“Data torrent” poses problems: Brand owners are struggling to deal with the “torrent of data” resulting from the rapid growth of digital media, according to research by the World Federation of Advertisers and Warc. A survey of 25 firms, collectively responsible for $35 billion in worldwide marketing expenditure per year, found 56% were tracking between five and 10 digital metrics.
Other study findings include:
Elsewhere, 24% of businesses monitored 10–15 different indicators, while 8% measured 16–20. Another 12%, however, relied on fewer than five such figures.
72% of respondents agreed the current “data load” was manageable, whereas 20% believed too much data was being collected.
When it comes to understanding digital performance, 68% deployed the “paid, owned and earned” model or planned to do so.
The primary obstacles to obtaining ROI from this data included insufficient resources (74%) and a lack of data know-how among marketers (70%).
Source: World Federation of Advertisers/Warc
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