Approximately four out of five senior marketers feel overwhelmed by the current onslaught of new technologies and vast quantities of consumer data, a recent Domo report found.
In a survey of nearly 700 marketing leaders around the world, Domo found that many are losing sight of important KPIs due to "data blindness" caused by an influx of analytics technologies and techniques. In fact, 83 percent admitted to struggling to adapt to the sheer volume of available data.
In their efforts to process all this data most effectively, 70 percent said they plan on allotting at least 20 percent of their marketing budget on data management and analytics in the next year. Nearly a quarter said they will be spending up to 40 percent of the budget on these efforts.
Additionally, 80 percent of respondents suggested the marketing industry is focused on too many performance metrics, with a total of 78 percent admitting that they have felt the pressure to chase short-term results instead of long-term strategy.
View the full report here.
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