“Big Data” is a buzz-phrase that is tempting marketers with the promise of increasing customer engagement. While big data is part of the solution, the real power lies in using the right data. Marketers want to deliver the right message to the right client at the right time. Although marketers rely on data to do their jobs well, the majority have trouble actually accessing the data that they need. This document discusses the data challenge that today’s marketers face and explores how service providers can help them embrace data to deliver a relevant message.

In today’s market, there is a dearth of information available on customers. Marketers have access to transactional, demographic, psychographic, and behavioral data. The challenge lies in determining the data points that really matter and learning how to apply that information to increase customer acquisition, loyalty, and ultimately return on investment. A November 2013 study by Domo surveyed marketers across a range of industries, including managers, directors, and senior-level marketing executives. The overriding message is that there is a growing disconnect between what marketers want and need from data and what they are actually getting. 

Technological advancements have spurred marketers' unprecedented access to volumes of customer data. Research indicates that the volume of digital information increases tenfold every five years. In the DOMO survey, 66% of marketers reported feeling overwhelmed by the volume of data they had to handle. The issue is not a lack of data—it is transforming the data that exists into actionable insight.