With the spike in online activity and data privacy concerns, digital analytics and governance professionals weigh in on what a truly data-driven business might look like, what pain points could be preventing companies from getting there, and what concerns organizations have about data privacy.
70% analytics and marketing professionals
47% enterprise-level companies (2500+ employees and over $1 billion revenue)
44 countries represented, 56% from the United States
Top 5 industries represented: business services, software, retail, banking/financial, and manufacturing
While the marketing department is still the most represented team managing data governance at 42%, the analytics department is a definitive second with 23%, indicating they are becoming a more integral and distinct part of organizations.
For those that believe improved decision-making is a key element of growth, investing in data management governance is—or should be—a high priority.
86% said data governance was either important or very important to meeting their financial and growth goals
Of those, 43% said data governance was key because it helped improve decision-making
85% of respondents said data privacy is a priority for their organization
Some of the greatest challenges for data governance are:
Spending too much time cleaning their data (22%)
Lack of human or technology resources (36%)
Inaccurate data (10%)
That’s 68% of data governance challenges that can be solved with an automated data governance solution. Only 14% of respondents had matured to such a solution like ObservePoint, which would significantly reduce the hours and manpower necessary to improve data quality.
[See how Exture reduced their QA time by more than 75% with ObservePoint.]
Do you know how much data collection is really happening on your site? Respondents tend to underreport the number of technologies they use by half. ObservePoint conducted an Audit of companies that reported less than 10 technologies in their MarTech stack and found that, on their homepage alone:
36% actually had 11 or more technologies
15% had 20 or more technologies
Discover how Technology Governance from ObservePoint can help you understand what technologies are on your site so you can ensure your data collection tools and processes are executing as planned.
Despite data privacy being a priority among these professionals dealing most closely with customer data, there is no real consistency yet with how privacy teams are set up, where they report to, or what tools they use.
54% of respondents didn’t know what tools their organization use to ensure data privacy
25% didn’t know what processes were in place
Only 41% said they had any designated data privacy personnel
Forrester predicts that the sense of urgency surrounding data privacy regulations will only increase for organizations across the globe in 2021.
Privacy Compliance by ObservePoint performs automated Audits to identify all data collection on your site and helps monitor your compliance technologies.
What tools are teams using to manage tracking codes? (2019 vs 2020)
60% used spreadsheets
23% used a third-party solution
57% use spreadsheets
35% use a third-party solution
The trend is shifting glacially away from manual methods. More widespread adoption of third-party solutions, like Campaign Performance from ObservePoint, will help reduce broken links, missing data, human errors, and hours spent managing tracking codes.