The Digits: Companies Want Solid Analytics, Just Not Right Now
According to research recently released from Ventana Research, companies clearly see improving analytics as a way to elevate revenue. They also value improvement in sales-related analytics as a method to direct the sales pipeline and forecasting process as well as a way to measure sales department efficacy. However while 60% want to make sales analytics more accessible and easy-to-use, only 24 percent are planning to actually alter the way they generate and apply analytics in the next 12 to 18 months. The reasons for this, according to Ventana, are budget concerns, lack of a solid IT infrastructure, and digital agencies which are not “in the loop” of corporate operations, unable to penetrate the psychological barriers to new technology adaptation.
Other findings include;
40 percent want to be able to rent analytics tools as software as a service
29 percent want to access the metrics easily via mobile devices.
30 percent of organizations studied still use spreadsheets universally for analytics
55 percent of these organizations are unhappy with their analytics processes.
Unhappy companies mean opportunities for digital agencies to step in with user-friendly, effective analytic systems. Brands have a slew of choices in marketing platforms, yet the most critical functions that any platform will facilitate need to be tailored to the specific needs of each company. That requires a strong understanding of the importance of data and how it translates as strategy on the part of marketers and their clients.
“In most cases the marketing organization has not invested into analytics, and that failure has impacted its efficiency and contribution to the organization,” stated Mark Smith, CEO and EVP of Research at Ventana Research “Just tabulating numbers in spreadsheets and presenting the results is not sufficient, since it does not provide the needed support for effective competition and revenue generation.”
-
Publishers speak out on the state of the media business at the Digiday Publishing Summit
With the calendar flipping to spring, do publishers feel like the economic conditions are starting to thaw or do they expect the second quarter to be similarly frigid?
-
How Forbes and The Daily Beast are consolidating diverse revenue streams to create the highest value audience
Forbes and The Daily Beast have shed the silo-model when it comes to how their revenue teams operate.
-
How BuzzFeed’s Creator Score is grading the impact of its creator network
BuzzFeed's Creator Network is a primary focus in 2023 for the publisher, and its campaign grading tool is being used to prove out its ability to create successful ads.
-
SponsoredHow critical data pillars will increase brands’ confidence in CTV
Mario Diez, CEO, Peer39 With every quarter, the balance of TV viewership slips away from the traditional linear model and more towards connected TV. Less than half of the adults in the U.S. subscribe to cable or satellite, and fewer than half of the households watched linear TV daily in the second half of 2022. […]
-
In graphic detail: Google’s Ads Safety Report shows suspect ad activities are on the rise
Google's ad transparency efforts detail how bad actors necessitate further investment.
-
Media Briefing: Publishers share their biggest challenges and opportunities at the Digiday Publishing Summit
While Q1 ad revenue, sales cycles and payment windows appeared to be equally bad across the media industry, bright spots arose around consumer revenue streams, new tech experimentation and traffic patterns.
