Examine Finds Almost 70 P.c of Firms are Blindsided by Modifications of their Enterprise, Regardless of Entry to Knowledge that Might Assist
After a yr of unprecedented change, research uncovers frequent blind spots
in addition to analytic approaches to assist tackle them
OAKLAND, Calif., Sept. 13, 2021 (GLOBE NEWSWIRE) — Outlier, the main automated enterprise evaluation (ABA) platform, right this moment launched findings from its joint research with Incisiv titled Navigating Blind Spots: The State of Digital Marketing which explores how main manufacturers collect, assess and leverage knowledge for enterprise advertising and marketing and commerce efforts. The report presents helpful insights on vital adjustments in advertising and marketing approaches over the previous tumultuous yr, in addition to widespread advertising and marketing blind spots and methods to keep away from them.
In response to the brand new research, 70% of corporations—regardless of entry to massive volumes of enterprise knowledge— proceed to be stunned by adjustments in buyer conduct, buy processes and preferences that their knowledge might assist them uncover. A stunning 50% of respondents indicated they aren’t often utilizing knowledge to tell adjustments to their digital advertising and marketing technique, though 81% of entrepreneurs made vital adjustments to their digital technique over the previous yr. The analysis additionally revealed that just about 65% of entrepreneurs are dissatisfied with the pace of buyer knowledge evaluation.
“Our research confirms that whereas entrepreneurs are awash in massive volumes of buyer and marketing campaign knowledge, that knowledge isn’t translating into well timed and helpful insights,” mentioned Mike Stone, CMO of Outlier. “Given the tempo of change it’s extra vital than ever to be really data-driven in on a regular basis selections, and that requires new approaches that may deal with the excessive quantity of study that’s required.”
The report contains detailed details about the forms of knowledge entrepreneurs depend on most to make correct selections, in addition to the information sources that almost all usually include stunning developments. Key takeaways from the research embody:
- Greater than three quarters (76%) of corporations are unable to leverage web site site visitors, digital promoting, paid search, social media engagement, and gross sales knowledge to their full potential.
- 56% of entrepreneurs made substantial adjustments to their digital advertising and marketing methods in 2020, however 67% can’t spot tendencies or anomalies of their knowledge to information correct actions or funding.
- 46% of those that use knowledge often nonetheless can’t uncover helpful or related tendencies, and 71% are unable to constantly uncover well timed alternatives for development from buyer knowledge.
The research was carried out between June and July 2021 throughout North America and Europe, reaching greater than 200 senior digital advertising and marketing executives at corporations with annual revenues of $100M to $1B+ USD. Individuals had been evenly divided throughout retail and finance industries.
About Outlier AI
Outlier.ai, primarily based in Oakland, California, helps entrepreneurs, knowledge analysts and provide chain operators throughout client, monetary providers, retail and different industries determine surprising adjustments inside vital enterprise knowledge. The Outlier automated enterprise evaluation platform uncovers surprising patterns and relationships utilizing superior AI and machine studying algorithms and communicates them in a easy, collaborative format that accelerates enterprise motion and decision-making. With its library of information connectors, organizations can combine Outlier with current knowledge sources inside minutes, permitting leaders to assemble enterprise insights rapidly, determine potential alternatives and tackle the surprising.
A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/e47dea52-5842-44a8-a272-0f4c6596bd1b
State of Buyer Analytics