Marketing analytics is the process of collecting, measuring, and analyzing data related to marketing activities and their impact on business performance. It is a powerful tool that empowers businesses to make data-driven decisions, refine marketing strategies, and optimize resource allocation. By dissecting key metrics, such as conversion rates, customer acquisition costs, and customer lifetime value, marketing analytics provides valuable insights into the effectiveness of campaigns, customer behavior, and market trends. This data-driven approach not only helps businesses refine their marketing efforts but also enables them to create more personalized and efficient customer experiences, ultimately leading to improved ROI and a competitive edge in today's data-driven marketing landscape.
2. DEFINITION OF
MARKETING ANALYTICS
Marketing Analytics is the systematic process of
collecting, analyzing, and interpreting data
related to marketing activities and consumer
behavior to gain valuable insights and make
informed decisions. It involves the use of data-
driven techniques and tools to understand the
performance of marketing campaigns, assess
customer preferences, and identify trends and
patterns in the market.
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3. MARKETING ANALYTICS
KEY COMPONENTS OF
• Data Collection: Gathering relevant data
from various sources, including websites,
social media, email campaigns, and
customer interactions.
• Data Analysis: Using tools and techniques
to process and analyze the collected data.
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• Data Visualization: Presenting insights
through charts, graphs, and dashboards for
easy comprehension.
• Data Visualization: Presenting insights
through charts, graphs, and dashboards for
easy comprehension.
