Every day, 2.5 quintillion bytes of data are created by sales and marketing organizations. Although storing mountains of data in hopes of uncovering actionable insights might seem like an effective use of businesses’ time and money, the costs associated may surprise you.
A recent infographic created by Lattice Engines reveals that 88% of marketing teams are missing out on business opportunities due to inadequate information. Of those surveyed, 24.5% felt challenged by the data and the time it takes to research, while the rest of the respondents were either ill-equipped or not interested in correctly handling the influx of data.
In addition to the lack of adequate big data strategy, storing and analyzing information is actually costing businesses big money. The typical sales rep spends an average of 4 hours/week on preparing for a sale, and with one million sales reps currently in the U.S., this amounts to $50 billion per year.
Here’s deeper look into what Lattice uncovered: