Recently, the WFA and Decideware held a webinar which explored how marketing sourcing teams can better leverage data to make smarter, more effective strategic sourcing decisions. The webinar included information on:
- How marketing sourcing organizations currently handle data;
- Ownership and management of data sets and their usage;
- Where opportunities lie for better reporting and visualization.
The webinar can be viewed here: https://www.youtube.com/watch?v=kxB1xre30pM&feature=youtu.be
Additionally, the webinar overviewed the results of a May, 2015 survey that the World Federation of Advertisers & Decideware conducted among major advertisers. The survey sought to understand the key stakeholders and processes that companies utilize to manage data. It also provided a number of insights into the beliefs and behaviours of marketing procurement executives with respect to the importance of using data to make key decisions.
The results are compelling, with the majority of the respondents understanding the importance of data when making key decisions. Interestingly, 88% of companies polled responded that they could make better decisions if they had access to more robust data. And yet only 19% of companies surveyed indicated that they felt that their Business Intelligence practice had reached a higher level of maturity.