More than 7 in 10 executives believe that their reliance on data analytics for decision-making will either increase significantly (24%) or somewhat (47%) over the next 3 years, according to a report from Forbes Insights and Turn. Currently, data-driven marketing is credited by the largest share of respondents with creating competitive advantages in customer loyalty (47%), gaining new customers (43%) and customer satisfaction (42%). The most common changes within marketing campaigns triggered by data analytics are changed targeting strategies (38%), extending or repeating a campaign (36%) and altering a campaign (34%). For data-driven marketing “leaders” – 61% of whom note a measurable increase in ROI from data-driven campaigns – the biggest change triggered by data analytics is extending or repeating a campaign.

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Intermediate/ Excerpt...

One of the top takeaways: “Marketers recognize the importance of data, but aren’t widely using it to make informed decisions.” Here are the supporting facts and figures:

• 76% of marketers agree they need to be more data-focused to succeed
• 49% of marketers report “trusting my gut” to guide decisions on where to invest their marketing budgets
• 72% of marketers agree that long-term success is tied to proving marketing return on investment

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