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Marketing analytics

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vura Sairam
vura Sairam

business analytics and its importance, marketing analytics definition and its importance, how marketing analytics helps to run the organization in effective and efficient manner.

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Business analytics To run the organization in effective and profitable manner . Analytics is the field which combines data ,information technology, statistical analysis, quantitative methods into one for taking right decisions.
Importance of business analytics Increase profitability of business, market share, revenue, return to share holder. To gain competitive advantage. Converts data in valuable information.
Marketing analytics Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Understanding marketing analytics allows marketers to be more efficient at their jobs and minimize wasted money. However, with the advent of search engines, paid search marketing, search engine optimization, and powerful new software products from Word Stream, marketing analytics is more powerful and easier to implement than ever. Fastest growing area. Descriptive, predictive and prescriptive analysis are used.
Importance of marketing analytics Product Design: Keywords can reveal exactly what features or solutions your customers are looking for. Customer Surveys: By examining keyword frequency data you can infer the relative priorities of competing interests. IndustryTrends: By monitoring the relative change in keyword frequencies you can identify and predict trends in customer behavior. Customer Support: Understand where customers are struggling the most and how support resources should be deployed.
Cont.……. Better use of advertising budgets. More effective pricing strategy. Improved forecasting of demand. Improved product line management. Increased customer satisfaction and loyalty.
Cont.……. Marketing analytics also helps the organization to know answers for various questions like. How companies marketing activities are performing? How competitors are investing their time and resources? Whether companies marketing activities perform for long run or not? Marketing analytics data helpful for taking right decisions? Are companies resources being efficiently used? What can be done to improve companies performance?
Marketing analytics

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Marketing analytics

  • 2. Business analytics To run the organization in effective and profitable manner . Analytics is the field which combines data ,information technology, statistical analysis, quantitative methods into one for taking right decisions.
  • 3. Importance of business analytics Increase profitability of business, market share, revenue, return to share holder. To gain competitive advantage. Converts data in valuable information.
  • 4. Marketing analytics Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Understanding marketing analytics allows marketers to be more efficient at their jobs and minimize wasted money. However, with the advent of search engines, paid search marketing, search engine optimization, and powerful new software products from Word Stream, marketing analytics is more powerful and easier to implement than ever. Fastest growing area. Descriptive, predictive and prescriptive analysis are used.
  • 5. Importance of marketing analytics Product Design: Keywords can reveal exactly what features or solutions your customers are looking for. Customer Surveys: By examining keyword frequency data you can infer the relative priorities of competing interests. IndustryTrends: By monitoring the relative change in keyword frequencies you can identify and predict trends in customer behavior. Customer Support: Understand where customers are struggling the most and how support resources should be deployed.
  • 6. Cont.……. Better use of advertising budgets. More effective pricing strategy. Improved forecasting of demand. Improved product line management. Increased customer satisfaction and loyalty.
  • 7. Cont.……. Marketing analytics also helps the organization to know answers for various questions like. How companies marketing activities are performing? How competitors are investing their time and resources? Whether companies marketing activities perform for long run or not? Marketing analytics data helpful for taking right decisions? Are companies resources being efficiently used? What can be done to improve companies performance?