Digital Marketing – The most important and critical success factor of any business of today is Data. Social media sites, IoT devices, financial institutions, retail shops etc are working as data generation factories. The data generated by these factories is used for cross-selling, improving user experience, increasing customers buying rate. The analysis is also used for driving and creating new products and use cases. The actions from big data analytics can be business transformative. This is chapter 1 of 6 on “The Role Of Data In Digital Marketing Analytics” by AILabPage.
Chapter-1 – Data Analytics Basics
Digital marketing analytics is widely used in industry to make business decisions, the theories driven out of these analyses are of great importance. By using various big data analytics theories, marketers measure & drive business metrics. Traffic to their respective sites generate leads, create product awareness and influence customers.
Understanding the Importance of Digital Marketing Analytics
Tools like hot-jar and google analytics etc. interpret and track customer behaviour. The data out of these tools paint a beautiful picture of business insights. The insights not only help for making decisions but also able to predict and take actions on behalf.
A million dollar question “Why digital marketing analytics matter to any business” has been answered and demonstrated well by facebook and twitter etc. The golden key to success is to understand the role of big data in digital marketing.
Three Golden D’s Of Digital Marketing
The digital transformation of any modern business requires quality data, not just any data. The three key success factors for any good business which helps it to grow with correct digital marketing drive are
- Quality of Data collected.
- Data Scientists.
- Tools to visualise, analyse and summarise the data.
So if Data is new fuel of today time then we must accept data scientists as oil refineries and data tools as important ingredients which help to refine and produce desired results. Cognitive Analytics provides a 360-degree view of them to make the correct decision and the right time. The out of Big Data Analytics paints an excellent picture in the below categories.
- Descriptive Analytics
- Diagnostic Analytics
- Predictive Analytics
- Prescriptive Analytics
Points to Note:
All credits if any remains on the original contributor only. We have covered all basics around data analytics for digital marketing analytics chapter-1. In the next upcoming chapters will talk about implementation, usage and practice experience for markets.
Books + Other readings Referred
- Research through open internet, news portals, white papers and imparted knowledge via live conferences & lectures.
- Lab and hands-on experience of @AILabPage (Self-taught learners group) members.
Feedback & Further Question
Do you have any questions about AI, Machine Learning, Data Science or Big Data Analytics? Leave a question in a comment or ask via email. Will try best to answer it.
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