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7 contrasts IT Executives need to know before making investments
Technology has upended industries, capabilities, and functions, and has the ability to automate a great number of tasks. The evolution of technology has meant the automation of more sophisticated tasks, including things like resume screening for HR, legal reviews of documents, and automated marketing communications.
Internal IT organizations are tasked with optimizing internal and external processes, vendors, and software to optimize the return on technology investment. This works well in operational and staff capabilities where processes are streamlined, and the inputs and outputs are well understood.
Marketing organizations, however, are a different breed. Marketers’ needs change; their ability to adapt to competitors, build loyalty, and test new campaigns and offers, across all digital and non-digital media. This causes their technology needs to be more complex. Methodologies, understanding of fickle customer interests and behaviors, and changing channels (Facebook rules, SEO changes) mean that the routine process of installing sophisticated software and tools and then moving on to the next initiative doesn’t apply.
Analytics are key to the success of any contemporary marketing organization, and data sciences and predictive modeling are more important than ever. However, buyer beware inside an IT organization! There are many IT data science providers who sell themselves as adept at changing customer behaviors as they may be at, say, fraud detection or actuarial sciences. They look at data sciences (Hadoop, machine learning, statistics, etc.) as a solution that by itself changes everything. CIOs who are challenged with building a customer-driven infrastructure (data warehouses, data lakes, marts, platforms, stacks) must understand the limitations of the tools and the needs of marketers if they are to provide technology, resources, and leadership in this area.
Here are seven things that CIO’s need to know about marketing analytics when evaluating internal and external partners that support marketing:
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