Our 2016 Measurement and Analytics survey is in the field and you can take part yourself to receive a free copy of the ensuing report.
Last year, the survey found that fully two-thirds of client respondents have no formally documented analytics strategy.
These marketers are no doubt still attempting to optimise their marketing spend in an ad hoc fashion, so what needs to change?
Does cross-business strategy require sponsorship?
Some of the most insightful comment in last year’s report, published in association with Lynchpin, was found in the answers to open-ended questions.
When asked ‘What do you see as the next step in the evolution of analytics for your org / clients?’, the following quotes stood out:
1. Moving towards a mentality where data analysis is the first step towards building strategy, rather than one of the middle steps.
2. Creating a robust strategy that marries up to KPIs and budget / targets and implementing a single point of reference across the business.
In an effort to greater understand how organisations are setting these cross-business strategies, this year’s survey will tackle the importance of analytics to digital transformation programmes and executive sponsorship of analytics.
Investment in teams and tech must signal improvement
The 2015 survey found that 50% of businesses were planning to grow their analytics teams over the next 12 months.
If this investment has occurred as planned, one might expect strategy to be more evident, backed as it will be by more staff.
24% of respondents were also considering a big data technology solution in 2015, with 11% already having one in place.
Once again, this investment may have gone hand in hand with a new analytics strategy.
Though fewer organisations said they were planning to increase their technology and consulting budgets in 2015 than 2014, it’s clear that structures are still changing, with big organisations moving from small siloed teams to business-wide functions employing more analysts.
If you’d like to receive a free copy of the 2016 report, why not take part in the survey?