Unit 1: Introduction to

Marketing Analytics
Dr.Durga wati Kushwaha
Assistant Professor
 Introduction
• Marketing analytics is the study of data garnered through marketing campaigns in order to
discern patterns between such things as how a campaign contributed to conversions, consumer
behavior, regional preferences, creative preferences and much more.

• The goal of marketing analytics as a practice is to use these patterns and findings to optimize
future campaigns based on what was successful.

• This analysis allows marketers to achieve higher ROI on marketing investments by

understanding what is successful in driving either conversions, brand awareness, or
both. Analytics also ensures that consumers see a greater number of targeted, personalized ads
that speak to their specific needs and interests, rather than mass communications that tend to
annoy.

• Marketing data can be analysed using a variety of methods and models depending on the KPIs
being measured
 Analytics Model & Methods
Some popular analytics models and methods include:
• Media Mix Models (MMM): Attribution models that look at aggregate
data over a long period of time.
• Multi-Touch Attribution (MTA): Attribution models that provide
person-level data from across the buyer’s journey.
• Unified Marketing Measurement (UMM): A form of measurement
that integrates various attribution models including MMM and MTA
into comprehensive engagement metrics.
How Organizations Use Marketing Analytics ?
• Product Intelligence
• Customer Trends and Preferences
• Product Development Trends
• Customer Support
• Messaging and Media
• Competition
• Predict Future Results
 Challenges of Analysing Data
• Data Quantity
• Data Quality
• Lack of Data Scientists
• Selecting Attribution Models
• Correlating Data
 Marketing Analytics Software
• Marketing analytics software combats these challenges by collecting, organizing and
correlating valuable data quickly, allowing marketers to make real-time campaign
optimizations.

• Modern marketing platforms are valuable for the speed at which they can store and
process massive amounts of data.

• Additionally, many platforms now leverage unified marketing measurement, to

normalize and aggregate marketing data from across various channels and campaigns,
simplifying analysis.

• Finally, advanced analytics platforms go beyond measuring consumer engagements to

offer insights into brand equity and how certain audience segments react to creative
elements.
 Contd…

key features and capabilities of a marketing analytics software:

• Real-Time Analytics and Insights

• Brand Measurement Capabilities
• Granular, Person-Level Data
• The Ability to Correlate Online and Offline Attribution Metrics
• Contextualized Customer and Market Insights
• Annual Media Plan Recommendations
 Skills That Marketing Analytics Managers Need
• Conduct Quality Analyses
• Make Optimization Recommendations
• Understand Consumer and MarTech (Marketing Technology) Trends
• Work with Analytics Tools
• Collaborate with Stakeholders
 Advantages of Marketing Analytics

• Gaining full view of customers across channels

• Becoming More Effective & Proactive
• Personalising customer & Market Engagements
• Visualising success across enterprises
• Treating data as a strategic asset
 Disadvantages of Marketing Analytics
• Misidentifying Market Needs
• Evaluating Market Growth without Market share
• Market Segmentation vs target market
• Improper Interpretation of Data
Data & Data sources
 Introduction
• Data is a raw , unanalysed , unorganised, unrelated material which is used to
derive information.

• Data is distinguishable information arranged in a particular format.

• It can adopt multiple forms like numbers , letters, set of characters, image,
graphic etc.

• Information is perceivable, interpreted as a message in a particular manner

which provides meaning to data.

• In common parlance, both the terms are used interchangeably

 Difference between Data & Information
Basis for comparison Data Information
Meaning Data means raw facts Facts, concerning a particular
gathered about someone or event or subject, which are
something, which is bare refined by processing is called
and random information.

What is it? It is just text and numbers. It is refined data

Dependency Does not depend on Without data, information
information. cannot be processed
Based on Records and Observations Analysis
Form Unorganized Organized
Useful May or may not be useful. Always
Specific No Yes
Example 5000 is data 5000 Feet is information
 Contd…

Information = Data + Meaning

Contd…
 Quantitative Data vs Qualitative Data
• Quantitative data is information that you can measure. It’s numbers –something you can
count. Because it’s countable it can be reliable evidence. Examples include:
• How many people took part?
• How much did it cost?
• How long did it run for?
• Average attendance at each programme session?

