Digital channels represent 25% of today's total marketing budgets, and with the adoption of smartphones, digital commerce, and growth of social networks, digital marketing spend is expected to grow to one third by 2017, says Michael Lummus, director of digital marketing solutions at Teradata.
Big data will represent $50 billion in spending in the US alone, with a lot of the use cases driven by marketing and digital. Teradata's international survey of 400 enterprise digital marketers found an upward trend in digital marketing budgets, and a slight decrease in more traditional offline channels.
The rise of digital channels comes with its own challenges as they can be difficult to integrate with existing systems. Integration is essential to communicating across departments, and focusing the business in support of strategy, be it customer centricity or operational alpha.
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Becca Lipman is Senior Editor for Wall Street & Technology. She writes in-depth news articles with a focus on big data and compliance in the capital markets. She regularly meets with information technology leaders and innovators and writes about cloud computing, datacenters, ... View Full Bio