In a March survey of 50 CFOs in the US conducted by Viant, respondents indicated that they perceived their organization’s marketing efforts as cost centers. They were miffed that their marketing teams didn’t judge success based on concrete outcomes like sales.
Nearly four in 10 of the surveyed CFOs said one of their biggest concerns about the digital marketing at their organization is that they measure in vanity metrics. The CFOs concluded that many data points they’re presented with by marketers don’t really matter to their ultimate goals.
Demonstrating the return on investment for data science projects may require marketers to take a new approach to measurement. While change is hardly ever easy, it may be necessary for those wanting to pour more money into analytics.