Claravine Newsletter: March 15, 2017
Take a look here, to see what we’re reading and talking about. Some of the headlines:
—Big data won’t drive creativity, Big Insights will
True data insight can guide better customer communications. Having a clear picture of what your audience looks like, what interests them and how they engage, will ensure that the right message is provided for them. A common problem is that marketers aren’t sure where to begin. This article makes the case that teams should take lessons from Behavioral Economics and break the challenge into bite-sized chunks. Brand Quarterly (4/20/16)
—Brands to spend $92B on big data by 2026 — can they turn data to insights?
Despite gains in data delivery, only 29% of companies express confidence in their ability to “connect analytics to action,” according to Forrester Research. More data isn’t always better; streamlining what you measure and focusing on your customers’ moments of decision-making can help. After they identify the decisions their stakeholders make, companies will need to identify metrics that might predict behavior. This is the definition of data science, and is critical for success. American Marketing Assocation (1/1/2017)
—Marketers to spend on analytics, use remains elusive
Spending on marketing analytics is expected to rise from 4.6% of marketing budgets to 22% over the next three years, yet according to a CMO survey from the American Marketing Association, barely a third of available data are used to drive company decisions. Marketers cited a number of factors for this disconnect, the biggest one being a lack of necessary processes and tools to measure success through analytics. Forbes (2/28/17)
—How to spot visualization lies
The use of statistics to mislead is an old problem, but one that appears to be on the rise. In this post, author Nathan Yau offers several tips for discerning trustworthy visual data, and provides guidelines for producing graphs and charts that will earn your audience’s trust. Flowing Data (2/9/17)
Headline Links
—Google develops cloud-based measurement service for advertisers AdWeek (1/20/17)
—Anonymous Web browsing isn’t as anonymous as you think Marketing Land (2/1/17)
—How bad data can blindside your marketing analytics AdWeek (2/21/17)
Newsletter Archive:
January 2017
November 2016
September 2016