Advancing Analytics

How Insight Fuels the Marketing Engine

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Overview
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Research
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Overview

Marketers today are challenged with how to effectively aggregate data sources that must collect both structured and unstructured data, in addition to identifying those streams of data that are actually critical to improving engagements and experiences with customers. And while there is no shortage of data, the key is to have a view into those points of intelligence that can most impact each step of the customer experience.

According to our recently released “State of Marketing 2012”report, 43 percent of senior marketers plan on enhancing their existing marketing teams with new talent to manage marketing data and customer analytics. Marketers are also advancing their personal understanding of customer intelligence and marketing analytics as a key route to furthering their leadership and professional development. “Advancing Analytics: How Insight Fuels the Marketing Engine” illustrates in greater detail the steps that marketers are taking to gain maximum value from this critical source of customer information.

Research: Reports

Whitepaper

Jun 25, 2013

Advancing Analytics

In this white paper, the CMO Council addresses the new era of customer-driven engagements and how marketing must look to customer intelligence to engage customers in a relevant, meaningful way. ... More

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Facts & Stats

39% say their own company’s data is collected too infrequently or not real-time enough. DataAlchemy

21% are using financial metrics for "little" or "none" of their marketing budget. Print in the Mix

The global market for business intelligence (BI) software and services will reach $143 billion within four years, according to new analyst research. Information Age

According to IBM's Smarter Analytics forum, “7 out of every 10 CEOs are making significant investments in their organizations' ability to draw meaningful customer insights from available data”. PC Quest

While most companies are able to target their high-value customers (a more longstanding goal), 28% still do not know which high-value customers to focus their marketing on. BRITE/NYAMA

The global market for business intelligence (BI) software and services will reach $143 billion within four years, according to new analyst research. Information Age

On average only 11% of the decisions marketers make when it comes to consumers is based on data. Forbes

Of the $57 billion, $30 billion) comes from business intelligence services, a further $10.5 billion from BI platforms/analytics and $10.5 billion from data warehousing. Enterprise Apps Today

Two in five marketers (39%) admit that they cannot turn their data into actionable insight. DataAlchemy

Marketers today are still much less likely to collect new forms of digital data like customer mobile device data (19% collect it), and social media data (35% collect it), than they are to collect traditional customer survey data on demographics (74%) and usage (60%). Print in the Mix

Over 50% of the marketers surveyed said they rely on past experienced and/or their intuition to make decisions. Forbes

Among those surveyed, lack of time and resources is the biggest obstacle to measuring marketing (40%), followed by inadequate tools to track leads through the sales cycle (29%). MarketingProfs

Spending on marketing analytics is expected to increase 60% by 2015. DataAlchemy

58% of respondents said they lacked the skills and technology to perform analytics on marketing data, and more than 70% said they aren't able to leverage the value of customer data. SmartData Collective

7% are spending most or their entire marketing budget with "no metrics" at all. Print in the Mix

While 75% of CMOs use customer analytics to mine data, only 26% are tracking blogs, only 42% are tracking third-party reviews and only 48% are tracking consumer reviews. DataAlchemy

According to Unica's State of Marketing in 2011 report, 57% of marketers cited "measurement, analysis, and learning" as the biggest bottleneck they face within their organizations. HubSpot

\While the BI market was worth $57 billion at the end of 2010, it will surge to $81 billion by 2014 and as high as $136 billion by 2020. Enterprise Apps Today

The CMO Survey found companies expect to increase the marketing analytics portion of their marketing budgets by 60% from 5.7% to 9.1% in the next three years. Forbes

31% of respondents said that they believe simply measuring the audience you have reached is "marketing ROI". Print in the Mix

According to market research firm IDC, the business analytics market is set to grow to $50.7 billion by 2016. PC Quest

According to Gartner, the business intelligence market (including data warehouses and CRM analytics) is growing nine percent per year. Enterprise Apps Today

36% report that they have “lots of customer data,” but “don’t know what to do with it.” DataAlchemy

51% say that a lack of sharing customer data within their own organization is a barrier to effectively measuring their marketing ROI. Eleventy Marketing Group

While 51% of marketers said they market using mobile ads (in-app, or text messaging) and 85% have social network accounts (brand accounts on Facebook, Twitter, Google+, and Foursquare), only 14% are tying social network ads to financial metrics, and only 17% of those using mobile ads are tying them to financial metrics. By contrast, 41% of email marketers measure their results with financial metrics. Print in the Mix

More than 70% of CMOs feel they are underprepared to manage the explosion of data and “lack true insight.” DataAlchemy

Nearly half (45%) are not using data to personalize their marketing communications. BRITE/NYAMA

While the BI market was worth $57 billion at the end of 2010, it will surge to $81 billion by 2014 and as high as $136 billion by 2020. Enterprise Apps Today

Gartner analyst Rita Sallam estimates that today about 30 percent of users deal with analytics, but said that number will rise to about 50 percent by 2014 and 75 percent by 2020. Enterprise Apps Today

64% report that they do not have enough employees who have the skill set to track and analyze marketing data. TrendSlide

The global market for business intelligence (BI) software services will roughly double over the next four years, from $76 billion in 2012 to $143 billion in 2016, according to new research from market watcher Pringle & Company. Information Age

Some 75% of enterprise decision makers polled in a recent survey believe that leveraging data will help their companies dramatically improve their business, yet more than half feel they currently lack the tools to mine true customer insights from the data generated by digital and offline efforts. SmartData Collective

57% are not basing their marketing budgets on any ROI analysis. Print in the Mix

Fully eight in ten (80%) say they are spending more time and resources on critical marketing metrics in 2012, according to a survey from Pardot. MarketingProfs

More than 350 “enterprise decision makers” in management, marketing, communications, digital, IT and social media were surveyed, and 75 percent of them said that data will help them improve their businesses. TechCrunch

91% of senior corporate marketers believe that successful brands use customer data to drive marketing decisions. DataAlchemy

42% of marketers report that they are not able to link data at the level of an individual customer. BRITE/NYAMA

The researchers found that marketers' desire to be data-driven is not yet matched by a consistent effort to collect the data necessary to make these real-time decisions -- 29% report that their marketing departments have "too little or no customer/consumer data." Print in the Mix

Forrester study found that 59% of interactive marketers surveyed wanted a “better system for measuring and analyzing the performance of programs that encompass multiple channels. DataAlchemy

28% are basing marketing budgets on gut instincts. Print in the Mix

In a list of what they rely on to make decisions, marketers listed data dead last after engaging with their co-workers, seeking expert advice and data last on their list. Forbes