The poll of senior marketers across Europe and North America by Outlier and Incisiv looks at how leading brands use data for business.
While companies have access to huge amounts of data, 70% are startled by changes in consumer behaviour, buying process, and preferences. 81% of marketers made important changes to digital marketing strategies in the last year.
However, 50% don't regularly use data to inform changes to digital marketing strategies frequently. Further, nearly 65% of marketers are disappointed with the pace of consumer data analysis. Businesses (76%) aren't able to make the best use of data from website traffic, digital ad space, paid search, sales, and more.
Uncovering trends or inconsistencies in data is a challenge for 67% of respondents. Mike Stone, CMO, Outlier, believes that data-driven decisions require new approaches “that can handle the high volume of analysis.”
[2 minute read]