June 1, 2018

4 Data Analytics Trends to Get Noticed by the C-Suite

BY Alexandre François

Big data, customer intelligence, or simply analytics… no matter the vantage point, data is a powertrain toward better decision-making, leaner operations, product optimization, and customer satisfaction.

The challenge with data, however, is that it’s abundant and coming from many sources — e.g., online and offline touchpoints, functions and departments, internal and external individuals. And leveraging it to execute and improve tasks and processes isn’t always straightforward.

In light of this, many data analytics platforms have emerged typically serving specific niches, but they often struggle to look convincing to potential buyers. One way to become more credible is to show your target customers that you’re familiar with the latest market trends.

Businesses recognize the potential of data and analytics

That’s good, isn’t it? Businesses and decision-makers already know that analytics is important to them. This means you can focus your content not on why they should leverage data but how your product can do it better than the mass — e.g., progressive profiling, geolocation, automation, targeted engagements, and data visualization.

  • 66% of supply chain leaders say advanced supply chain analytics are critically important (The Hackett Group)
  • 44,4% of organizations expect to be extremely data-centric by 2019 vs. 9.8% in 2017 (Winterberry Group)
  • Over 90% of Sales & Marketing teams perceive cloud business intelligence as essential for getting their work done in 2018 (Forbes)

Investments in analytics aren’t slowing down

Most organizations have already invested in data analytics, but they’re still willing to find better ways to leverage their data with more advanced software. You can use this trend in your favor, encouraging them not to fall behind.

  • Worldwide revenues for big data and business analytics is expected to reach $210 billion in 2020, from $150.8 billion in 2017 (IDC)
  • The global customer journey analytics market size is expected to grow from USD 4.76 billion in 2017 to USD 12.22 billion by 2022 (ReportsNReports)
  • Marketing analytics gets the greatest share, 9.2%, of overall marketing budget (Gartner)

Better data enables segmentation and personalization…

New business opportunities come alongside a better understanding of customers. Your target clients wouldn’t argue with that so try illustrating how your analytics platform can support them to segment their customers more effectively and uncover insights.

  • 94% of senior-level executives say that delivering personalization is critical or important to reaching customers (Forbes Insights & PwC)
  • Marketing campaigns without content relevancy have an 83% lower response rate (Monetate)
  • Personalized calls-to-action convert 42% better (HubSpot)

… leading to higher revenues and profits

In the end, it all boils down to the bottom line. How does understanding data result in better competitive performance? Perhaps your application is designed to flag and resolve inefficiencies, to identify new sales opportunities and boost revenues, or else. Try emphasizing how much money your clients can save or make.

  • The likelihood of achieving above-average profitability is almost 19 times higher for customer-analytics champions than it is for laggards (McKinsey)
  • Marketers who deliver personalized web experiences are getting double-digit returns in marketing performance and response (Forbes CMO practice)
  • Insights derived from algorithms and data can help businesses reduce churn by 25% (McKinsey)

 

Data is becoming organizations’ most valuable asset, making data analytics more important than ever.

Would you like to talk about how your data analytics venture can benefit from high-quality content? Contact us today.

 

Alexandre François

Chief Content Strategist, Polylead

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