Access to ever-increasing amounts of data can cause anxiety, and sometimes action paralysis. Many marketing professionals ask, “Is there more data I could look at before making a decision?” While large amounts of data may allow for progress on some business questions because more data is available, a recent Forrester Report indicates that while 74% of companies want to be more data driven, only 26% are good at connecting data to actions, citing a lack of resources for expert data interpretation, organization, and management.
How, then, should successful management teams utilize data to craft action plans that deliver tangible value from new knowledge? What are the different types of data that can be used for solution analyses? When is enough (data) enough?