In 2011 Ken Perlman from Kotter International, conducted a workshop on change and innovation and saw how continual change was taking a toll on employees as they were exhausted and fatigued. This research from Perlman concluded that 70 percent of transformation efforts failed. Not much has changed since this study.
The rapid rate of technological advancement has resulted in a constant game of catch up. Businesses have become increasingly dependent on new change program that are designed to drive efficiency . With good intentions at the core, this change can lead to “Transformation Fatigue – the sinking feeling that the new change program presented by management will result in as little change as the one that failed in the previous year.”
As the importance of big data continues to increase for businesses in terms of marketing and sales, there are constant efforts to access a more productive data management platform. While companies hope to get the most out of their data management platforms, they can sometimes run into problems. With continuous changes, employees often experience burnout which can create a sense of frustration within a company.
Why are Data Management Platforms Important?
In the digital age, data management platforms (DMPs) are the backbone that help businesses connect and build their audience segments. These platforms are effective in storing and managing data on audiences, sentiment, and engagement. The analyses from data management platforms are designed to create campaigns that can be continually developed to reach certain audience segments.
Many businesses have adopted data management platforms as they have seen quantifiable results. However, the implementation of these platforms has been problematic. A report from the Oracle Marketing Cloud reveals how many companies are experiencing Transformation Fatigue as their employees are not equipped to handle the transition and adoption of new data management platforms.
-Oracle Marketing Cloud and E consultancy
As data management platforms become essential for an effective business, companies will have to understand and organize the incoming data that is presented. According the chart above, 32% of companies are not using a DMP due to a lack of internal expertise. Organizations should strive to maximize their market share relative to their competitors, and the ability to use business intelligence to boost productivity and influence ROI becomes notably important.
The Synaptik platform has been at the forefront of providing strong business intelligence that combines structured and unstructured data. Synaptik connects businesses with services for a variety of purposes such as brand sentiment, campaign effectiveness, and customer experience. The user-friendly platform allows you to create new combinations of pivot tables without the back and forth communication of the IT Department.
The process of acquiring internal and external/3rd party quantitative and qualitative data can be time-consuming and challenging. Different sources like websites, social media channels, video content sites, government databases, APIs & SQL databases require different techniques and have their limitations. This can make sorting and analyzing data very difficult especially without the right technical expertise. Fortunately, Synaptik as a platform comes with data professionals who can assist in building and configuring data agents for 1-click ease of use.
As you can leverage new data analytic processes new “business and data revenue” opportunities can present themselves.
By Joe Sticca