Marketing analytics are being used in less projects, their quality is being evaluated by fewer companies, and their contribution to companies’ performance is declining, finds Duke University’s Fuqua School of Business in its latest CMO Survey [PDF]. The February installment of the survey, its 9th, found that only 40% of CMOs surveyed say their company formally evaluates the quality of marketing analytics, down from 47% 6 months earlier.
Additionally, the average percentage of projects that use marketing analytics has dropped to 30%, from 3%% in August 2012 and 37% in February 2012. Whether by cause or effect, CMOs are also reporting a slight drop in the contribution of analytics to their companies’ performance. On a 7-point scale (with 7 being “very highly” and 1 “not at all”), CMOs gave analytics’ contribution a mean rating of 3.7, down from 3.9 in the previous installment of the survey. Read the rest at MarketingCharts.