Does the Marketing Data Itself Have a Value in 2023

Marketing is a broad field that includes many different divisions. Companies spend millions of dollars studying their customers and creating new products. But is the data itself really that useful? Most likely no. Data is gigabytes of disparate information from different channels.

They give answers only after analysis and visualization. You can, for example, send Meta Ads to BigQuery. There, you can get useful insights for your enterprise. 

What is the value of the analyzed data? 

In 2023, marketing is very different from what it was 10 or even 5 years ago. Technologies are developing, and global economic events do not allow entrepreneurs to calm down. In such an unstable environment, it becomes increasingly difficult to understand your customers, which means that there is a great risk of making wrong management decisions and failing with new products.

To keep your company profitable, you need to take the data you receive from Facebook, Google, and other channels seriously. The analyzed information can help you in the following areas:

• Human behavior is not static. It is necessary to constantly study the basic behavioral patterns and experience of using various goods and services. The data provide comprehensive information for this.

• Making long-term decisions. The strategy should be based on certain facts that can be obtained from big data.

• Building good relationships with clients. If you learn to find patterns, you will be able to understand the values of your customers, which, for sure, will bring you big tangible and intangible dividends.

• Competition. Today it is almost impossible to hide what you are doing. Your innovations are likely to be copied. However, if you comprehend data better than your competitors, you can work faster and more efficiently. 

What to do? 

The marketing department requires investment but can bring a lot of profit. Surely, you have points of contact with customers that bring you gigabytes of useful information. The information itself is not very valuable, but if you connect modern machine learning algorithms, AI, and various methods of working with data, you can be one step ahead of the competition and succeed in business.

Windsor.ai lets you connect all your marketing, CRM and analytics data to from 70+ platforms and stream it to any spreadsheet tool, BI platform or your data warehouse. Sign up for free!