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SOURCE Direct Marketing Association
Data-Driven Marketing Economy adds $156 Billion in Revenue to the U.S. Economy, Fuels More than 675,000 Jobs in U.S.
CHICAGO, Oct. 14, 2013 /PRNewswire-USNewswire/ -- The Data-Driven Marketing Institute (DDMI), an initiative of the Direct Marketing Association (DMA), today announced the results of a ground-breaking study quantifying the value of the Data-Driven Marketing Economy (DDME). DMA President and CEO Linda A. Woolley unveiled the report, entitled "The Value of Data: Consequences for Insight, Innovation, and Efficiency in the U.S. Economy," during her opening address at DMA2013, The Global Event for Data-Driven Marketers.
This first-of-its-kind study – commissioned by DDMI and undertaken by Professors John Deighton of Harvard Business School and Peter Johnson of Columbia University – gives policymakers in Washington and beyond the facts about the vital role of responsible data use in fueling innovation and economic growth – and what would be lost if regulation impeded responsible exchange of data across the DDME.
"The study fills a significant gap in understanding about massive changes currently transforming the U.S. marketing and advertising industries – changes propelled by the growing quantity and variety of data available to businesses and consumers alike," Woolley said. "Given that every industry in America relies on data-driven marketing, the results of this first-ever effort to systematically and objectively map, measure, and analyze the DDME will benefit anyone with an interest in a vital, efficient, and growth-producing marketplace for goods and services in the U.S."
Key findings include:
"The bottom line is that well-meaning but poorly-conceived legislation or regulation restricting the responsible use of data would harm the U.S. economy," said Woolley. "It would impact billions of dollars in revenue and hundreds of thousands of jobs, make small business less competitive, and stifle overall innovation. In the end, it would hurt consumers by limiting choices and raising prices. Policymakers need to comprehend the true impact of their decisions. The findings of this study help to move us from a fear-based to a fact-based conversation. Any future regulatory debate about the use of data should be grounded in the facts about the value that the DDME provides to the U.S. economy."
To access the full report, and DMA' s summary and analysis, please visit www.thedma.org/valueofdata.
For more information, and interview opportunities, please contact firstname.lastname@example.org.
About Direct Marketing Association (DMA)
The Direct Marketing Association (www.thedma.org) is the world's largest trade association dedicated to advancing and protecting responsible data-driven marketing. Founded in 1917, DMA represents thousands of companies and nonprofit organizations that use and support data-driven marketing practices and techniques.
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