The recent hype of marketing analytics has led to a large, rapid expansion in the field, but does it help or harm business? According a study published in the Harvard Business Review, applying marketing analytics to three areas yields an over 1% increase in profits. They listed three things companies can do to get more out of their analytics:
- Invest more time into activating insights rather than simply generating them.
- Hire analytics translators to decrease possibility of miscommunication or misunderstanding.
- Start analytics with only 1 to 2 new marketing activities to ensure focused and goal-achieving results.
Read Article Here: Quantifying the Impact of Marketing Analytics