Actionable Insights From Data Analytics, 2008-2017 [CHART]
While the use of digital analytics is increasingly important to organizations, relatively few organizations have a strategy in place for analytics or measure the ROI from their analytics investments, according to a report from Econsultancy and Lynchpin. Moreover, there’s been little change over the years in the extent to which companies are deriving actionable insights from their analytics data.
Indeed, company respondents to the research – which surveyed more than 900 marketers and supply-siders, primarily in the UK and Europe – reported that just 39% of analytics data is useful for driving decision-making.
That’s the lowest point in at least 10 years, though the proportion of usable analytics data has generally sat not much higher, in the 42-45% range.
In fact, just 30% of company marketers surveyed said that the majority of the analytics data they collect is useful for decision-making.
The results bring to mind results from The CMO Survey, in which CMOs in the US said that fewer than one-third of projects used analytics prior to a decision. This is troubling as the most important objective of data-driven marketing is to make more decisions based on data analysis. Read the rest at MarketingCharts.com.