Marketing Analytics - Explained
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All right what are marketing analytics?
Well marketing analytics are a
whatever business activity that we
engage in and in this case we're really
focusing on marketing activities so
it could have to do with our promotional
practices, it could have to do with
a change in price that we've decided to
try with our product,
anything that we do as marketers
makes up what we call business activity.
From that activity
we will generate data and what we do
in today's world as marketers is we
collect all that data
that's a key part of business in today's
is tracking data as much as we can
and within marketing there's a lot of
data available whether it's
sales, records, or loyalty program
information that we track on our
there's data being created all the time.
And then the other key element or the
last key element to our marketing
is we want to take a look at that data
and figure out are we doing well and
more importantly where are we doing well
where are we not and by that i mean not
just geographically but
in what elements of our business
activities are we succeeding
and on which ones are we falling behind.
And then lastly we want to try to
why are things going well or why are
so that we can make changes going
That's the key to marketing analytics.