Email marketers who are flummoxed by an inability to get data are not alone, judging by Data And Analytics Trends and Directions 2021, a study by ibi, a data and analytics software company owned by TIBCO.
A single version of the truth is elusive for 41% of companies, the study shows And 38% complain that users are not trained to use the tools.
Moreover, 35% of firms are challenged by lack of budget and 35% by a dearth of resources or skills.
But the situation may improve because 44% of firms plan to spend more on data initiatives, although 38% will stay at their current levels.
COVID-19 has altered data their priorities. These now include:
But email specialists may be disappointed to note that marketing is near the bottom of the list of uses that support businesses. They use data and analytics to:
But marketing may figure into some of the future priorities:
What keeps leadership up at night? For 72%, it’s data security, and for the same percentage, it's data quality.
Where do companies think they stand?
Of those polled, 52% think they are equal to their peers, while 26% are just getting started and 22% ahead of the game.
At the same time, 53% are committed to putting data into the hands of users, while 49% are told from the top that data is important and 37% believe decision-making should be data driven.
The study shows that “cloud migration -- already a top priority for organizations -- is gaining momentum,” states Dennis McLaughlin, vice president, product management at ibi.
McLaughlin concludes: “We believe this reflects the need to deliver on the data needs of employees working from anywhere.”
Ibi, a TIBCO company, surveyed 150 data and analytics leaders in 12 industries.