We have reached a tipping point. Technological shifts, Consumer behavior, government legislation and cyber threats are forcing marketers to rethink their relationship with data. On the one side of the scale, we have Security, Privacy and Compliance, and on the other, the ability to use data to make business-critical decisions.
The MMA partnered with EY and surveyed over 100+ senior U.S. marketing leaders across major industries to assess the maturity of consumer data in organizations. Together we endeavored to understand how the tug of war between growth through data-driven decisions playoff against the risk of managing the complexity of marketing-generated data within today's modern organizations.
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How “mature” is your organization when it comes to management and use of data? Our study showed that data maturity is multi-faceted, and most companies are further along in specific categories, such as transparency and data ownership than others – how does your company compare.
Through our research, we discovered most organizations lack the processes and skills to effectively gather, analyze and execute against consumer data. Moreover, the findings revealed that data maturity is multi-faceted, and most companies are further along in specific categories, such as transparency and data ownership than others.
We found that only 36% of senior marketing leaders were able to show a level of privacy, security and compliance maturity when it comes to data ownership, governance & integration.
We also found that these marketers could only muster between 40%-53% maturity when it came to data-driven decision-making abilities.
With this research, we were able to develop a Data Maturity Framework that serves as a roadmap for the future of marketing data. The framework provides marketers with benchmarks for key areas of the industry’s evolution, including data and privacy law compliance, cookie-less advertising and meaningful cross-platform consumer engagements.
During our analysis and as we developed the Data Maturity Framework, we identified five data maturity archetypes:
- The left behinds
- Compliance Orientated
- Martech Focused
- Data Committed
- Data Leaders
As you review the findings, consider where your organization and your competitors fit among these archetypes.