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While everyone is talking about data, the real value is in extracting and leveraging the insights to influence customer behaviour, increase engagement and drive sales and advocacy.
While technology allows marketers to collect and manage huge amounts of customer and market data, the real challenge is in finding, training and developing the key personnel who can extract meaningful insights from the data.
Correct. Data has to be analyzed and given meaning. Its like forecasting the weather, the satellites give raw data of what is currently happening, that is then analyzed and turned into insight to give predictions of what will most likely happen in the forthcoming days and weeks etc.
