Dave Booth on why Big Data is getting a slow start

In today’s MediaPost, Cardinal Path co-founder and senior partner Dave Booth illustrates why big data strategy has not yet caught fire as an industry standard.

“More than 4,000 top marketers were surveyed [in CMOsurvey.org’s biannual CMO survey], and respondents — mostly VP-level or above marketing leaders — reported a decrease in the percentage of marketing projects in their companies that used analytics, from 37% on February of 2012 to 29% in August 2013.

And a majority of companies that said they did use marketing analytics reported not evaluating the quality of the analytics efforts in increasing rates: 53% in August 2012 and 67% a year later in August 2013.

So what gives? Is Big Data and all its promises of riches and glory really just this century’s version of snake oil elixir and have all the smartest marketers called fraud on it?

Not at all.”

Read more here.