In digital transformation era, having marketing analytics is important. It gives you the insight to make decision intelligently. Marketing analytics is a practice of measuring, analyzing marketing performance to maximize its effectiveness, and optimizing return on investment (ROI). Understanding marketing analytics allows marketers to be more efficient at their jobs. Further, these are several key components of marketing analytics that improve marketing performance, namely. Centralized Marketing DatabaseAnalytics require access to highly detailed marketing data. Marketers need to begin tracking this information, preferably in one place. Required information will include historical data around when marketing programs ran, what their attributes were, who they touched, how much they cost, and so on. Without this information, analytics are essentially worthless. Time Series AnalyticsMany marketing and sales solutions are operational and do not store historical information, requiring marketers who want to analyze their metrics for prior time periods to manually take data snapshots from Excel spreadsheets. However, time series analytics gives marketers a full picture of their performance trends over time. Powerful and Easy InsightsUser-friendly dashboards are required, marketers can explore data trends and gain insight into their programs without wasting time acquiring the expertise needed to maneuver the technology, build custom reports, and so forth. Just make sure your marketing automation solution offers tools that are both and powerful and simple to use. ConclusionTo sum up, by understanding these key components of marketing analytics above, it will be beneficial for employee to maximize their skills to find patterns in marketing data to increase actionable knowledge that can be used in marketing strategy to improve marketing performance in an efficient way, which also could improve organizational efficiency and productivity. Reference:Vaughan, P. (2021). An Introduction to INBOUND MARKETING ANALYTICS. A Publication of Hubspot.What Is Marketing Analytics? Definition and Examples | Mailchimp. (2021). Retrieved 31 August 2021, from https://mailchimp.com/marketing-glossary/marketing-analytics/What is Marketing Analytics? - Marketo. (2021). Retrieved 31 August 2021, from https://www.marketo.com/marketing-analytics/

Marketing analytics is a practice of measuring, analyzing marketing performance to maximize its effectiveness, and optimizing return on investment (ROI).

Insight

Dr. Agus Setiawan

3 Key Components of Marketing Analytics