Data Analytics - Insight to your data
What is Data Analytics?
Data analytics (DA) is the science of examining raw data with the purpose of drawing conclusions about that information. Data analytics is used in many industries to allow companies and organization to make better business decisions and in the sciences to verify or disprove existing models or theories. Data analytics is distinguished from data mining by the scope, purpose and focus of the analysis. Data miners sort through huge data sets using sophisticated software to identify undiscovered patterns and establish hidden relationships. Data analytics focuses on inference, the process of deriving a conclusion based solely on what is already known by the researcher.
How does Data Analytics apply in Marketing world ?
A general marketing team deals with a large variety of data on a consistent basis, including:
- Mailing lists
- Communication Channels
- Response Rates
- Historical conversion rates
- Customer/prospect segments
- Single view of customer
- Historical promotions and their effectiveness by channel and by customer segments
- Historical data on the number of campaigns/touchpoints to convert a customer
- Frequency of campaigns and choice of channel
- Social media impact and timing
- Historical Price to convert
All of these different pieces of data require a lot of time and energy from your marketing team, and this amount only increases as your business does.
The Data Analytics tools help interpret what data says in terms of where you stand or how you are doing with respect to a specific use case. The use case is set by you and we then use technologies to help you get all of the insights from the data.
© 2014 PROSPECTCLICK - A COMPITSS PRODUCT. ALL RIGHTS RESERVED