Despite this, more than half are ‘only just starting’ the process of giving it a central role in their marketing. 

The study is based on responses from 32 companies with a global annual marketing spend of $35bn. It found that 31% of companies described themselves as advanced or highly advanced in the adoption of data-driven marketing (DDM). 

Return on Investment (ROI) or Return on Marketing Investment (ROMI) equals the gain from a program minus the cost of the program, divided by the cost of the program.

As we reach the midpoint of 2014, we are in the middle of a fundamental transformation in the way businesses view analytics. Analytics are now seen as core to a business’ growth strategy and means for measuring, implementing and sustaining success. I am extremely pleased to see this happen and that marketing analyst no longer have to fight for the value of analytics. The fact is, those who fail to invest in understanding what drives their business will find it hard to compete in a world that thrives on data. This is why analytics matters.