Data strategy piles on the pressure

Business people on computersNearly four-fifths of all marketers feel under pressure to become more data-driven, yet just under half believe customer information is the most underused asset in their marketing arsenal.
That is just one of the stark findings of a new report by Teradata Applications, which probed more than 2,200 marketers at companies with $100m (£64m) or more in revenue.
One reason for this disconnect is the recurring issue of the relationship between IT and marketing, most recently highlighted by Accenture, which claimed old animosities are preventing businesses from fully exploiting the latest marketing techniques.
In the Teradata study, some 74% of those questioned still do not think marketing and IT are strategic partners, with only 32% owning or controlling most customer data.
Rather worringly, only a third (33%) believe they work in a true data-driven marketing culture, with 42% of marketers actually identifying a lack of process as a primary obstacle to using data in decision-making.
Declaring “process is the new black”, the report states: “Historically, marketers have been wary of implementing processes for fear of ruining the creative atmosphere.”
Like many recent studies it claims one answer is the rise of the so-called data scientist. It research found that 21% to 38% of marketing departments, depending on their size, already have data scientists on their teams. But, within two years, those numbers are expected to swell to 51% to 62%.
“Departments with data scientists get higher marks from their employees,” states the report. “While the average department grade from individuals is in the C or lower range, departments with data scientists are awarded an A.”
A recent Silverpop survey carried out by Forrester came to a similar conclusion, claiming behavioural data still remains “the greatest untapped marketing asset”.

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