Marketing is moving from a data-driven function to a data-centric function. In today’s increasingly data-heavy world, marketers have a lot of pressure to develop data analyzing, visualizing and interpreting skills, not to mention applying and taking action on that data. With the role of marketer already demanding full-time attention, many marketing departments are falling short of their aspirational data goals.
Customer lifetime value is quickly becoming the metric to enable marketers to overcome both their lack of data skills as well as a lack of support from data science teams. Understanding customer lifetime value is helping some of the most innovative companies in the world do more to acquire the “best” customers and do some of the most innovative marketing ever.