What is marketing analytics? Why has it become so central to gathering data about customers and performance?
What will be an ideal response?
Marketing analytics consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance. Marketers apply marketing analytics to the large and complex sets of data they collect from Web, mobile, and social media tracking; customer transactions and engagements; and other big data sources. For example, Netflix maintains a bulging customer database and uses sophisticated marketing analytics to gain insights, which it then uses to fuel recommendations to subscribers, decide what programming to offer, and even develop its own exclusive content in the quest to serve its customers better. Marketing analytics is necessary to convert the wealth of data into information that is both usable and valuable for marketers. Gathering and sifting through the big data is essential for uncovering insights about customers and performance that are actionable.
You might also like to view...
A particular combination of factor levels, or categories, is called a treatment
Indicate whether the statement is true or false
Maximum contaminant levels (MCLs) are developed from the maximum contaminant level goals (MCLGs), but also take into account the ________
A) purity of the water in its natural state B) importance of the industry to the community C) number of fatalities from impure water during the preceding calendar quarter D) feasibility and cost of meeting the primary standard