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According to a new study on data-driven marketing by Teradata Applications (the artists formerly known as Aprimo), 45% of marketers believe that data is the most underutilized asset in the marketing organization.
Condensed...
The research, conducted with more than 2,200 marketers at companies with $100 million or more in revenue, revealed a number of other stats on the data challenges that marketing departments are facing:
- Less than 10% use the data they currently have in a systematic, strategic way
- Only 33% believe they work in a true data-driven marketing culture
- Only 32% own/control most customer data — the rest rely on accessing data from IT or external vendors
- That’s a bottleneck because 74% still don’t think marketing and IT are strategic partners
- Yet 42% of marketers actually identify lack of process as a primary obstacle to using data in decision-making
But for all the data challenges that marketing now faces, a new champion is galloping to the field: the marketing data scientist.
Just as marketing technologists raise the tech-savvy of marketing as a whole, data scientists deliver a similar lift. Teradata asked participants to grade how good their department is at doing data-driven marketing. “Departments with data scientists get higher marks from their employees,” states the report. “While the average department grade from individuals is in the C or lower range, departments with data scientists are awarded A’s.”
Having data is one thing. Finding insights and activating against them is another.
I've worked with a research company, so understand the value of GOOD QUALITY DATA. I also realise how damaging poor quality data can be to a brand.