November, 2021 - Marketing Analytics

Types of Marketing Analytics

Analytics in business is the way in which a business or marketer can use statistical methods to gain insights into strategic marketing methods and campaigns. This helps to maximise brand awareness and profits. There are 3 main types of marketing

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Top 4 Marketing Analytics Tools

This article provides information on some of the best marketing analytics tools. Some of these tools can be downloaded and used for free and some will have cost to it but are worth it. Being a marketer demands analytics tools to manage and measure the performance of any marketing campaign. These tools can gather data from a variety of channels and report all the findings. Talented This is one of the most powerful and most used ETL tools available today. Talented allows the user to manage all the steps which need to be taken in the ETL process and aims to create accessible, compliant, and clean data for the user. It is one of the tools which can deliver a complete and clean data collection whenever its needed and maintains the quality of the data collection. Power BI Power BI was named as the leader for the 13th consecutive year in the Gartner 2020 Magic Quadrant and was created by Microsoft for business analytics. The tool provides interactive visualisations and makes self-service business intelligence easy. End-users can use the dashboards and reports by themselves on the data collections. The tool comes with features to help the users analyse the data collected and protect the data on most office platforms. Splunk Splunk can be used to search, analyse, and visualise the data collected from applications. It was named by Gartner as a visionary in their 2020 Magic Quadrant. Some of their products have even evolved into other fields such as IT and security. The tool has an aim to bring data to every part of an organisation or business by helping teams to use the tool and prevent and predict certain problems. QlikView This is known as a self-service business intelligence and data visualisation analytics tool. Its main aim is to accelerate business value through data by adding features to help with data integration, analytics, and literacy. Recent updates to the tool have helped organisations to handle and notify users of potential issues and provide assistance to users to analyse data even further. Using any of these analytics tools can provide the best assistance in gathering data and analysing the data correctly.
Types of Marketing Analytics

Analytics in business is the way in which a business or marketer can use statistical methods to gain insights into strategic marketing methods and campaigns. This helps to maximise brand awareness and profits. There are 3 main types of marketing analytics for businesses and marketers. Predictive Marketing Analytics Predictive analytics is an advanced method and more complicated than descriptive analytics. It uses probabilities to make assessments to understand what could happen in the future with marketing and branding. The predictions from data collected with predictive marketing analytics can be used to understand problems and see which opportunities there are for growth. It uses statistics and machine learning techniques to see the likelihood of future outcomes based on the historical data of visitors to their websites. Prescriptive Marketing Analytics Prescriptive marketing analytics help companies to see which options in marketing are the best way forward. It borrows heavily from maths and computer science and uses statistical methods in technology to further understand a company’s client base. It’s relatable to predictive and descriptive marketing analytics except that it has an emphasis on insights instead of data monitoring. It’s done by gathering data from a variety of descriptive sources. It applies these sources’ data to making the right decisions in marketing. Descriptive Marketing Analytics Descriptive analytics act as a way to analyse historical data by using two key methods. The methods include data aggregation and data mining. These methods are used to uncover some of the latest trends and changes in patterns. Descriptive analytics is often displayed using visual data representations in charts and give insightful information. It forms the core of most data reportings in any business module. It’s the perfect method to get insights into new trends and patterns.

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