57% of marketers feel that they are missing important data points that could provide them with a more comprehensive view of their customer, while another 30% believe that’s possible but they’re not sure what they’re missing, per results from a new CMO Council survey. The findings align with separate results showing that almost half also of marketers feel that the deluge of data – both structured and unstructured – has highlighted the importance of identifying actionable insights.
The recognition that key insights are being missed also supports recent findings showing that marketers are struggling to develop a holistic view of their customers. For example, a recent report from Acxiom and Loyalty 360 found marketers challenged in leveraging data for loyalty purposes. Earlier survey results indicate that close to half of marketers are having trouble identifying their most loyal customers.
Almost half of respondents to the CMO Council survey believe that data has added complexity to developing customer profiles and intelligence. But data presents opportunities as well as challenges: a leading 52% of respondents said that big data has helped them identify new business opportunities, while 44% feel that big data has added visibility and accountability across all functions who engage and touch the customer. Read the rest at MarketingCharts.