Half of marketers are enthusiastic about the role of Big Data in marketing, and another 31% are cautiously optimistic, according to a recent report from Infogroup Targeting Solutions.
The survey of 370 marketers who attended the DMA Annual Conference and Exhibition found 14% are uncertain about the role of Big Data, 3% are tepid regarding it, and just 1% are disillusioned.
However, whether an organization has already invested in Big Data has a significant impact on an individual marketer's outlook: Among those whose companies haven't yet taken the plunge, 22% are uncertain about Big Data’s role in the marketing industry and only 39% are enthusiastic.
Conversely, those who have already started investing in Big Data have few reservations: 60% are enthusiastic, 30% are cautiously optimistic, and only 8% are uncertain.
Below, additional key findings from the report.
Big Data Budgets
- 62% of marketers surveyed say their Big Data budget will increase in 2014.
- 67% of marketers who have already made Big Data investments expect to see increased budgets this year, compared with 57% of marketers who haven’t yet made investments.
- 66% of those already seeing ROI expect their budgets to increase in 2014, compared with 60% for those not seeing ROI yet.
Barriers to Implementation
- When asked about barriers in implementing Big Data, 35% of respondents blamed budget limitations for lack of success.
- A lack of quality data was the second most cited barrier (27% of respondents), followed by limited tools and technology (25%).
2014 vs. 2013
Some 73% of marketers surveyed say improving data analytics will be a top priority in 2014, compared with 38% who cited analysis as a top priority in 2013.
About the research: The report was based on data from a survey of 370 marketers at the 2013 Direct Marketing Association Annual Conference in Chicago. The survey was administered in-person, on tablet devices, October 14-17.
