Saturday Stat Series: Obstacles to Adopting Analytics
Welcome to this week’s Tuesday Teaser, where we give you a just a taste of wisdom from the DMA 2013 Statistical Fact Book.
Good data-driven marketing relies not only on raw data, but on great analytics that can slice, dice, and julienne that data into delicious understandable statistics. Marketing analysts are the geniuses of this operation—but they often are not consulted as much or as well as they could be. What’s the deal when companies face barriers to adopting marketing analytics? The graph below lists some examples:
The most significant barrier to marketing analytics adoption was “integrating multiple data sources,” a problem that arises when a company can’t keep track of all the data it has, or lacks the infrastructure or processing capability to handle it. Poor infrastructure can be a huge barrier to companies’ efforts to utilize data. Another big issue was “understanding how marketing analytics could be used,” which was tied with “finding the right talent with knowledge of marketing analytics.”
Many businesses face this issue—that’s why DMA offers a number of great in-person and online courses designed to bring marketers up to speed on data and analytics. We also organize the annual Analytics Challenge, a competition which encourages marketing analysts to solve a real-world problem for an organization (this year, the Cleveland Clinic).
What are some of the biggest barriers you’ve faced when trying to adopt good marketing analytics? How did you overcome those barriers (if you found a way)? Share your stories in the comments!
Feel free to share your thoughts, experiences, and perspectives with us in the comments section below!