Marketers Flunk the Big Data Test.
- 4. 1.) Most rely too much on guts and Past Experiences. On average, marketers depend on data for just 11 percent of all customer-related decisions.
- 5. 2.) A majority struggle with Statistics. When Spenner and Bird tested marketers' statistical aptitude with five questions ranging from basic to intermediate, "almost half (44%) got four or more questions wrong and a mere 6% got all five right."
- 6. 3.) Some are dangerously distracted by data "While most marketers underuse data, a small fraction (11% in this study) just can't get enough," The problem is, they don't have the statistical aptitude or judgment required to use data effectively. Every time they see a blip on the dashboard, they adjust -- and end up changing direction so often that they lose sight of end goals.
- 8. Key Qualities Managers Must Have. 1.) Comfort with Ambiguity 2.) ability to ask strategic questions based on data. 3.) narrow focus on higher-order goals.
- 9. • To fully harness creativity in today's marketing environment requires the use of objective data points to qualify any subjectivity. • Marketers that embrace data and/or data insights will be seen as leading customer advocates and 'in tune' with organisational needs.