Marketers struggle with analytics: GartnerNestor E. Arellano - June 13, 2013While companies allocate a large amount of their marketing budgets to marketing analytics, organizations are still struggling to mine value from their analytics programs, according to a survey by research firm Gartner Inc.“Reports go unused or are misinterpreted, and the market for data-driven personalization tools is still small,” according to Gartner’s Data-Driven Marketing Survey 2013. “Instead, there are many disconnected analytic efforts, each with their own goals, vendors and labour costs.”Where marketers look for external data (Source – Gartner Inc.)Gartner surveyed 242 marketing analytics professionals from November to December 2012 to understand how organizations collect analyze and use customer data.The research firm found that companies are spending and average of 21 per cent of their marketing budgets on analytics.The figure averages out to 41 per cent for labour, 15 per cent for external data, 19 per cent for analytics software, 14 per cent for external marketing analytics and 11 per cent for consultants.RELATED CONTENTHow retail is learning about BI from the NSAHow predictive analytics can deliver strategic benefitsMarketers, Gartner said, get value from data when they use analysis to develop and bring new products and services to market, gain better understanding of their target audience and optimize campaigns and online presence to raise conversion rates.However in their interview of marketing professional, researchers found many companies “see their analytics operations as a bit chaotic.”“A typical analytic tool inventory includes multiple cloud-based tools for Web, social, search engine marketing, advertising and email marketing,” the report said. “Only a small fraction of the organizations have stepped up to the challenge of integrating the analytics process and tools to get the big picture.”Among Gartner’s recommends were the following:Development of marketing leaders that foster an analytics culture that seeks data to solve business problemsTraining marketers on how to effectively use data analysis to improve decision makingFoster an environment in which even limited analytics expertise can be shared even to the point of having an internal consulting group that specializes in marketingSeek out external experts that can provide guidance on how to deploy analytics tools and transfer to appropriate staff how to effectively used these toolView summary of Gartner’s Data Driven Marketing Survey 2013 here Related Download Sponsor: TrippLite Get the Picture? Digital Signage Connectivity and Power Matter Download this paper to learn how you can be confident when maximizing your digital signage system with Tripp Lite’s broad selection of highly cost-efficient, expansion-friendly connectivity, protection and power solutions. Register Now Enterprise Applications analytics, business intelligence, Gartner Inc.