LONDON--(BUSINESS WIRE)--With the advent of big data and advanced technology, organizations are increasingly realizing the benefits that various analytical tools and approaches provides them. Because of this, many companies are taking advantage of big data analytics to gain an edge over the competition.
In its latest blog titled, ‘Deriving Actionable Insights with Advanced Marketing Analytics’, global analytics and advisory firm Quantzig evaluates some of the ways organizations are using marketing analytics to devise prudent strategies and ensure proper management of their customers.
Quantzig notes that analytics can, “Drive growth opportunities, increase the marketing return on investment (MROI), and enable the organizations to make better decisions. These marketing analytics tools can assist organizations in understanding changing consumer habits and buying behavior.”
The introduction of advanced and sophisticated marketing analytics tools will help the marketer to measure proposals based on MROI, marketing effectiveness and payback period. It also provides a base to measure performance keeping in mind spend management, various media channels and past decisions.
For more insights, get in touch with Quantzig’s analytics solutions experts
An organization cannot devise an analytics strategy without weighing the pros and cons of each tool and determining which marketing analytics approach is the best fit for their business strategy. According to Quantzig, marketing analytics includes three approaches that have gained momentum over the recent years:
- Marketing Mix Modeling (MMM): Marketing Mix Modeling (MMM) is a statistical model that leverages past marketing data and present trends to predict the impact of future marketing activities.
- Campaign Analytics: Campaign analytics helps measure each marketing campaign and touchpoint through various metrics such as customers reached, customer engagements and the return on investment.
- Attribution Modeling: Attribution modeling is a method to determine and identify the media that drives sales and conversions.
- Read more: https://www.quantzig.com/blog/deriving-actionable-insights-advanced-marketing-analytics
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.