Big Data Can Help Marketers Unlock Up To $200 Billion
Big data isn't just a buzz word - it's a proven way to improve the bottom line.
Good marketing analytics can make all the difference for effective campaigns and company growth, according to data from McKinsey on Marketing and Sales, a branch of global management and consulting firm McKinsey. Using these metrics well can increase a company's return on investment (ROI) by 10% to 20%, or as much as $200 billion globally.
According to McKinsey's statistics, big data leaders have, on average, 5% higher productivity and 6% higher profits than other companies.
Despite the strong evidence that big data can bolster success and profitability, McKinsey notes that many companies still struggle to measure the impact of digital marketing on sales and profits. This is a crucial hurdle to overcome, as CEOs might hesitate to give marketers additional funding without knowing how much business the money will generate.
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