Marketers need to analyze customer data quickly to survive, says Forrester
Marketers need to bump up their rate of data analysis and action based on that data in order to satisfy customers in an increasingly mobile society, according to Tony Costa, a senior analyst at Forrester Research.
"Ignoring value in the use of data to analyze and solve problems in real-time could be damaging to a business as customers are no longer willing to experience things on a schedule other than their own," Costa is quoted by Mobile Marketer as saying.
"The speed with which you can convert data into insight and that insight into action is now the defining characteristic of competition," he adds.
Consumers are not willing to wait around while marketers try to figure things out. As FierceMobileIT reports, they are quick to dump companies with slow or poorly performing apps.
The obvious challenges to fast data analysis include the massive amount of data collected in today's mobile world. The fix comes with proper data management and a data-driven design.
Costa encourages marketers to take a "more enlightened approach to data, put that information into the hands of every employee, and focus on small data actionability and not big data promise."
The final word comes from Costa on how to handle big data in a fast-paced market. "Don't fall prey to the tyranny of numbers. When I talk about data-driven design, I am not talking about abdicating your responsibilities as professionals to the information ... the data doesn't tell you what to do, it only informs your decisions."
Basically, hurry up and sift through all that data to satisfy your customers, but don't get overwhelmed; they're just numbers. Easy, right?
- read the Mobile Marketer article
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