How to Align IT and Marketing on Big Data
It's difficult to imagine that a decade or so ago, IT and marketing professionals could co-exist in the same building while going days—maybe even weeks—without speaking to each other. But that era is gone, and for a very good reason: With value being mined from big data every minute, it's absolutely essential to bring tech and marketing together to maximize results from analytics projects. After all, data generated by business is projected to increase by 40 percent annually, according to McKinsey Global Institute. And, for 15 of the 17 major industries in the United States, the average company stores more data than all the information in the Library of Congress. Data about customer preferences, behaviors and a rich assortment of details represents a goldmine of actionable findings—but only if marketing has the tools needed to make the right decisions quickly. That's where the IT organization comes in. To put all of this in perspective, Teradata has come out with a recent ebook, The Data-Driven Marketing Opportunity, which combines research taken from a Teradata survey of 2,200 marketers and industry research from firms such as Gartner. So consider the following statistics and best practices—as well as myths and realities—about IT, marketing and big data.