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Is It Possible to Have Too Much Data? Featured

Is It Possible to Have Too Much Data? Mathew Schwartz

Big data analytics has significantly changed the marketing landscape for the better. At the same time, it has made things more complicated for marketers. Despite the data that organizations have in their possession being like a treasure trove consisting of actionable insights that can be leveraged to improve operations, the type of data is also crucial. Therefore, the digital marketing approach and the data-driven models that organizations adopt may not entirely mean that they will have a free ride in their marketing initiatives as most marketing firms would want to believe. Below are the reasons why it is possible to have too much data.

More data, more problems

As the number of big data sources increases, so do the data coffers. However, getting more data is not a big problem; knowing what to do with it is the real deal. With more data sources, it becomes hard for you to determine what to do with them. Many data sources make tracking difficult, meaning you must learn to focus on the data sources relevant to your organization, its goals, and objectives. Without this, it becomes easy to be distracted by too much information, most of which is not relevant to the organization and marketing goals in particular. Although most companies that adopt a data-driven tend to accept data from all sources, not every piece of data is useful—some need to be filtered to remain with the relevant ones. According to a report by Forbes in 2016, companies were expected to produce 4300% of more data in 2020 compared to four years ago. This indicates that data is growing rapidly. No matter how advanced your analytics toolkit is, it is impossible to utilize all data. Therefore, understand what you want and focus on it. This is not always easy to do.

Not all tools are the same

As a marketer, you always have a number of data tools to help you achieve your goals. From AdWords, Rank Tracker and AuthorityLabs, you always require a great arsenal to deal with different issues in marketing. Despite the presence of various tools, you might still face many challenges, just like having too much data. Adding more tools to your analysis arsenal can adversely affect your analysis and cause confusion. Each one of them can add a new dimension leading to different outcomes.

Another problem is that there are good tools, and then there are bad ones. Furthermore, even a good tool has its share of strengths and weaknesses. If you are not aware of all these, it can be hard to use each tool at your disposal to get the best.

The data-driven approach has some flaws

The data-driven approach attracts many people because it feels safer. Although the strategies based on opinions and past experiences cannot be accurate all the time, tactics created based on data are always efficient. While data-driven strategies can be appealing, they come with a risk. Data is not always right, and when you come up with strategies based on bad data, you end up with incorrect insights. Depending on such insights can be detrimental because high confidence is placed on data, and decisions are made based on such. Bad data analysis can take a company to the ditch, especially when the right questions are not asked.

Data-informed approach

Data can be helpful to your business as you seek to navigate the tough terrain. Although data should help you make better decisions, it should never be the brain behind every decision you make. Even as you use data to inform your decisions, you should know that it is too easy for it to be misinterpreted, mainly because not all SEO and marketing tools you use in analytics are made equal.

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Scott Koegler

Scott Koegler is Executive Editor for Big Data & Analytics Tech Brief

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