Widespread Use In: Best-of-breed marketing
organizations
World-class marketing organizations have always
maintained their focus on the customer. But in a dynamic, turbulent
marketplace, how can marketing organizations maintain an edge?
Analytics -
Extracting Knowledge from a Complex World
Using state-of-the-art analytic techniques, marketing
organizations can now:
- Develop
strikingly accurate customer profiles - predict
customer behavior to new products; determine buying patterns by
product category or demographic characteristics; or establish which
customers require discounts before purchase;
- Determine customer
perception
- find out how customers perceive, evaluate and compare your
products to competitors, isolating groups of customers with distinct
tastes;
- Increase your marketing
ROI -
armed with the knowledge provided by predictive modeling and pattern
recognition of previous campaigns, design effective marketing and
advertising campaigns to acquire new customers, or identify
opportunities for cross-selling and up-selling your most loyal and
profitable ones.
Analytics
professionals in this industry conduct analysis to develop promotional
strategies, and identify appropriate metrics to measure the success of
critical programs. Their work directly contributes to the successful
development and evaluation of marketing activities, product development,
customer and competitive intelligence, pricing decisions, and sales force
organization.
Although the marketplace is increasingly complex,
advances in analytic techniques and technologies makes it possible for
marketing pros to turn previously dormant data into actionable knowledge.