 Qualitative data is information about qualities, you can’t count it. That is, it’s information
about how people feel about something. Examples include:
 Sharing what people like about a programme.
 How they think it could be improved.
 What difference it has made to their lives.
 Whether they would recommend the programme to others.
 Sources & Examples of quantitative and qualitative data
S.No. QUANTITATIVE DATA SOURCES QUALITATIVE DATA SOURCES
1. Programme information – numbers involved, Getting feedback on a programme – weekly check-
what happens when, who it is for, cost, ins, surveys, groups discussions, before-and-after
participation levels. programme questions.

2. Statistics and statutory data. Stories of participants’ experience and impact.

3. Environmental monitoring such as bird Observation of a programme.
counts, seeds planted and fish stocks.
4. Structured surveys involving multiple-choice, Document review such as literature reviews.
rating scales or other closed questions.
5. Control groups – comparing one group that Interviews involving open-ended questions with
experienced a programme with another backers, service providers and participants.
similar group that did not.

6. Recording transactions, such as website hits. Visual methods such as photos, DVDs and art or
participants’ creative works.
 Data Sources

both must be:

Data that were Relevant
collected for another Data gathered for
purpose, and already a specific purpose
Accurate
exist somewhere or for a specific
research project
(+)Obtained more quikcly Current
/ at lower cost
Impartial
(-)Might not be
usable data.

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 Market data sources
• Publically available data sources
• Syndicated Marketing Research data
• Other useful sources of marketing data
Selection of appropriate Method for data collection

• Complexity of topic / issue

• Types of data
• Non- response
• Respondents Preferences
• Resources available
• Sampling Frame & Population
 Precautions in collection of data
Primary Data Secondary Data

• Friendly attitude • Objective of study

• Appropriate use of words • Reputation of Data sources
• Avoiding objectionable or non • Context of Data
suitable questions • Time of Information
• Confidentiality & Privacy of • Methodology Implemented
Respondents
• Transparency
 Primary Data
• Primary data is information collected through original or first-hand research.
• Characteristics:
Collected for first time through survey or any other method
Volume of data
Considered Prospective in Nature
Specific Research objectives
• Collection of Primary Data
Survey
Interview
Observation
Experimentation
Warranty Cards
Auditing
Simulation
Projective Techniques
Depth Interview/ focused Group
Advantages & Disadvantages of Primary Data
Advantages Disadvantages

• Reliability • Costly affair

• Variety of Techniques • Time consuming
• Wide coverage • Infeasible sometime
• Control over Process • Unwillingness of Respondents
• Sole ownership of Information • Huge Quantity of data
 Secondary Data
• Secondary data is information which has been collected in the past by someone
else. For example, researching the internet, newspaper articles and company
report.
• Characteristics :
Available & Adequate
Cheaper
Less time consuming
More accurate Data
Helps in defining Research Problem & Generating Hypothesis
Helps in defining the population
 Sources of Secondary Data
Internal Sources External Sources
• Libraries
• Sales Analysis • Literature
• Periodicals
• Invoice Analysis • References & Bibliography
• Financial Data • Census & Registration data
• Transportation Data • Trade Associations
• Government Departments
• Storage Data
• Private sources
• Commercial Research Institutions
• International Organisation
 Advantages & Disadvantages of Secondary Data
Advantages Disadvantages
• Economic
• Accuracy
• Less Time consuming
• Relevance
• Quality
• Obsolete Data
• Measuring Instruments not
required • Non Disclosure of findings
• Availability • Difficulty in tracing out sources
• Bases for comparison
• Useful in Exploratory studies
• Generates feasible alternatives
Issues to be considered for collection of secondary data

Suitability

Adequacy Issues Reliability

Consistency
 Market Sizing
• It is process of estimating potential of a market.
• It is a component of strategic marketing planning .
• Provides answer to two questions:
1. Where we are going with ?
2. How we are going to do it ?
Categories of Market sizing
 Application of market sizing
• Market Trends
• Sales Forecast
• Sales force sizing
• Distribution channels
• Market segments
• Market share
• Adoption rate
• Life Cycle
• Market Investment
 Market Sizing: Stakeholders

Marketing Departments Channel Partners

- Investigate new markets Stakeholders - Number of units to move in channel
- Calculate market share for
Market Sizing
Operations Departments Financial Services
- Products manufacturing: how many units to make -VC: Large and growing market
- Service delivery: how many people to hire -- $500M - $1B
Approaches to Market sizing
Contd…