New Research: 71% of Entrepreneurs and 64% of Companies Flip to Knowledge Collaboration Platforms as Knowledge Panorama Evolves

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98% of entrepreneurs and businesses face knowledge challenges, based on Lotame | Cint’s new international research, seemingly prompting widespread adoption of collaboration instruments for options

NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) — Lotame, the worldwide expertise firm that makes buyer knowledge smarter, quicker, and simpler to make use of for digital entrepreneurs, at the moment introduced the discharge of, “The State of Knowledge Collaboration: A World Perspective” fielded by Cint. The report surveyed 1,200+ entrepreneurs and company professionals throughout North America, the UK, Mexico, Brazil, Singapore, and Australia to evaluate how they’re adapting to the evolving knowledge panorama. It highlights the growing reliance on knowledge collaboration platforms, the influence of synthetic intelligence, and new applied sciences to fight the rising addressability hole.

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Regardless of persistent challenges in unifying, managing, and activating digital advertising knowledge, there’s a noticeable pattern in direction of adopting collaborative and versatile knowledge applied sciences to beat these hurdles. The report highlights the significance of information collaboration platforms, with 71% of entrepreneurs and 64% of businesses already utilizing them, and additional adoption anticipated. These platforms supply a number of benefits, together with viewers concentrating on (the highest profit reported at 44%), enhanced personalization (42%) and expanded attain (41%) following carefully.

“The panorama is present process one more vital transformation, as entrepreneurs proceed to acknowledge the blockers to participating prospects amid an addressability hole,” says Andy Monfried, CEO of Lotame. “Orchestrating and activating knowledge stays a significant wrestle for entrepreneurs and businesses, each inside and out of doors their organizations. Nevertheless, they’re lastly overcoming this barrier by means of a mixture of expertise and shift in mindset. Somewhat than turning into mini walled gardens, entrepreneurs and businesses are realizing {that a} rising tide lifts all boats and are embracing a collaborative strategy to knowledge — enabled by knowledge collaboration platforms.”

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Further key findings from the report embody:

• Knowledge challenges are ubiquitous, with 98% of entrepreneurs and businesses citing some type of barrier, akin to discovering high quality companions and limitations of first-party knowledge.
• Programmatic spending confirmed a continued decline, with 55% of entrepreneurs anticipating a discount on account of finances allocations.
• Technological investments are set to surge, with 62% of entrepreneurs and businesses planning to undertake knowledge collaboration platforms within the subsequent 6 months to a yr.
• With regards to enhancing first-party knowledge, 61% of businesses are tapping knowledge enrichment whereas 52% of entrepreneurs are leaning into AI.

“This analysis gives a deeper view of how entrepreneurs and businesses are navigating the present promoting challenges,” says Laura Manning, SVP, Measurement at Cint. “The findings reveal a variety of methods being adopted, from addressing limitations in first-party knowledge to exploring new applied sciences like knowledge collaboration platforms. Because the trade continues to evolve, we see a rising emphasis on progressive options to reinforce viewers concentrating on, personalization, and total knowledge orchestration and activation — all of which finally advantages the top shopper.”

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See the total “The State of Knowledge Collaboration: A World Perspective” report right here.

About Lotame
Lotame is a expertise firm that makes buyer knowledge smarter, quicker, and simpler to make use of for digital entrepreneurs. Our end-to-end knowledge collaboration platform empowers entrepreneurs, businesses, and media house owners to entry, analyze, and activate the information they should perceive and interact shoppers. Our confirmed dedication to trade interoperability, connectivity, and privateness assist drive profitable enterprise outcomes for corporations on their phrases. Lotame is headquartered in the US and serves international shoppers in North America, Latin America, Europe, Center East, Africa, and Asia Pacific.

Lotame and associated logos are registered logos or logos owned by Lotame Options, Inc. within the U.S. and/or different international locations. All Rights Reserved.

About Cint
Cint is a pioneer in Analysis Know-how (ResTech). Our platform, The Cint Trade, is the world’s largest pattern market for digital market analysis. Our clients use the Cint Trade to put up survey questions and get solutions from over 335 million folks throughout 130 international locations who’ve consented to share their opinions, motivations, and behaviors for incentives. They then use these solutions to construct enterprise methods, confidentially publish analysis, precisely measure the influence of digital promoting, and a lot extra. Primarily, we’re feeding the world’s curiosity.

Cint Group AB (publ), listed on Nasdaq Stockholm (STO: CINT), has a worldwide workforce of over 1000. Cint has places of work in Stockholm, London, New York, New Orleans, Singapore, Gurgaon, and Sydney, amongst different areas.

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