Data is Money – Don’t Waste it - Fourth Source | The CYDigital Blog |
Without the right strategy or technology, you simply won’t be able to analyse all the data available to you. Much of it will go to waste, creating a pool of “data exhaust”. Remarkably, studies show that most companies are hoarding swimming pools of discarded data. A report by Forrester concluded that businesses do not analyse between 60 and 70 percent of the data they possess, while an unrelated 2018 survey of digital marketers found that 28% of respondents had no idea there was such a high level of waste. To bring these facts home, consider that in 2019, marketers are expected to spend $19.2BN on additional third-party audience data (plus the technology that manages, processes and analyses that data). Therefore, the amount marketers spend on third-party data and tech infrastructure increases by 17.5% year-over-year.