As data and analytics become more readily available to marketers, new research suggests that they are using it for multiple purposes.
According to the “Data Benchmark Study” from Freeman revealed that 98 percent of marketers now use data to secure their budget. In addition, 89 percent of marketers utilize data and analytics to make strategic decisions, while 76 percent use it for their corporate database/CRM efforts.
“The powerful impact of data is seen in the finding that 67% of top companies that have previously invested in data and measurement maintain a separate budget for this area; and are increasing their spend for marketing data, measurement and analytics,” wrote the authors of the report. “The additional third of the industry expects to maintain their investment level going forward.”
Real-Time Data in the Hands of Marketers
As marketers continue to invest in data and analytics, previous research indicates that real-time information is becoming a more critical component.
SAS, Intel, and Accenture teamed up with the Harvard Business Review to publish the “Real-Time Analytics: The Key to Unlocking Customer Insights and Driving the Customer Experience” report. The data indicated that 60 percent of marketers already believe that they it’s “extremely important” to have the ability to produce real-time customer interactions across touchpoints and devices today.
Over the next two years, 79 percent said they envision it being “extremely important,” and 16 percent of respondents who deliver real-time customer interactions across their touchpoints said they are “very effective.”