Marketing Analytics and

Marketing Research
CONTENT
Marketing Research
Marketing Analytics
Difference between Marketing Research and Marketing Analytics
Adoption and Application of Marketing Analytics by Marketers
Marketing Analytics and Academia
Marketing Analytics in Business Intelligence
Process of Marketing Analytics
 Section I:
Marketing
Research and
Marketing
Analytics
Marketing Research
Market research is the process of determining the viability of a new service
or product through research conducted directly with potential customers.
Marketing research is the function that links the consumer, customer, and
public to the marketer through information.
It specifies the information required to address the issues, designs the
method for collecting information, manages and implements the data
collection process, analyzes the results, and communicates the findings and
their implications.
The market research process refers to feedback obtained directly from the
consumer/customer and has been deployed to obtain increased insights.
Marketing Research
(Continued…)
The market research process refers to feedback obtained directly from
the customer and has been applied to the system to obtain better
productivity and fine tuning strategy options.
It is used to solve the core marketing related concerns like brand
management, product development and consumer perception
It includes Data Collection through Qualitative and Quantitative
studies
Data Collected helps in finding the consumer behavior which later on
helps in fine tuning strategy options.
Marketing Analytics
Marketing analytics involves the technologies and processes CMOs and
marketers use to evaluate the success and value of their efforts.
Marketing analytics uses various metrics to measure the performance of
marketing initiatives.
Marketing analytics essentially include a set of statistical and mathematical
modeling and machine learning techniques and tools.
These tools are used to analyze various types of data in huge amount and to
drive transformative decisions and support sustained successful business
practices in an organization.
Marketing Analytics
(Continued…)
Marketing analytics has gained acceptance in companies as
technology now makes it possible for marketers to leverage data from
large databases.
Once data collected, this data needs to be cleaned, verified, and turned
into useable information.
The researcher then analyzes the information, interprets the findings,
and converts the findings into intelligence.
Such intelligence is known as Business Intelligence which helps in
taking Strategic decisions.
 Difference between Marketing
Research & Marketing Analytics
Marketing Research Marketing Analytics

Data collection and analyses is part of market research Technology-led data collection and analyses considered as
marketing analytics (i.e., analysis enabled by technology).

Involves only collecting the data that answers specific Assembles massive amounts of data which tends to be
questions. impersonal and multi-faceted.

Findings are usually short-term, making it a more ongoing Used to predict outcomes based on a market’s size,
process for businesses to stay updated. competitor landscape, feasibility of sales channels, social
factors, etc.

Involves collating both quantitative and qualitative data. Focuses on quantitative data
 Section II:
Applications of
Marketing
Analytics
Adoption and Application of
Marketing Analytics by Marketers
Despite the availability of tools, marketers have been slow in fully adopting the
marketing analytics component of the research process.
Many marketers have never received any training in data collection and analysis, since
their core job is related to branding and Promotion. Due to which MIS & IT came into
existence.
Therefore, it is mandatory for marketers to take the initiatives for the core functions
related to Analytics.
The major Application of Marketing Analytics is that Information is collected from the
Customer and appropriate analysis have to be undertaken to draw pertinent insights
about the consumer.
Another important application of marketing analytics is to predict future behavior.
Marketing Analytics and
Academia
Education related to marketing should be modified and should include analytical part.
The academics training in Marketing deals with the non quantitative data but not in
quantitative data.
Due to such reasons, Marketer often struggles to establish return of investment (ROI) for
many marketing-related functions.
Without specific metrics, it is difficult to track and account for the efficacy and effectiveness
of marketing investments.
Traditionally, functions of marketing have not used precise/sophisticated measures to track
consumer behavior. Thus, it became essential for marketers to focus on analytical part.
Marketing Analytics in Business
Intelligence
• Applying marketing analytics solutions is to obtain business intelligence
is to bring together tools and technique which helps in improving
Business Processes.
• Several categories of analytical applications may be identified in the
context of marketing analytics:
 Descriptive analytics: These functions do not predict a target value, but focus
more on the intrinsic structure. Such analyses address the question of what
happened
 Exploratory analytics: Include undertaking analyses of unstructured data. Such
analyses address the questions of what happened, as well as why it happened.
Business Intelligence (Continued)
….
 Predictive analytics: Attempts to divine unknown future events or actions based on data
mining, statistics. Such analyses address the question of what is likely to happen
 Prescriptive analytics: Looks at what should be done – and is, therefore, prescriptive in
nature. Such analyses address the question of what should/ought to happen.
• There is a need to understand that questions asked are right so that the data
gathered and analyzed are also right in order to obtain pertinent insights.
• Pertinent analysis starts with framing the problem correctly. This includes
assessing the data correctly, developing an analysis plan, and taking into
account the various technical and practical considerations regarding the nature
of data, data collection, and data analysis.
Process of Marketing Analytics

 
Fig: Processes followed in a typical marketing analytics project
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