Become Data Intelligent
Our ability to now easily collect, access, analyze, and assess data from customers to campaigns is creating a new imperative for marketers: figure out how you’re leveraging data or you’re going to get left behind. But if you don’t have it all figured out yet, don’t worry you’re not alone. In a 2016 IBM study, only 3% of marketers rated their ability to act on insights from customer data as ‘excellent’, with more than half (54%) labeled it either ‘poor’ or ‘very poor’. The problem today isn’t our ability to capture the data or to do some level of analytics and reporting on the information we collect, the challenge is our ability to clarify actionable decisions that need to be made based on what we learn.
To generate and share insights is what will make the next generation of marketers stand out. In a study conducted by recruitment company Hayes of 300 UK marketing managers and executives, analytical ability is in demand among marketers, with 27% citing this as the most essential core skill. In this CIO article, Michelle Huff, CMO at Act-On frames it perfectly, “As a marketer, we must learn how to tell a story or build a profile with the data we collect from our campaigns. It is our job to convert data into intelligence that drives the customer experience forward,” she says. When it comes to getting intelligent about data, they key will be knowing what data points matter, what you should be looking for and evaluating as part of your data analysis, and what action should be taken based on the findings. If you don’t get very clear on your goals, the massive amounts of data available to you and possibilities for analysis can easily become overwhelming.
Gone are the days of subjecting thinking and opinions, letting the data tell the story will help you make the best decisions moving forward. What is the old adage? “Data doesn’t lie.”