The context of the title is that of marketing.
Media-rich analytics combined with internal data, major surveys, other external data could lead to marketing data paralysis.
A prognosis to avoid that condition is to use analytics platforms that bridge the divide between IT CMO, CPO and and line of business management.
A combination of
- Big data platform for structured and unstructured data and an
- Analytics platform suitable for:-
- Information consumers ( managed by IT) and (supervised by but arms length from IT):-
- Information creators
- Information analysts
Data democratisation for marketing without data paralysis
Meanwhile, Victoria Godfrey, CMO at Avention, told Marketing Dive that data paralysis can be a real issue facing marketers. “Marketers recognize the value of data-driven insights,” she said. “But when faced with the number, diversity and sheer amount of data sources – plus uncertainty about how to translate data into business benefits – they often succumb to data paralysis." She described data paralysis as knowing you need to do something, but are too overwhelmed by the scope of the project to do anything. In terms of how to approach marketing data, Godfrey said it’s key to ensure that data is accurate and clean. That way business decisions are being supported by the most current and accurate data available. She added marketers should also be augmenting their first-party data on customers and prospects with external data sources.
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