AI will play a heroic role in garnering the real value of data by offering the
ability to link, organize, and analyze increasingly large data sets.
AI helps to curate more successful campaigns and enhance ROI by making intelligence more actionable than ever. Enterprises have witnessed a steady rise in the use of AI across industries – marketing is no exception. Some of the world’s largest firms rely entirely on AI for MarTech as it holds promises to bring about unexpected disruption by multiplying revenues.
The application of machine learning, algorithms, and AI to solve significant marketing challenges – for example, intelligence gathering, predictive workflows, attribution, and campaign suggestions – will enable companies to market better – magnifying success, with fewer investments and happier customers.
Two years ago, the volume of data generated globally was estimated to be a staggering 2.5 quintillion bytes of data daily. But, in 2020, every individual worldwide is expected to go up to 1.7 MB of data each second of every day.
While with COVID-19 shuffling things up, the exact number is actually unsure, but the figures should have been driven even higher. The legacy analytics tools are incapable of\ ingesting the amount of data created in the modern Martech stacks to make sense of it. There are over 8,000 different companies developing software in this space, and all the data to go along with them. Undoubtedly, the growth of the ecosystem has been empowering. Still, the dangers do prevail.
Read More: How Big Data can add to Operations Efficiency for CMOs
This is precisely why a premium should be applied to data integration and management solutions. For many of the industries, one of the fundamental issues remains – bringing data together effectively and efficiently. In an omni or multichannel marketing environment, developing actionable insights from a range of various marketing campaigns is one of the crucial things that separates a good marketer from a great marketer.
Every great marketer knows precisely how to leverage historical data, how to optimize campaigns, and how to utilize marketing intelligence to map where to spend their next dollar for optimal impact best. There are multiple ways to automate integrations as well as data creation, warehousing, and hierarchical management tasks in minutes.
Regardless, the companies are still trying to solve this problem on their own, in a clunky, slow, old-fashioned, expensive, and error-prone way – doing their integrations and sometimes hiring a different company to create their data warehouses. Such an approach won’t sustain a competitive advantage for longer. Also, one doesn’t have to be a mega corporation to benefit from the insights-driven from the campaign metadata.
Once marketers are confident that they can bring the same level of analytics, insight, and intelligence to the table – leveraging technologies and optimizing them will be simplified. It levels the high-value marketing playing field in multiple ways that promote the effectiveness, agility, and marketing suaveness of independent agencies or consultants as well as midsize and small brands, franchises, and media companies alongside their enterprise counterparts.
