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Data collection, analysis and use

Data is becoming increasingly important for businesses to thrive. But, what data are they collecting and importantly, are they successful at using it?

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The majority of ITDM respondents report that their organization currently collects data via website (61%), email (58%) and in store/in person (56%), while a quarter or more say that they will do in the future (27%, 29% and 25% respectively).

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However a smaller proportion (45%, 40% and 37% respectively) of surveyed consumers expect that their data is collected via these sources currently, which suggests that more organizations are collecting data from sources than consumers realize.

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Only around a third (35%) of surveyed ITDMs believe that their organization can highly effectively analyze the data that it collects, while 54% say that they can do it quite effectively.

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Most admit this shortfall could be improved upon; just over nine in ten (91%) ITDM respondents agree that their organization could be more prepared in order to make better use of the growing amounts of data that is becoming available. A similar proportion (89%) agree that the ability to effectively collect, analyze and use data would give them a competitive advantage in their industry.

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