Marketers are planning to boost spending on Big Data in 2013, hiring employees dedicated to analytics and building systems to keep up with the fire hose of information being generated by digital and social channels, according to report by Infogroup Targeting Solutions and Yesmail Interactive.
More than two-thirds (68%) of marketers surveyed say they plan to increase spending slightly (48%) or greatly (20%) on data-related marketing initiatives in 2013; only 3% expect data-related expenditures to fall.
Moreover, 56% of marketers say they are planning to add new employees to oversee their data efforts this year. Among those marketers, 20% plan to hire data analysts and 5% plan to hire executive-level staff to oversee Big Data initiatives.
Below, additional findings from the report titled "Data-Rich and Insight-Poor: Marketers Planning to Turn Information Into Intelligence in 2013," based on a survey of more than 700 marketers who attended the DMA2012 Annual Conference and Forrester Research eBusiness Forum in 2012.
Big Data is Digital
Data captured from digital channels are typically easier to collect, apply, and measure.
Not surprisingly, nearly one-half (49%) of marketers* cite their website as the best source of customer data, followed by email (19%) and social-media channels (12%). By contrast, traditional channels such as direct mail (8%), telemarketing (8%), and print (1%) have taken a back seat as critical sources of data.