As we’ve detailed numerous times on our Alight Insights blog, there has been a massive increase in the volume of available and analyzable marketing data. Much of this has resulted from the proliferation of cloud-based platforms, which have made data not only more accessible but also more unwieldy.
Each source system has its own structures and processes for representing data, which are often wholly separate and fragmented from other marketing tools, leading to endless hours of manual data collection, cleanup, and connection. The process is leaving highly paid analysts to deal with low-level, menial labor well below their pay grade. It’s like asking an auto repair shop’s best mechanic to devote 80 percent of his work day to clean up the floor. While this might seem like a problem to be undertaken by CIOs, more often than not, the responsibilities fall upon CMOs, as they are tasked with demonstrating value and performance gains. And it’s leaving brand marketing departments stretched thin.
Yet, despite this massive headache, it is projected that 56 percent of brands will increase their investment in Big Data and marketing analytics over the next three years. The reason: the value discoverable within marketing data streams is far more profitable than the expense of leaving it untapped.
So, what does this mean for agencies? Well, it means that as brands uncover the torture of janitorial data munging — a pain we’ve labeled as the “Data Death March” — they’ll be looking for ways to reduce in-house (monetary and time) expenses associated with the problem. For savvy agencies, this leads to opportunity. Is your agency prepared to meet the demands of the 56 percent of brands stepping up their marketing data analysis efforts?
At Alight Analytics, we work with agencies daily to increase reporting infrastructures and capabilities. In fact, our product, ChannelMix, is designed to solve this “Data Death March.” ChannelMix works by connecting to any data source, monitoring the data for opportunities, securely storing it, blending it into a single and holistic reporting source, modifying it to ensure consistency, and allowing access from any reporting solution. It’s provided agencies the opportunity to increase their value proposition to forward thinking, data-centric brands, as well as speed up their own time to analysis.
Interested in learning more about ChannelMix and how we’re helping agencies across the country improve data analytics and reporting for their clients? Drop us a line. We’d be happy to talk.