Big data: what multinational clients think
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Transcript of Big data: what multinational clients think
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DATA IS A STRATEGIC IMPERATIVE
The same percentage also found it difficult to find business analysts and data scientists good enough to produce truly actionable insights.
Despite these vital benefits, however, almost three quarters – 74% – also agreed they were currently unprepared to take advantage of the opportunities it presented.
It’s critical to have clarity of purpose on what they need the data to achieve for them in the first instance
improve understanding of ROI (70% cited this as a primary reason)
gain a deeper understanding of customers (64%)
enable relevant, timely, precision marketing (47%).
BUT IT’S NOT WITHOUT ITS CHALLENGES
EARLY DAYS FOR MANY
KEY CONSIDERATIONS
Ignore the ‘big data’ hype. It’s often best to start small
It’s not the tools which are critical in the first place – it’s about finding the talent: marketers with the right analytical skill sets in the first instance
The survey was carried out in partnership with The Customer Framework in Q2 2013.
SMART
BIG DATA
New research from the WFA, and The Customer Framework, highlights the challenges and opportunities facing some of the world’s biggest marketers in taking advantage of the actual and perceived benefits of big data. The results were based on responses from 47 members representing $35bn of global marketing spend.
74%
IS DRIVEN BY THE RIGHT PEOPLE WITH FOCUS.
70%
64%
47%
49%
‘Big data’ is a term which many WFA members find to be unhelpful. Yet the vast majority feel this is an area of critical importance - which can be delivered against by marketers with the right skill sets.
The survey found that many struggled to cope with the huge volume of data being generated, which was cited as a significant problem for 54%.
Additionally they also said it was a challenge to deploy insights practically across the business (49% said this was a significant problem)
49%54%
Respondents felt that the primary benefits of leveraging big data were to:
THE BIG OPPORTUNITIES IN BIG DATA
agree that it will be vital in 3 Years’ time
93%agreed that it was vital for current and future business decision-making.
88%