When Google started deleting third-party cookies, marketers made several attempts to collect and use your data during processing. All online media networks make bold promises to marketers about their data and targeting skills. Analytics tools and software have become an important component of the marketing department. However, the new Gartner study questions whether these investments are paying off.
No matter how much analysis is made in the decision, the marketing department does not always turn a profit. Organizations agree that if analytics is used in less than 50% of decisions, they cannot prove the value of marketing. On the other hand, Gartner's results show that if an analysis affects more than 50% of decisions, the organization's feedback may decrease.
“Chief marketing executives often believe that achieving marketing data integration goals will increase the impact and value of marketing analytics,” said analyst Joseph Eniver, Gartner's Senior Director of Marketing Practices. .
The survey found that a third of respondents chose data that supported a decision or opinion made by the decision maker. Cognitive bias has been cited as one of the main barriers to effective marketing analysis.
Also, when providing information, it is not always used. 26% of respondents said that decision makers did not value the information provided to them, 24% of decision makers did not accept their advice, and 24% of decision makers said they used their “inner intuition” to make decisions.
According to the report, CMOs need to consider several things if their analysis is to be successful. First, they need to track decisions made through analytics to identify areas for improvement. So they should avoid picking cherries. It is also recommended that you lead by example and build a program that excels in analysis.