In today's marketing culture, organizations need to have access to real-time information to develop targeted advertisements capable of attracting a specific niche of individuals. This approach will allow businesses to increase their customer base and revenue, giving them an advantage over rival firms still using traditional marketing techniques.
Unfortunately, the analytics market has not grown as fast as the information it needs to evaluate, according to a Fourth Source report. This has inherently introduced data quality issues, making it more difficult for marketers and other decision-makers to launch effective advertising and promotional strategies.
Fourth Source said this lopsided development has made it so the traditional attribution model, which characterized different individuals based on last click, first click and other metrics, is no longer as effective as it used to be. This is largely because the static models do not provide a clear picture of what is really happening with the relationship between consumer and company.
Forbes recently highlighted the demand for marketing decision-makers to embrace big data strategies to develop more relevant and effective ads. If businesses fail to take these initiatives seriously, they will have trouble creating advertising campaigns that provide any real results.