Data and insights must be used to improve existing strategies

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 31, 2019, 3:39 AM UTC

Companies could look for information that adds dimensions and clarity to their present strategies.

Typically, decision makers across an organisation may not necessarily have access to the same data sources or even interpret the data from those sources in the same way. This leads to them having differing understanding of a category, key trends and consumer target. Such behaviour cannot support strategic business planning.

This piece notes that when working with data from various sources, companies should focus on overcoming biases from individual data sources. This can be done by blending various data sources in the best possible manner.

The article highlights that by just summarising data as part of an annual planning process, insights teams fail in creating a focus. Going beyond this, businesses must look for information that adds dimensions and clarity to existing strategies.  

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[4 minute read]