, this also comes with a danger. The flood of data is large, marketers are awash in data. Marketing analytics is the way to take control over this flood. In the 2013 Marketing Analytics Benchmark Report by MarketingSherpa the importance of marketing analytics is addressed.

Over 1.100 marketers are surveyed for this research. It provides insight into analytics for all kinds of marketing channels.

According to Marketingssherpa the surveyed marketers provided some interesting insights, and also highlighted areas where marketers could improve in taking advantage of this valuable marketing asset.

The availability of marketing analytics data is promising with 79% reporting having average, significant and even vast amounts of client interaction data to analyze. Only 3% reported having no analytics data at all. An overwhelming majority — 97% — of marketers have some amount of marketing analytics data to work with.

Read More…

Does Your Company Have a Chief Marketing Technologist? Do You Need One?

For the past four years or so, a small but growing number of marketing thought leaders have contended that companies need a senior-level marketing executive to oversee the selection, implementation, and management of marketing technologies. The title most often used for this position is chief marketing technologist.

One of the leading proponents of this strategy is Scott Brinker, the president and CTO of ion interactive . Brinker also writes the Chief Marketing Technologist blog.

Brinker argues that marketing has become deeply entwined with technology, that there are now thousands of software applications available to marketers which touch almost every aspect of the marketing function. For this reason, Brinker contends that marketing should no longer rely on the IT department for all its technology needs. Instead, marketing must take ownership of its technology platforms and strategies. Read More…

VEM and ITSMA Provide Marketing Data, Analytics, and Metrics Benchmarking Opportunity

Marketers who have come to be perceived as value generators for their organization have learned how to use data, analytics, processes and metrics to move business results and demonstrate their contribution. The problem is that many marketers are tracking metrics that are easy and convenient but have little or nothing to do with the organization’s performance. The real challenge for a good number of marketers is to develop and use metrics that drive results.

ITSMA and VisionEdge Marketing have teamed up in an Marketing Performance Mangement survey (open until July 27th) to give marketers the opportunity to gain insight in their use of marketing data, metrics, and analytics to inform marketing decisions, predict buyer behavior, improve marketing performance, and forecast trends.  Read More…

Brand Owners Rely on Hard Data, Not Instinct

Brand owners are increasingly relying on hard data rather than instinct or experience to make strategic decisions, a poll of executives has shown. Of the 600 senior managers surveyed by Capgemini, a consultancy, for the report, two-thirds said they believed they worked for a ‘data-driven’ company. A similar total (65%) said the proportion of corporate decisions taken on the basis of ‘hard analytic information’ was rising.

By contrast, a clear majority (54%) said that decisions taken due to a manager’s personal intuition or prior experience were ‘suspect’. The strong support for data also came despite almost half (42%) of respondents agreeing that data analysis made decision-making slower, and 67% expressing concern about the accuracy of the data they used as a basis for their decisions. Just over half (51%) also complained about the lack of qualified data analysts available to corporations.

According to an earlier report by Gartner,

Business executives and IT managers are increasingly referring to information as one of their organization’s most critical and strategic corporate assets. Certainly there is a sharp rise in enterprises leveraging information as a performance fuel, competitive weaponry and a relationship adhesive.’ Read More…

Big Data Promises Marketers Big Insights

The amount of data being generated is expanding at rapid logarithmic rates. Every day, customers and consumers are creating quintillions of bytes of data due to the growing number of customer contact channels. Some sources suggest that 90% of the world’s customer data has been created and stored since 2010. The vast majority of this data is unstructured data.

It is not surpring, then, that study after study shows that the majority of marketers struggle with mining and analyzing this data in order to derive valuable insights and actionable intelligence. A recent report by EMC found that only 38% of business intelligence analysts and data scientists strongly agree that their company uses data to learn more about customers. As marketers we need to learn how to leverage and optimize this flood of data and incorporate it into customer models we can use to predict what customers want. Read More…

WARC Conference: Online and Digital Research

Over the last decade online research has grown exponentially. With consumers worldwide empowered by the Social Web and the increasing adoption of mobile devices, there is now more pressure than ever on researchers to stay flexible, keep up with the rapid pace of change and be fast adopters of new innovations. Read More…

The One Business Partnership You Need to Start Building Now

Successful digital marketing requires a combination of different skill sets. For example, it needs time-honored CMO know-how blended together with innovative, hi-tech computer programming expertise. And now that this kind of cross-functional partnership is such a high priority, I need to ask you one thing:

When was the last time you had lunch with the CIO? Read More…