Market Planning Using Data Analytics
As the number of ways to communicate a marketing message have expanded, the
ability to measure the effectiveness of a particular message has become more
challenging. Without an accurate method for assessing the relationship
between marketing expenses and sales, marketers are finding that they are
hard pressed to optimize evolving marketing plans and to provide concise
answers to internal budget holders regarding marketing activity ROI. Data
analytics and visualization tools are an effective way to attach contextual meaning to
market response metrics, and foster the meaningful interpretation of
promotional effectiveness.
Market planning using data analytics
provides marketing teams with a fact-based quantitative tool to measure
campaign progress against plan while creating a standardized communication
platform for information sharing across team and department personnel.
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