Marketing Analysis : The Marketing Field Essay

Taking careers such as web design and analytics, there are numerous studies that have been conducted about how fortune 500 companies invest in web analytics (Chaffey, D., & Patron, M. (2012)). Despite these skyrocketed investments on web analytics, they still find it difficult to make meaningful

The data analytic process is one in which a large amount of information is collected using software specifically geared towards collecting, identifying and storing information for use by the company. The information is gleaned from different forums, with social media being the most rich and useful. The information is then quickly sorted and organized for use by the collecting agency (Turban, Volonino, Wood, & Sipior, 2002, p. 6). The use of data analytics really took flight in 2010 when different companies offered software that enabled a company to implement their own data analytics. This led to better marketing campaigns, improved customer relations and it gave companies using the software a bigger advantage over their competitors (Savitz, 2012).

For many years, advertisers had tried to find out an efficient way to understand their target markets and the customers. Before the age of information system, it was difficult to track their customers efficiently, and therefore they were like swimming in the dark when they dealt with the customers. They could only make the very broad target customers and send them advertisements through newspapers, television, magazines, or other media. However, this traditional method of sending advertisements to everybody that the companies could reach was not working well, since it ignored the demands of the receivers. However, along with data mining, it brings a business revolution to the whole world.

In today’s companies, the analytics software plays the important role and guides the future activities to a great extent.

Evolent has a commitment in being able to compete on analytics as this is one of the key drivers of our business model. Thus, senior management is committed to have a consistent and global approach to analytics. There is a deep-rooted drive to collect data to continually build on information and how this affects the outcomes that can be obtained. The ability to predict what outcomes are needed based on captured historically and current data is essentially for the organization to contain costs and differentiate itself from the industry.

Companies recognize that acquiring a new customer can cost thousands of dollars. Therefore, to optimize their marketing spend, businesses are searching for answers within analytics to drive their customer acquisition strategies.

In Competing on Analytics by Thomas Davenport and Jeanne Harris, the pillars of analytic completion are stated as: “(1) analytics supported a strategic, distinctive capability; (2) the approach to and management of analytics was enterprise-wide; (3) senior management was committed to the use of analytics; and (4) the company made a significant strategic bet on analytics-based competition” (Davenport & Harris, 2007, pp. 511-512) . This section will describe Aramark’s position within these pillars.

It was agreed that analytics needed to be a standalone campaign. Whereas, ‘strengthening and defending the core’ could be communicated in several different approached, which is where experience, expertise and values were formed.

For years, companies have been relying on market research, data tracking, and data warehousing to help create marketing strategies. Marketing managers rely on this data to spot opportunities and problems and try to stay ahead of the competition.

An Enterprise-Level Approach to and Management of Analytics is an area that Nexteer needs to

Analytics is using data, performing analyses and adjusting business processes and goals with that information (Davenport and Harris, 2007). Unfortunately, Lighthouse is not creating a competitive advantage with analytics at this time. The data is not available and the emphasis on analytics is not present.

to 4 on the Pillars of Analytics scale (Davenport & Harris 36), Hero has some room for improvement based on acceptance by the entire resource group. At this point, 20% of the Hero team can dynamically use the analytics we currently offer. For example, 2015 was the first year that we, as an operations and sales team, had a dynamic forecasting plan. We took the top customers making up 80% of our annual revenue and projected out their volume by SKU, by month and kept a rolling 12 months of inventory planning based on each customer’s growth objectives. Putting this plan together resulted in an out of stock liability improvement of 15% and actual sales were within 1% of budget projections. This project, a huge jump in our planning procedures, was completely facilitated by three people in our organization that employs over fifty people. The issues above directly tie in to the second pillar of Enterprise Wide Analytics. Although all departments have access to dynamic analytical systems, most have zero interest in utilizing it. There have been several missed opportunities for growth on analytical competition from the Operations side of the business. However, with the success of the 2015 and 2016 forecasting models, the senior managers are working to align efforts and optimize standard operating procedures that rely heavily on analytical tools. This proven performance is slowly raising the bar for Senior Management commitment. Although there is work to be done in respect to each of

My key responsibilities at Genesis Software Solutions Inc., as marketing analyst were to analyze the pros and cons of launching a new marketing campaign proposed by the company. To identify market opportunities and company’s needs I first met with the subject matter experts and understood all the requirements. With the knowledge transferred from the subject matter experts, I evaluated the scope of market penetration for the company. I also analyzed Return on investment. For this, company uses google analytics tools, to look at the market metrics and scope analysis. My internship at the company helped me to get familiarized with the usage of all these tools and how to generate and understand reports.

The upward trajectory of analytics in the recent years is proof of the overwhelming support for the notion that the application of science to the selection, management and alignment of people brings about tremendous return. (Bersin) (Kapoor)

The era of web analytics has evolved over many years giving control to companies and