In many ways, data cannot be transformed into actions without people – and giving those people the tools and knowledge, they need to make smart decisions takes a deliberate, sustained effort. CMOs in North America clearly see this as a top priority; 58% identify talent issues as a major barrier to achieving their data goals – the same level assigned to a lack of budget. Chief marketers in the region also say that “upskilling” employees is by far the top action contributing to their successes with data, besting the global score by 7 points (55% in North America versus 48% worldwide).
At the same time, “data marketing skills” do not rank among even the top 10 priorities that CMOs in the region plan to take on in the next 12 months; a host of other investments – from predictive analytics to data integration – rank higher. North America’s top marketers may feel that training is something that someone else should take care of, while they focus on tools and data; but without the CMO’s attention, this priority will languish, and their organizations will soon find themselves in catch-up mode.
What is holding marketing back from realizing its full data potential?
NA CMOs
“We live in age when many brands and CMOs still struggle with making information valuable – turning data into compelling stories and, ultimately, decisions, For CMOs to access and then leverage all of their available data requires high levels of cooperation and communication, within the organization and also with key strategic partners. One essential ingredient – often overlooked – is transparency; without clarity and trust, even a wealth of dashboards, analysts and syndicated data sources may not lead to stronger messaging and increased sales ROI. When everyone is working from the same information and the same goals, then we see data leading to success with remarkable consistency.”
Lydia Irving, VP, North America Sales & Commercial Strategy Development at GfK.