"Big Data" Effect On Sales [CHART]

Okay, I’ve just got to say this: “Big Data” is about the STOOOPID-est catchphrase to come along in a while. And it’s had a lot of competition. A LOT.

Only half of sales executives are aware of big data, and just 16.5% of those say that their company has a big data strategy that impacts sales, per results from a Lattice Engines survey released in August 2012, conducted by CSO Insights. Despite this low take-up, among the half of respondents aware of big data, the vast majority (87.1%) believe that an effective big data strategy could result in at least a minor increase in sales effectiveness, including 22% who believe it could noticeably increase their sales effectiveness. Big data ought to have an increasing impact on sales effectiveness, particularly as sales executives become increasingly responsible for the company’s big data strategy. Among survey respondents who knew about big data, 84% said that the sales team was either an active participant (67%) or in the leading role (17%) in terms of corporate responsibility for the strategy. Senior corporate executives (56%), marketing (47%), and the CIO (43%), though, were most often cited for having a leading role.

Big data is indeed becoming a corporate priority for C-suite executives, according to May 2012 survey results from McKinsey. Roughly half say that big data and analytics is one of their top 10 priorities, including one-quarter who indicate it to be a top 3 priority, and 9% who say it is their top priority. Read the rest at MarketingCharts.