Marketers rely on data to initiate campaigns and target new and existing customers. However, although many companies operate with an attitude of “the more data, the better,” many marketers simply don’t know how to leverage the data they’re collecting.
Nearly three-quarters (73%) of all data within an enterprise goes unused for analytics, according to Forrester. Not knowing the best way to read, understand, and apply marketing data has a negative impact on a businessâfrom lost revenue opportunities to lower efficiency and productivity and poor customer experiences.
Simply adding platforms is not the answer, however; that just adds to the data volume, leaving marketers unable to synthesize their data effectively.
Instead, consolidatingâusing fewer technology solutions that nevertheless incorporate all customer purchase and engagement informationâallows marketers to draw accurate conclusions and develop data-driven campaigns.
This article will illustrate the obstacles that come with a platform-heavy marketing tech stack, including the effects of inevitable data disparities.