A majority of Indian businesses are failing to utilise data generated from online sources usefully despite investing more in data-driven digital platforms and tracking systems, according to a survey.
As much as 70 per cent of marketers in India admit that they find it difficult to integrate data from different sources, says the study by global market insight firm TNS.
Indian businesses are investing more in data-driven digital platforms and tracking systems to help them understand the challenging online landscape, it added.
“With so much data available, marketers know they should be able to make decisions in real-time, but many are struggling to integrate traditional and digital measurements,” the report said.
Much of this data comes into the marketing department, with one in three marketers (37 per cent) now managing real-time data as part of their role, the TNS report said.
“Yet, 70 per cent are unable to integrate multiple data sources — such as social media, blogs, website traffic and search data — leaving them unsure what action to take,” it added.
Commenting on the findings, TNS India Managing Director (South India & Sri Lanka) and Head of Brand & Communications practice S Visvanathan said many businesses are overwhelmed by the volume of data.
“India’s online environment is developing at break-neck speed. As more and more people start connecting to the Internet through mobile and accessing digital platforms, the amount of data is set to explode. The key is to understand how to use it effectively now, before the volume becomes unmanageable,” Visvanathan said.
The report said current market research methods are not helping marketers make quick and informed decisions. Analysis is viewed as ‘not actionable enough’ (69 per cent ) and ‘too slow’ (73 per cent) to be of use, according to the marketers surveyed across the country.
Due to the difficulties with real-time data, many marketers are falling back on traditional measurements, the survey said, adding that sales uplift metrics were still used as the number one way of evaluating the success of marketing campaigns.
TNS Marketing Monitor was carried out in eight markets in Asia Pacific, including India, China and Australia and is based on responses from 2,716 marketing professionals across markets, the company said.