Sales and marketing analytics is integral to the ability of companies to thrive in today’s markets. In an EIU survey of 448 senior U.S. executives conducted for this study, 70% of respondents say sales and marketing analytics is already “very” or “extremely important” to their own business’s competitive advantage. In just two years, 89% of respondents expect this to be the case.
The impact of these efforts, though, remains modest. Only 12% of respondents say those involved in their businesses’ general analytics efforts can stay abreast of emerging industry innovations. More telling, just 2% believe transformations in capabilities at their companies have had a “broad, positive impact.” It is clear that this remains a work in progress.
Broken links: Why analytics investments have yet to pay off, sponsored by ZS, draws on the survey findings, interviews with senior corporate executives and desk research to explore the current state of sales and marketing analytics.
Key findings include:
- Many companies are putting significant resources into sales and marketing analytics, but their analytics capability for the most part is immature.
- Companies have progressed on the technology side of analytics, but processes should be embedded more closely into the fabric of the business.
- Companies that benchmark themselves highest on profitability and customer engagement also see extensive collaboration between executives and analytics professionals.
- Decisions on analytics platforms should be strategic rather than focused on cost over value.
