A wealth of data and digitalization have brought sales and marketing closer together. The next-generation of sales techniques that are data-driven and aligned with the customer journey have been three times more successful than traditional methods. Although content has been the king of selling for a long time, it has been overthrown. Data is a modern necessity. The advancement of technology has allowed marketers to track individual contacts and final deals in an Omni-channel selling environment. They can create content that will help them achieve their business goals. Marketers recognize the importance of transforming data quickly and efficiently with the advancement in data.
They discovered that the best performers are those who invest more in marketing technology analytics. Companies can win by investing in data transformation and analytical tools. This research examines the effectiveness and significance of data-driven marketing as the next generation in marketing and the major challenges it faces. Keywords: Digitalization. Omni channel marketing. Marketing analytics. Data has carved out an identity. Analytics and huge records are a topic of conversation in almost every industry. Marketers increasingly rely on statistics to help them optimize their message. Five years ago, McKinsey Global Institute was able to launch big data. Information science has seen rapid advancements in recent years, mainly with regards to machine learning and deeplearning. The vast amount of raw information available to organizations, combined with the most powerful and advanced analytics tools, can be used to generate insights that will improve operational performance as well as new avenues for marketing. In the end, they don’t have to make their decisions blindly or rely solely on gut instinct. In 2017, a study revealed that 9 percent of retailers believe there is a significant opportunity for marketing based on data in the future. However, this has increased to 19% (compared with 16% for all sectors) and now it is the number one priority. This is why the majority of businesses collect, store, and inspect statistics to aid in strategic enterprise decisions. Businesses view the ability of managing, analyzing and acting on statistics (“data – driven choice systems”) as an asset. Data-driven agencies have the potential to harness big data analytics and provide a full range of determinants that will impact innovation performance and competitiveness. There are many obstacles that must be overcome to embrace data-driven methods and gain valuable insight from large amounts of data.
