More than a third (35%) of marketers claim to have more data on their customers than they could ever effectively analyse.
A tenth of marketers (11%) also felt their large data collection added no value when trying to understand its customer base, leading to one in four marketers to rely on gut instinct when assessing customer actions.
The findings come from research by Qualtrics who surveyed 260 UK marketers.
Ian McVey, head of enterprise for Northern Europe at Qualtrics, said: “It’s clear that marketers have more information on their customers than they know what to do with.
“While all of this data could prove useful in the right context, many marketers simply don’t know how to pull out the insights or identify the trends that will truly benefit their marketing approach. They have lots of data but not necessarily the right data.”
McVey went on to criticise analytics platforms that churn out dashboards of data without providing real meaning or context. “These tools are great for filling up vast databases but they don’t provide the intelligence needed to take this data to the next level and to create real insights,” McVey explained.
Despite the overload of data some marketers are experiencing, the report also pointed to marketers wanting more varied data. Some 86% of marketers are currently collecting operational data but 86% said they needed more than just operational data in order to improve CX.
The report suggested experience data was the answer to this.
