Many organizations work with siloed data and lack the ability to translate this into future oriented decisions. As a result, many planning processes are broken and much marketing planning is done intuitively and in copy-paste fashion. Some organizations attempt to integrate market data sources, but fail to do so effectively.
Consequences of inaction
The symptoms of these kinds of organizations are a waste of resources and slow and inadequate decision making. Live studies prove that in these organizations marketing and sales departments spend between 30% and 70% on manual data crunching and analysis. Additionally, the impact on teams is frustration and high people turnover with the ultimate impact falling on the business generating lower revenue growth and profits.
Having one data platform that provides marketing insights saves enormous amounts of time, which can be used to focus on brand growth and revenue generating activities. Analysis modules deliver robust brand and industry insights faster than any other tool, in just a matter of seconds. Finally, your planning becomes a seamless process whereby you're able to create better scenarios and make those key decisions which impact your P&L positively.
Once the big data analytics platform is implemented you can directly access all insights, based on the newly harmonized and integrated data. You can create online dashboards as well as add new modules, such as predictive analytics, in order to understand the Return on Investment of your marketing and sales activities. You can further apply those insights in Sales & Operations Planning modules, which can be added to your portal. Ultimately, these foresights improve the quality of your decisions and will lead to much more control over the future performance of your business.