Marketing departments overestimate their analytical skills
Sirkin Research conducted a survey on behalf of Adverity, interviewing nearly 1,000 marketers and data analysts from the US, UK and Germany. The survey covered topics ranging from companies’ current capabilities, key challenges and strategic priorities in leveraging marketing data, to analytical maturity.
According to this, the majority of respondents still rely on traditional methods when it comes to marketing data and its analysis. 68 percent rely on manual spreadsheets for reporting, with almost half of the companies stating that they do not trust the accuracy of their marketing data. Three-fourths feel they don’t yet have a unified view of actual marketing performance. This is in stark contrast to the fact that two-thirds believe their company has good analytical skills. At the same time, 61 percent of the companies surveyed see the development of proactive analyzes as one of the most important strategic goals for 2022.
“While the confidence that marketing departments have in their analytical abilities is commendable, the fact that so many companies are still struggling with the basics speaks a different language,” commented Harriet Durnford-Smith, Adverity’s CMO. “The truth is, without a unified view of all marketing data and the use of manual data processing in spreadsheets, implementing technologies like predictive analytics remains a pipe dream.”