A recent blog post from Carlos Cata of Heidrick and Struggles claims that 50% of CMO searches he has recently placed need big data or marketing analytics expertise as a key component. Here’s a quote:
While organizations have had statistical and analytical resources in the past, there is a heightened need for strategic and marketing savvy leaders that can translate models, approaches and customer information management strategies into ‘English’ for senior management
My take is that a “big data” CMO needs to have close partnerships with the CFO and CIO (as well as support from other senior executives. Bringing a big data approach to marketing requires a cultural shift and rethinking how IT, marketing, and finance work together to drive business strategy and execution.
Some of the biggest challenges are
- Getting, aggregating, and processing the right data with a high degree of reliability and predictability.
- Finding the right insights that drive business breakthroughs in the terabytes of available information and extensive analyses that are possible.
These are not trivial tasks especially if data is not available or fragmentary. Findng a way to quickly get a few essential insights that have high impact is a key task for a new CMO, and one that lays the groundwork for longer, more extensive big data projects.