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Archive for Data Analysis

30 Sep

When are two heads better than one?…

Less than 40% of CMOs wish to increase their financial acumen and digital know-how.

As data digital marketing specialists here at Anaylin, we were initially rather surprised to read this particular result in Gartner’s 2021 Report “5 Strategic Priorities for CMOs”. 

Why did the Chief Marketing Officers taking part say they were not looking to sharpen their skills in such business-critical areas as financial acumen and digital know-how?

After giving it some thought, we’ve come up with two possible explanations as to why this may not be as surprising as it at first seemed.

The first: based on a predictable reaction when asked if we need to get better at what we do every day. We naturally believe we have already developed the skills we need to a high degree, and don’t feel comfortable about admitting there’s room for improvement, even in an anonymous survey!

The second: explanation concerns our own role here at Anaylin, as a knowledge-based, integrated ‘Digital and Data Boutique’, providing outsourced marketing data management services to CMOs and their departments. We like to think that the CMOs who don’t feel they need to increase their ‘digital know-how’ would include our Anaylin clients. They rely upon us to stay up-to-date with current trends and developments in our field on their behalf, bringing our cutting-edge industry knowledge of marketing insights and analytics to the table to share with them and their teams.

The survey recommends that CMOs conduct honest self-assessments of their own personal skill set and strengthen any areas of weakness in support of digital business initiatives.

Our clients choose to achieve better results by partnering with Anaylin, because they know that two heads are better than one!

To join them, and stay ahead of the game, contact Neal Muranyi

CRM Data Management Data Analysis Data Management Marketing
05 May
CMOs Share their Top Ten reasons for side-lining Data Analysis

CMOs Share Their Top 10 Reasons for Side-lining Data Analysis, what would be your top 3?

 

A recent Survey* asked CMOs for reasons they might choose not to use Analytics to inform key business decisions. Can you guess the top 3 reasons given from this shortlist of the ten most common responses:

In no particular order

  1. Results of Analysis Are Not Actionable
  2. Analysing Data Takes Too Long
  3. Data Findings Conflict with Intended Course of Action
  4. Analysis Does Not Incorporate Different Sources of Data
  5. Analysis Does Not Account for Business Context
  6. Poor Data Quality
  7. Lack of Access to Sales or Conversion Data
  8. Analysis Does Not Present a Clear Recommendation
  9. Decisions Are Driven by Our Trading/Promotional Calendar
  10. Analysis Is Too Difficult to Understand

In these uniquely testing times, every CMO has been called upon to revise their data management strategy to deal with unforeseen obstacles and delays. Significantly though, investment in marketing analytics shows no signs of slowing down, despite the challenges involved.

IN FACT, to meet the demands of greater automation and personalisation, 73% of CMOs said they plan to increase their investment in data sourcing, integration and management, and advanced analytics during the next financial year.

Do any of the above reasons given strike a chord with you?  And how far are they likely to impact your own strategy going forward?

We would love to hear your informed judgement and perceptions around the importance of data analytics and have a chance to share with you how, by drawing on Anaylin’s experience and resources, you could make them work better to support your marketing activities in the year ahead.

Email Neal Muranyi for more on how Anaylin is working with clients to managing and analysing data so they can make informed decisions

 

 

 

* Gartner Marketing Data and Analytics Survey

CRM Data Management Data Analysis Data Management Marketing