Eager to capitalize on insights that can only be discovered through big data analytics, nearly 70 percent of marketers said they planned to spend more on data in 2013, according to a survey by Yesmail Interactive and Infogroup. More than half of polled individuals said they wanted to make better use of real-time data in their upcoming campaigns through these new strategies.
However, many big data adopters are still not leveraging their data in a way that measurably boosts conversion rates. In an article for Harvard Business Review, Patrick Spenner and Anna Bird of the Corporate Executive Board (CEB) explained that most marketers continue to rely primarily on their intuition rather than fact-drive insights. In fact, they only resort to data for around 10 percent of their decisions, the source adds.
Part of the problem is that the time it takes for companies to get on board with new trends can often decrease any competitive advantage they might have gained, reports Forbes. Another issue is that marketing teams may not be certain about the best method for extracting insights from the information they've gathered.
One of the first steps toward better insights and ultimately, marketing conversions, is to make sure databases contain all the right facts, according to eConsultancy. Strong data quality can tell a story about customers that will help marketers make better decisions.