We’ve heard a lot of late about how data is the new oil. That’s largely because it is not only valuable, but the lifeblood of the economy. There’s another reason why the analogy is apt: like oil, data is often difficult to extract and expensive to refine.
Many companies are finding this out the hard way.
According to recent research we conducted, most marketers are caught in a conundrum. They realize that culling and synthesizing data is integral to taking a 360-degree single customer view. However, they also know that they’re over their heads when it comes to making sense of such data.