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The road to successful marketing analytics starts with MART: Measurable, accessible, reliable and timely data. Not all marketing data is created equal and having data alone doesn’t make it a strategic marketing asset. In my last post, I discussed the importance of understanding the difference between the concepts of “better-informed” and “better” marketing decisions.
If we have the data we need, why is it that it can’t lead to better business decisions? I was often asked this question in the business intelligence (BI) course I taught for a doctorate program—especially by those candidates with a marketing or finance background. The concept of “better-informed” decisions is distinctly different than the concept of “better” decisions in business.
In my previous post, I discussed the vital role that data plays in marketing. In this post, I want to expand on why more data doesn’t necessarily guarantee insight or better-informed marketing decisions. Just capturing and storing data will not get us far. Disconnected and fragmented data can’t paint a complete picture of the 360-degree customer profile or the end-to-end custo ...