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Historically, adoption of marketing intelligence platforms has
largely been limited to agencies and large enterprises, primarily
due to the required resources and skills as well as the high price
point. While marketing intelligence platforms offer a much less
expensive and faster implementation compared to dashboards
custom-built with traditional business intelligence (BI) tools, the
technology is still out of reach price-wise for most small and
mid-market businesses. This leaves marketing and IT departments
within these organizations to aggregate and validate huge amounts
of marketing technology (MarTech) data and utilize largely manual
and piecemeal reporting methods to get to the information they need
to measure success.
Analysts predict spending on marketing analytics will leap from
4.6 percent to almost 22 percentof marketing budgets by 2020,
confirming the importance of the business imperative. According to
Gartner, 52 percent of marketing leaders say they are still
spending the majority of their analytics time on data management
(preparation, formatting and integration). This time-consuming
approach has left marketers desperate for a solution that is
easier, efficient, affordable and reliably accurate to tie sales
and marketing activity to revenue so that they can spend their time
on the real business of marketing instead of cleaning up and
piecing together data.
Business Applications communities