Data has officially surpassed oil as the world’s most valuable resource. But, not all customer data was created equal — 42% of marketers still consider 3rd party data effective, new regulations under GDPR, and deprecations by players like Google have made the use of this data risky business.
Many have overlooked their first-party data (which is incredibly valuable and within regulation). In fact, most marketers are only tapping into 47% or less of their 1st party data, which is due in part to legacy tech that can’t keep up with the speed at which brands accumulate customer data. 61% of marketers storing data across systems believe their organization doesn’t have the technology needed to best execute campaigns using customer data.
While your vast amounts of data can seem intimidating there’s a huge opportunity to come out of the “data challenge” stronger than ever before with effective organization and use of your first-party data.