Unstructured data looms as a bigger problem in this Forrester research for customer comment collector Reputation. They found that 70% of digital marketing and CX decision-makers believe unstructured data is important in meeting CX goals, but 42% struggle to make sense of customer feedback. Fun fact: respondents collect feedback from an average of six touchpoints and store it in 5.5 tools.
What’s the biggest data-related headache? This Databricks-sponsored MIT Technology Review survey of chief data officers found that half are looking for a new data management platform, with greater scalability and processing speed as their top goals. Access and quality were lower priorities: in fact, 66% said their analysts can already access all the data they need. Adding new types such as real-time streams and unstructured data was their smallest concern.
Or maybe the biggest problem really is data sharing after all. Planning system vendor Digital.ai als found that 99% of companies agree it’s important to share business planning data but 34% do it poorly. They win the prize for conflicting answers: 95% of respondents said digital transformation is going well but 91% said they need to get more from their DT initiatives and 54% said DT problems have hurt their company’s bottom line.
Media mix models (MMM), originally developed in the 1960’s, have undergone a resurgence as new technologies make them easier to execute and click-based attribution becomes less credible. But evaluating MMM brings its own challenges. Australia-based Mutinex offers a vendor-neutral Open Source MMM Validation Framework which is now available for free to North American marketers and agencies.