consumer data

Majority of Small Businesses Lack Reliable Customer Data

90% of business leaders surveyed view customer behaviour research as unaffordable investment, despite admitting importance of data insights 72% of small and mid-sized businesses make decisions based on instinct rather than results from customer research, according to The Democratisation of Insight report, with 50% of business leaders admitting they rely on feeling as opposed to hard data. Over a third of small and medium firm leaders complained they lack enough customer insight to make knowledgeable decisions; with only 10% relying on customer data to make decisions but 81% confirming that if it was available it would be influential in their business decisions. 90% of companies surveyed felt in-depth consumer data is an investment reserved for larger brands with bigger budgets. The finding... »