Today, there is no shortage of data. There is exponentially more available data in our hands today than a decade ago, and there will be much more data available tomorrow than there is today. With so much information available, it’s strange that many still rely on their instincts or sales pitches to determine where to put their advertising dollars.
Most big companies get it. They will go so far as to buy other companies just to get access to their data. This has been common for decades, but today the ability to sift through and organize the data in a quickly-retrievable manner makes it even more prevalent than the past. For smaller companies, it gets a little more complicated, particularly if they’re working within a constraint such as limited potential customers bases or localization. That doesn’t mean it’s not impossible.