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Most important role for CMO is being able to make sense of big data
Dec 20 2011, 13:57 PM
A recent IBM survey of 1,700 chief marketing officers (CMOs) reveals social media is the second biggest challenge for today's CMO, with the 'data explosion' ranked as number one, it has been reported by the Telegraph.
Data management has been cited as the key to success for the modern business, the challenge of which usually falls into the hands of the CMO.
Mark Zuckerberg, founder of social networking site Facebook, has predicted people will double the amount of information they share online each year, in an online phenomenon that has been coined 'Zuckerberg's law'.
Making sense of this information has been cited as a potential gold mine for businesses, with data quality seen as the catalyst of an online boom for companies. Businesses that successfully organise, understand and measure important data will see significant value being added to the business.
According to the Telegraph, 'many successful senior marketing people spent the 90s working in direct marketing'. This is because the process of gathering information, analysing it and programming the company to the information has proved to be a lucrative attribute.
Alexis Dormandy, founder of LoveThis, comments in the Telegraph: "Those who use data intelligently can use networks like Facebook and Twitter to acquire more customers more cheaply, and sell more relevant products."
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