Data is a real gold mine for marketers, but for such data to be truly brilliant “jewels” that carry a lot of value, it is vital to extract “insights.” The problem? That when it comes to extracting “insights” from data, a real garden of challenges ends up sprouting.
According to a recent study by Arm Treasure Data, the customer data platform , 47% of companies estimate that the most important challenge when it comes to extracting insights from marketing data is silos (those that make such data difficult to access).
A much smaller percentage of companies (20%) consider that the lack of internal know azerbaijan phone number how to extract valuable insights from data is the most significant challenge in the data universe today.
15% of companies also complain about not having enough data, and 12% complain about having too much data at their disposal .
Problems do not only arise when accessing data, but also when processing that data . 54% of companies believe that the main barrier to managing the data in their possession is that it is too fragmented. Another 20% admit that they do not understand the data (the content stored in it) and 17% admit that they do not really have the capacity to make decisions based on the trends detected in the data.
On the other hand, 16% of companies say that the “customer journey” (the time elapsed between the first interaction with the consumer and the purchase) lasts an average of one month. 20% estimate that the “customer journey” lasts between 4 and 8 months and another 20% estimate that it lasts more than 9 months.
However, most companies (23%) admit that they do not know exactly how long their