What is means Data-Driven? – Data driven means that progress in an activity is compelled by data, rather than by intuition or personal experience. It is often labeled as the business jargon for what scientists call evidence based decision making. This often refers to: Data-driven programming.
The Direct Marketing Association (DMA) found that revenues generated by data-driven marketing grew for 45.7% of US marketers between Q1 and Q2 2015, with 9.0% saying they grew significantly. What’s more, respondents thought data-driven marketing would be even better for revenues in the future. When the DMA asked about expected changes in such revenues between Q2 and Q3, a majority of respondents (54.3%) said their organization’s revenues from data-driven marketing would go up. The share expecting significant increases also rose, to 11.0%. Meanwhile, while significant shares of marketers expect no change in such revenues, the share who are projecting decreases fell from 9.6% in Q2 to 4.7% in Q3.
Spending on data-driven marketing is also increasing quarter over quarter—and those increases are becoming more likely, too. While the majority of respondents said there was no change in regards to their organization’s data-driven marketing spending in both periods queried, more than a third (34.6%) said they spent more in Q2 than Q1, while 39.2% expected spend to increase somewhat or significantly in Q3.
In terms of data-driven marketing priorities, almost two-thirds of US marketing professionals said that expanding focus on customer acquisition, as well as retention, loyalty and CRM were key. Evaluating utilization of marketing technologies and integrating or activating new data sources were also important.
(*Source: Wikipedia, eMarketer)