It’s no secret that there is widespread belief among marketers across the globe that gathering, integrating and analyzing all available enterprise data, and then applying real-time insights to that analysis drives a better customer experience, and thus stronger brand differentiation and faster growth. So it is surprising that a new study of thousands of marketers found that nearly 50% agreed that data is the most underutilized asset in their organization.
Even more striking is that less than 10% said they currently use what data they have in a systematic way, the survey from Teradata Applications found.
But that may soon change as 71% of the 2,200 marketers around the world that were surveyed said they plan to implement a big data analytics solution in the next two years. Just 18% reported having a single, integrated view of customer actions, yet it is one of marketers’ top priorities for future improvement.
Silos are a big roadblock with nearly 65% agreeing that silos within their marketing department prevent them from having a holistic view of a campaign across channels even though 42% of marketing executives said that integrating the cross-channel customer experience is a top priority.
System integration has shown to make calculating ROI difficult and fraught with problems 75% of the marketers said.
“Acting on more informed insights yields better customer engagement, but it all starts with vision, a strategic process, and having the right talent in place,’ said Darryl McDonald, president of Teradata Applications, said.