Brands need to be able to distil data that will drive results.
The lack of an integrated approach to data makes it hard to deal with market uncertainties. Marketers are facing three fundamental challenges in building a unified source of data: a lack of a unified view of marketing investments, a lack of real-time insights and a lack of cooperation among team and stakeholders.
Brands need to do away with data silos to get a transparent and holistic view of various metrics, including campaign effectiveness and engagement levels. To analyse data properly, data sets should be sorted into three categories - campaign objectives, channel implementation and outcomes.
Excluding over-lapping of data and consequently applying data modelling can help businesses effectively use data. Companies should further ensure transparency in their team communication to make sure each member is working towards the same goal.
[5 minute read]