With such a flood of data in this day and age marketing teams can be drowned with the amount of information causing missed opportunities or leading to ineffective or poor business decisions. Mark Twain said it best “Data is like garbage. You’d better know what you are going to do with it before you collect it.”
Customer and Marketing data can have a value equal to garbage unless it’s used correctly. It should be cleaned through proper data hygiene and unified across the myriad of data silos and formats. From there you need to know what you are going to do with it and be able to ask the right questions or make the best queries.
Working with the right solutions partner or having the right tools in place will then allow you to analyze, profile, & model the data to be translated into insights and recommendations.
Those insights can tell you who buys what, how much they buy, the best time they buy, the best channel to reach them in order for them to buy, as well as how to retain them as buyers just to name a few.
Not only will those key customer insights show you who your best customers are but also allow you to allocate your marketing spend to increase return on investment and stay ahead of your competition.
No one really says “hey, that’s some great looking data” but bad data is worse than no data. So like Mark Twain said, you better know what you are going to do with it before you collect it. Otherwise, it’s as good as garbage.