Technology has improved in exponential ways over the last few years, and the current time is very high for the marketers. But, all this advancement comes with its own set of challenges which needs to be faced as paying the price for using the advanced technology. Most of the marketers believed that job these days have become more successful than it was few years ago and this specifically applies to the areas which are harvesting the power of the big data for business related benefits.
Some point ago in time points like gathering, mining and manipulation of data were all considered optional but now has become the key and the core skills for all every marketing team. The organizations are pressing so much on data that data has become the major reason of the pain in the job as marketer.
• Common challenges
Below are mentioned some of the most common challenges a marketer has to face related to data and they are:
o Understanding the contribution of different activities.
o Turning the data into knowledge (insights)
o Automation in the marketing segment and lots more.
It is not hard to understand that struggling with the multiple data sources and understanding the value of different marketing channels is tough and will always be a challenge for the marketers. Another hindrance that data brings is to extract the actionable information from the data. Turning the data into insights is also a very challenging task for the marketers and then turning those insights into actionable information is another challenge.
This suggests that while the marketers are flooded with the options when it comes to collecting the data, they are actually struggling to create the meaning from it.
• Painful challenges
Apart from the most common challenges there are challenges which are the most painful as well when it all comes to the data. Some of these challenges are listed below:
o Moving the data between the system.
o Gaining the customer view (single).
o Personalization and others.
If you will look at the points carefully you will see that the pain is concentrated in the region when it comes to making the sense of such sheer volume of data which companies are collecting on daily basis.
• Coping with the volume
Varying from the CRM systems to the web analytics, to the social media and third party tools it is very easy for the companies to collect such huge amount of data. As a result many marketers are left with far more data that they can handle or can make sense of.
The effective way to deal with such large amount of data is to define first what you are trying to get from it. This simple deduction will make your job easier when it comes to dealing with complex data sources, however, the job at the core level will be maintained by the technology and technology vary from one business to another based upon their individual requirements. A clear strategy in synchronization with the business objectives and supported by the right technology will lead to better data management, insights and personalization.