A recent WFA survey involving 47 members representing $35bn in global marketing spend highlights the challenges and opportunities in leveraging big data for marketers. While 88% of respondents recognize the critical importance of big data for decision-making, 74% feel unprepared to exploit its benefits, mainly due to difficulties in managing large data volumes and finding qualified analysts. Key recommendations include having a clear purpose for data use, avoiding hype, and prioritizing talent over tools.

1. SMAR T
BIG DATA
IS DRIVEN BY THE RIGHT PEOPLE WITH FOCUS.
New research from the WFA, and The Customer Framework, highlights the challenges
and opportunities facing some of the world’s biggest marketers in taking advantage of
the actual and perceived benefits of big data. The results were based on responses
from 47 members representing $35bn of global marketing spend.
DATA IS A STRATEGIC IMPERATIVE
‘Big data’ is a term which many
WFA members find to be
unhelpful. Yet the vast majority
feel this is an area of critical
importance - which can be
delivered against by marketers
with the right skill sets.
88%
93%
agreed that it was vital for
current and future business
decision-making.
agree that it
will be vital in
3 Years’ time
BUT IT’S NOT WITHOUT ITS CHALLENGES
54 %
49%
The survey found that
many struggled to
cope with the huge
volume of data being
generated, which was
cited as a significant
problem for 54%.
49%
Additionally they
also said it was a
challenge to deploy
insights practically
across the business
(49% said this was a
significant problem)
The same percentage
also found it difficult to
find business analysts
and data scientists
good enough to
produce truly
actionable insights.
THE BIG OPPORTUNITIES IN BIG DATA
Respondents felt that the primary benefits of leveraging big data were to:
improve understanding
of ROI (70% cited this
as a primary reason)
gain a deeper
understanding of
customers (64%)
enable relevant,
timely, precision
marketing (47%).
70 %
64%
47%
74 %
EARLY DAYS FOR MANY
Despite these vital benefits, however,
almost three quarters – 74% – also agreed
they were currently unprepared to take
advantage of the opportunities it
presented.
KEY CONSIDERATIONS
1
It’s critical to have clarity of purpose on what they need the data to
achieve for them in the first instance
2
Ignore the ‘big data’ hype. It’s often best to start small
3
It’s not the tools which are critical in the first place – it’s about finding the
talent: marketers with the right analytical skill sets in the first instance
The survey was carried out in partnership
with The Customer Framework in Q2 2013.