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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Marketing

01/09
2014

Marketers: Check Your Big Data Blind Spots

Marketers today are feeling the heat to show results while cutting costs, but they have a new weapon to drive results and demonstrate value to senior management – big data.

Marketingsign 280x280 Marketers: Check Your Big Data Blind SpotsThere is more information generated by and about consumers today than ever before, but with that comes an increasing risk of marketers making incorrect measurements or misinterpreting data analysis.

That’s the assertion of a trio of analysts from McKinsey & Co., in a recent Harvard Business Review blog post.

Marketers can increase ROI by 15% to 20% now that analytics techniques are available to corral big data and make marketing a more precise science, according to the post.

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12/04
2013

Boosting ROI with Data Analysis

When it comes to big data and data analysis for marketing, business leaders want to understand the return on investment that accompanies the use of the tools needed to generate actionable insight from multiple and disparate data sources.

shutterstock 107966804 300x300 Boosting ROI with Data AnalysisTo that end, McKinsey & Co. analysts took a sample among the 400 times they have worked on marketing ROI with clients and found that 15% to 20% of marketing budgets could be invested in other activities or returned to the bottom line without losing marketing ROI.

Based on a rough estimate of $1 trillion annual global marketing spend, $200 billion could be put to better use by using analytics, according to McKinsey principal Jonathan Gordon.

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11/14
2013

Acting on Mobile Customer Insights via Big Data Analytics

Without question, consumers’ extensive use of smartphones, tablets, and other mobile devices is creating rich opportunities for marketers and other corporate decision makers to identify customers’ locations, interests, and behaviors to better target them with offers and messaging.

shutterstock 125411303 276x300 Acting on Mobile Customer Insights via Big Data AnalyticsHistorically, it’s been difficult for marketers to quantify offline customer conversions (e.g., attracting someone to purchase a product following a magazine or billboard advertisement).

However, technological advances have led to innovation in tracking consumers in mobile and other digital channels.

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11/12
2013

Data Analysis to Uncover the Black Friday Shopper

The sad truth is that Turkey Thursday may one day put Black Friday out of business. But still, understanding Black Friday shoppers and what drives them to venture out even before the roosters crow can help retailers offer the deals that will fill their stores and their coffers.

shutterstock 118648831 300x250 Data Analysis to Uncover the Black Friday ShopperWhen they hit the malls or the big box stores on Black Friday – or even Thanksgiving Day – these shoppers are looking for the best deals on the best products for the season.

On this day, however, it’s not about being loyal to any brand. If I want a 60-inch, hi-def, flat screen TV, I’m not necessarily looking for my favorite brand.

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09/30
2013

Marketers: Ignore Big Data at Your Own Peril

Despite having more data at hand than ever to improve company performance, marketers are not taking full advantage of the potential for data analysis to allow them to tie the effects of their initiatives back to overarching corporate strategy.

shutterstock 144829507 300x254 Marketers: Ignore Big Data at Your Own PerilMarketers cannot continue to rely on metrics like brand awareness, trade show scans or Web site traffic to demonstrate the value they provide to the organization, says Laura Ramos, an analyst at Forrester Research Inc., commenting on a Forrester survey.

“Those who do will be shown to the door as CEOs and CFOs raise the bar on accountability – and getting the right attention here is a substantial challenge when so few execs rely on marketing data in their decision making,” she adds.

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09/19
2013

Data Analysis to Move Marketing Toward ‘On Demand’

Marketing has been turned on its head in the past few years, given the immense power and reach that digital provides. But, digital marketing soon will be entering another evolution, driven by increasing consumer demands to be “always on,” and powered by the big data that makes campaigns highly relevant.

shutterstock 139613771 300x244 Data Analysis to Move Marketing Toward On DemandThat’s according to new research from McKinsey & Co. that notes that mobile connectivity, the evolution of the Internet of Things, and advances in big data analytics to gain insights from big data are creating a new era in digital marketing.

McKinsey describes the current landscape as one where consumers want to interact anywhere and anytime. But, in the future, they will:

  • Want to do new things as disparate kinds of information are linked more effectively for them
  • Expect all data stored about them to be targeted to their needs or used to personalize their experiences
  • Demand that all interactions be simple

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08/28
2013

Data Analysis to Demonstrate Marketing Accountability

Accountability has been the most important issue facing marketing executives this year, according to the Association of National Advertisers (ANA).

shutterstock 101310604 300x200 Data Analysis to Demonstrate Marketing Accountability In fact, accountability and measurement have remained consistent concerns since 2006, even though their specific positions in the rankings have shifted over time, the ANA notes.

Many CMOs and marketing leaders are under tremendous pressure to use big data analytics to generate solid returns from marketing initiatives.

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07/29
2013

Big Data for Sales and Marketing – It’s the New Internet

Big data offers sales and marketing teams the largest new opportunity since the advent of the Internet almost 20 years ago.

internet Big Data for Sales and Marketing – Its the New InternetThat’s what three McKinsey & Co. sales and marketing partners claim in a recent blog post.

The potential of leveraging data analysis looms large for many companies to boost sales and extend marketing reach. But the best way to take advantage of opportunities is still confounding many.

“Organizations today face overwhelming amounts of data, organizational complexity, rapidly changing customer behaviors, and increased competitive pressures,” according to the post. “New technologies as well as rapidly proliferating channels and platforms have created a massively complex environment.”

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07/08
2013

Data Analysis to Fine-Tune Marketing

Marketers are emerging from the worries associated with the fiscal cliff to increasingly embrace the value of data analysis to hone efforts to target customers for goods and services.

FE PR 091116 Gettinghired finetune 300x199 Data Analysis to Fine Tune MarketingIn fact, nearly two-fifths (38.7%) of marketers and suppliers say they spent more on data-driven marketing in the first quarter of 2013 than they did in the fourth quarter of last year, according to the Direct Marketing Association’s (DMA) Quarterly Business Review survey.

While 42% have held spending at the same level this quarter compared to last, more than 70% agree that data-driven marketing is poised for growth.

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05/30
2013

From the Marketing Trenches: Data Analysis Success Stories

While many organizations are interested in the potential of big data and are beginning to shape their data analysis strategies, some of the world’s biggest are well on their way to becoming data-driven to connect with customers and boost revenue.

key success 150x150 From the Marketing Trenches: Data Analysis Success StoriesFor example, companies like Macy’s, JPMorgan Chase and Starwood Hotels and Resorts are incorporating data-driven marketing into their efforts, according to Data Marketing News.

The biggest impact of data analysis on the retailer’s marketing efforts is that the company now measure success in terms of the response of real people over time, notes Julie Bernard, Macy’s group vice president of customer centricity, direct marketing and loyalty.

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