1)
It appears that companies are placing greater value on
marketing analytics – judging by the huge increase in the budgets said to be
committed for the next three years.
Given this increase in funds (and implication that firms think that
marketing analytics are important) are you surprised by the overwhelming
percentage of firms that don’t use currently use marketing analytics? What are some alternative reasons that firms
may have not used analytics in the past?
2)
With the increase in use the marketing analytics, how
do you foresee marketing departments changing?
Do you see a future job market for those who can use these analytics to
steer marketing campaigns?
Analytic analysis are great and should be used in everything, but the problem is getting people to use analytics correctly. That is the biggest problem people use them incorrectly or abuse them and ruin it for everyone. The use of analytics need to be taught more readily and should be used only if you company can use them responsibly as to not mess up their data for everyone else.
ReplyDeleteI agree, a lot firms use analytics to their own advantage and manipulate numbers in their favor by reporting what they want.
Delete-Pam Burr
Great article.
ReplyDeleteTo address your points:
1 - I'm actually shocked by the fact she presents that 62.7% of companies surveyed do not use marketing analytics in their decision making process. It's really astounding since there are so many free tools like Google Analytics to at track visitors and conversions (however you define them on your site).
Google Analytics, for example, gives so much data that sometimes it can be hard to decide which metrics to use and which are most business relevant for assessing success. Like the article said, there is often little to no training for managers either.
2-Yes, with the increase in focus on analytics, I see that these quantitative skills will be in more demand. I think that measuring success has become at the forefront of management since the 2008 financial melt-down in the US. Companies have had massive lay-offs and they don't want to fork over cash to any projects, let alone a marketing project that doesn't have a success metric (or KPI - key performance indicator) tied to it.