INSTITUTE OF MANAGEMENT STUDY

NAME- INDRANIL PANJA

CLASS- MBA
SEC-B
SUBJECT-APPLICATION OF ANALYTICS IN
BUSINESS
SUBJECT CODE- BA302
ROLL NO-33300921068
INTRODUCTION
Marketing analytics is the study of data to evaluate the
performance of a marketing activity. By applying
technology and analytical processes to marketing-
related data, businesses can understand what drives
consumer actions, refine their marketing campaigns
and optimize their return on investment.
CURRENT SCENARIO
As digital emerged as the predominant channel
leveraged by marketers, the use of digital attribution
models like multi-touch attribution offered marketers
the means of quickly understanding the touchpoints
and channels that played the most significant roles in
driving revenue. Subsequently, this allowed marketers
to optimize their campaigns by prioritizing the channels
that drove the highest engagement.
However, this method is flawed. Today’s revenue isn’t
driven by digital marketing efforts alone, but instead, a
combination of online media, offline media, and
external factors that all influence consumers and
prompt them to make a buying decision. In order to
understand marketing efforts across these channels
and optimize them to meet the expectations of today’s
consumers, marketers need to do more. Specifically,
the need to adopt a unified marketing measurement
strategy.
FUTURE PROSPECT
In the past two posts of this three-part series, we’ve
explored the history of marketing analytics, diving into
the marketing landscape before and after the digital
revolution. We have seen that the capabilities of
marketers throughout the years have drastically
changed .This growing complexity in marketing has
also changed consumer expectations and how they
choose whether or not to engage with a brand.These
changes signal a need to adapt through enhanced
analytics that go beyond past models. To attain these
analytics and effectively engage consumers across
today’s complex marketing mix, marketers need to
understand the modern marketing landscape, as well
as the consumer expectations that influence it.
BIBLIOGRAPHY:
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THE FOLLOWING-
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