Marketers often rely on intuition rather than data when making decisions. While companies receive enormous amounts of data daily, most still focus on intuitions over data-driven insights. Additionally, many marketers lack the appropriate statistical knowledge to effectively use data. For decisions to improve, marketers must embrace high-quality, data-driven decision making and ensure business goals are clear and data is used extensively, rather than past experiences or one-off customer interactions, to account for the constantly changing business environment.
6. Many still rely on their gut, along
with that of experts. By
conversing with managers and
interacting with customers one-
off, decisions are made
intuitively.
7. Since the business scenario is
changing every second, the
assumptions change
continuously too. Hence, the
past experiences cannot always
help.
8. On being tested, it was revealed
that the marketers lack the
appropriate knowledge of
statistics. This renders them
helpless as far as data is
concerned.
9. Ironically, there are some organizational
members who can’t get enough of data
and end up messing with data on the
cliché dashboards they use by recording
irrelevant response based metrics.
Consequently, they lose sight of their final
goal.
10. Data comes with a lot of noise
with it, which is mostly
undesirable. Since data is
evolving tremendously, the noise
will intensify and so will the need
to eradicate it. So, filtering out
noise is very essential.
11. From a manager’s point of view, the main task
must be to ensure that the business goal is
crystal clear in the heads of the members
working towards achieving them. The other task
involves encouraging extensive use of data in
decision making and rectifying the mistakes
done in the past.
