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
- Results of Analysis Are Not Actionable
- Analysing Data Takes Too Long
- Data Findings Conflict with Intended Course of Action
- Analysis Does Not Incorporate Different Sources of Data
- Analysis Does Not Account for Business Context
- Poor Data Quality
- Lack of Access to Sales or Conversion Data
- Analysis Does Not Present a Clear Recommendation
- Decisions Are Driven by Our Trading/Promotional Calendar
- 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 for more on how Anaylin is working with clients to managing and analysing data so they can make informed decisions. Also, Neal will be able to tell you what the top 3 reasons are.
Here is a clue, the 3rd most popular reason was ‘Analysis Does Not Present a Clear Recommendation‘
* Gartner Marketing Data and Analytics Survey 2020