Its applications can be mainly branched into two types: First, in which users are included in framework of decision support and second type is where they are not, i.e., Automated marketing analytics. The fundamental intention of using analytics in marketing is the improvement in overall process of decision making.
With the increase in technological advancements and environmental adjustments, there has been a drastic change in the way a marketing manager needs to structure, align and execute jobs. Some of the most important modifications consist of:
1. Pervasive, networked, advance information generation (IT) infrastructures
2. Enormous volumes of data
3. Increase in diverse customers
4. A manifold increase in the demands by management to make greater returns on investment
5. A global, business environment with intense competition
This is where marketing analytics comes into play, giving the industry to sustain the cut throat competition by applying the results from marketing analytics and increase profitability.
Analytics involves the following three basic stages:
1. Descriptive 2. Inferential 3. Predictive
Descriptive and Inferential are classified as basic analytics which is presently treated as business intelligence. The other stages are of greater complexities and value. Predictive analytics helps in :
- Identifying the best customer segment to target
- Forecast future performance based of previous campaigns
- Identifying the loyal customers for incentivisation
Impact of Marketing Analytics
この記事は SME World の October 2019 版に掲載されています。
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この記事は SME World の October 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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