Are you overwhelmed by real-time data?

Research reveals Australian businesses believe brands should be more active in digital

A recent survey found Australian businesses are investing more in data-driven digital platforms, but majority are unable to integrate multi-data sources.

According to the TNS Marketing Monitor, 72 per cent of Australian businesses believe their brands should be more active on digital platforms. Yet 68 per cent are unable to integrate multiple data sources such as social media, blogs, website traffic and search data - leaving them unsure about what actions to take.

The survey, which monitored 2,700 marketing professionals across Asia Pacific, found the volume and variety of data is obscuring valuable insights and making it harder for businesses to use it to their advantage. With so much data available, marketers know they should be able to make decisions in real-time, but the survey showed many are struggling to integrate traditional and digital measurements.

Current market research methods are not helping marketers make quick and informed decisions, the research showed. Analysis is viewed as ‘not actionable enough’ (72 per cent) and ‘too slow’ (65 per cent) to be of use.

The survey also revealed because of the difficulties with real-time data, many marketers are falling back on traditional measurements. According to the report, sales uplift metrics are still used as the number one way of evaluating the success of marketing campaigns. Despite their importance, the report revealed these metrics are retrospective and do not empower businesses to track the ongoing reception of campaigns, react to live issues and make the changes that could nudge their marketing activity in a more favourable direction.

TNS Australia's managing director, Tania Kullmann, said many businesses are now overwhelmed by the volume of data.

“Despite the emphasis on ongoing social engagement and staying innovative, many marketers do not have the resources at their fingertips to leverage the data and build a fast-paced, real-time marketing function,” she said.

TNS Asia Pacific's managing director of brand and communications, Nitin Nishandar, said the difficulties in extracting valuable insight from data means that marketers have a rear-view mirror approach, only understanding their performance and brand equity weeks or even months afterwards.

"Real-time data needs to deliver real-time value -otherwise it’s just distracting noise,” Nishandar said. "As the pace of change accelerates across the region, we need to start using data to gaze into the future, not just measure the here and now. Tracking social and search data to form the basis of a predictive spine delivers insight months ahead of survey data or sales figures. This gives marketers the power to anticipate changes to brand equity in time to actually do something about it. In such a volatile environment, having a telescopic view into the future is an invaluable competitive advantage, and one that businesses can’t afford to overlook.”

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Data has the power to build or burn brands

A brand can be severely wounded by use or misuse of any of its assets and you could say data has the greatest power of all to inflict damage.

Lucy Acheson

Head of data strategy and customer experience, LIDA

Totto and your inorganic future

At Cannes Lions this year we’ve been treated to many artificial intelligence (AI) insights. It’s one of the major discourses of our time.

Richard Brett

CEO, opr

Personas of one and the rise of ‘always there’ marketing

I’ve got some bad news. The ‘always on’ marketing approach that many companies have only just fully implemented is already out of date.

Nigel Roberts

Founding partner and strategy lead, Yell

Promotion is difficult. You should be able to do it. Sometimes it turns out bad, and when you turn to professionals, it turns out well - ...

Jordan Samuil

Village Roadshow partners with Lion for pourage rights and promotional partnership

Read more

This is very good news for Australian SMEs as ActiveCampaign is an very powerful marketing automation / email marketing tool that costs a...

Lawrence

SMB marketing automation provider sets up Asia Pac HQ in Sydney

Read more

Thanks for the info! If you are looking for commercial real estate in Mumbai, visit us at Jagaha.com! We have over 20,000 verified proper...

Gizelle

Salesforce ups the Marketing Cloud ante with Datorama acquisition

Read more

Completely agree! For the best commercial properties in Mumbai, visit our website - Jagaha!

Gizelle

Salesforce ups the Marketing Cloud ante with Datorama acquisition

Read more

Carisoprodol is used for treatment of pain.so it has some amount of drug use it carefully . Get its complete usage and prescription from ...

jensons henry

CMO profile: The strategy behind Cash Converters brand and customer experience reboot

Read more

Latest Podcast

More podcasts

Sign in