As more marketers turn to analytics to gain insights into their customer base, the “2016 State of Analytics” report from Amplitude is shedding light on the growing investment in data. According to the report, approximately 86 percent of respondents stated that they consider analytics “extremely important” in driving business decisions.
When leveraging analytics tools to come to a decision, 60 percent use two or more tools at the same time. About 90 percent claim that they utilize out-of-the-box tools, while just 1 percent said that they only use in-house tools.
Seventy-three percent of respondents said they would like to learn how to increase engagement or retention through the use of their analytics resources.
About 53 percent want to know what applications their users are utilizing, and 50 percent desire insight into which applications their competitors are leveraging.
From the Amplitude blog, “We’re already seeing a rise in the number of people who are using sophisticated behavioral solutions over basic tools like Google Analytics. In 2016, there will be a big push toward finding accessible, sophisticated tools that will help cultivate a company-wide, data-driven culture.”
The Integration of Analytics Tools
Although marketers are using an increasing number of analytics tools, research shows that there is plenty of integration left to be done. Data from Forrester Consulting recently indicated that just 26 percent of marketers’ analytics tools are well-integrated and work seamlessly together.
However, the data also indicated that there are benefits to utilizing analytics tools. Marketers who use at least five tools said that they were 39 percent more likely to see an improvement in the performance of their marketing strategy. About 87 percent of sophisticated marketers stated that they were able to demonstrate the value of their marketing analytics tools to their organization.