We collect a lot of data.
We know that there is business value in data.
If we know all of this why is it that marketers are finding it so hard to truly use analytics?
There are many reasons and a recent study by eConsultancy and Lynchpin (repackaged by eMarketer) gave some of them. The first relates to the sheer volume and data and finding how much is actually useful to marketers.
Over 50% of the respondents said that only 50% of the data collected is useful to their business. So why is it being collected? Good question. One way that marketers can make their lives easier is to collect only the pertinent data rather than collecting everything under the sun and thus creating an opportunity to miss valuable in formation in the clutter.
The next finding is interesting as well. Nearly 50% of those spoken too either did not have a business intelligence strategy OR didn’t integrate web analytics with larger business intelligence efforts at all. Again we have to ask, ‘Why is it being collected then?”
These questions are tough ones for marketers. It could be that many marketers are not statisticians or are not as mathematically inclined as today’s data driven world demands. These are skills that can be acquired but getting someone to take the time and effort to learn is a different matter.
So what does the marketing industry as a whole need to do? It needs to align the geeks with the creatives. Creatives get nervous around piles of numbers that are supposed to prove something. Creatives are about messaging and the psychological aspects of the marketing game. It’s almost like the void that exists between engineers and sales people where you need a sales engineer to bridge the gap. Do we need to develop marketing engineers as go betweens?
Anything is better than seeing these statistics which show that the collecting of data far outpaces the application of data. This kind of activity will be the thing that slows progress in the Internet space.
What do you suggest we do about it?