Marketers invest sizable resources in analytics, but many aren’t getting the payoff they expect. The Gartner Marketing Data & Analytics 2020 survey shows that analytics influences only 54% of marketing decisions. The top reasons for this are poor data quality, results that are not actionable and unclear recommendations.
And yet, marketing executives see huge potential for analytics. Eighty-five percent of those surveyed said that by 2022, “significantly more” of their organization’s marketing decisions will be based on marketing analytics.
But to extract more value from analytics, marketing leaders must focus on building skills that address the reasons analytics are seen as underperforming — and concentrating on value-adding analytics activities outside those that are or soon will be automated.
“It’s critical to invest more time and resources in upskilling your analytics team to have a broader influence over bottom-line results and adapt to new trends in automation,” says Lizzy Foo Kune, Senior Director Analyst, Gartner.