We’ve all heard the term “Big data,” a reference to the vast amounts of information now collected by nearly every
industry and sector of the economy. but the real challenge is making sense of this torrent of data to extract customer
insight, evaluate markets and customize products and services. And that’s where marketing analytics comes in.
Yesterday’s analytics tools—drawing on basic demographic data like age and sex, postal codes and previous purchase
history—are no longer sufficient to harness big Data. Now it takes a combination of advanced methodology, technology and
experience to unearth data nuggets that can be turned into customer insights. Welcome to the Age of big Analytics.
Big Analytics starts by addressing several key questions: What am I trying to understand? Which information assets
provide the answers? What methods are needed for the relevant analytics? What are the best tools to implement these
methods? And most important, how can we interpret the results properly and take action?
Today’s marketing analytics industry helps businesses and not-for-profits do amazing things. by integrating
customer data with external demographic, behaviour and media research, and vast amounts of digital and social data, we help clients better understand their consumers.
We can tell them whether their best customers live in a downtown condo, enjoy going to the theatre, drive an electric
car or worry about leaving a legacy for their children. With only a customer’s address, we can help a company determine
what products their customers like, which media they prefer, what messages resonate with them and whether an ad or a
tweet will reach them.
Granted, our industry faces challenges: of measurement, privacy and security. but with advanced data-driven analytics,
marketers can continually refine their campaigns, creating higher returns even while reducing costs. And through more
precise targeting, big Analytics can balance the marketer’s need for accurate data with the consumer’s desire for privacy.
This supplement highlights marketing analytics companies that seek to help organizations learn what customers want
now and predict what they’ll want in the future. It’s a big job. But we have the data, technology and experience to succeed.
And we’re constantly improving our toolkit—just what’s needed in the Age of big Analytics.
