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In a digital world, executives worldwide have the opportunity to leverage more relevant insights to make the right call. According to Q2 2016 research, most are using data to drive decision-making. But there are still improvements to be made.
Oxford Economics and SAP surveyed more than 2,050 executives, including C-level and their direct reports, in 21 countries across various industries about their digital transformation.
Most respondents said their business decisions could usually be mapped to company strategies (55%); the same share said decisions were normally driven by data. Not far behind, 46% of executives surveyed said their organization can adapt to judgments in real time.
It may seem promising that majorities of respondents said their decision-making was strategic rather than scattershot, as well as being data-driven rather than subjective, but substantial shares of companies still aren’t using data and strategy to guide them. And more than half of respondents did not believe decisions at their organizations were transparent to the people affected by them.
According to August research from the Direct Marketing Association (DMA), Interactive Advertising Bureau (IAB) and Winterberry Group, half of marketing and media executives in North America believe predictive analytics is among the technologies that will help them most to achieve value from data. Not far behind were cross-channel measurement and attribution, cited by 40.6%, and campaign measurement tools that allowed for segmentation and audience selection (34.8%).
Earlier research US marketing professionals expected to spend more on data-driven marketing activities in Q3 of this year vs. Q2, as well as to generate more revenues from such activities.
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