90% of sales and marketing professionals say analytics are essential to getting their job done. Yet 87% of marketers say data is their most underutilized asset. Clearly, there’s a disconnect. When it comes to data and analytics, the truth is Marketers are still getting up to speed.
Over the past 20-something years we’ve seen marketing software and all the data that comes with that software, explode. Marketers are working with an overwhelming amount of data and analyzing the process for analyzing that data has (historically) not been easy. In order for marketers to be able to truly understand their analytics, they first need to understand the basics.
Our guide, Demystifying Analytics for Marketers, goes over the foundation of marketing analytics from the different types of analytics to finding the why behind your metrics. Whether you’re new to marketing analytics or simply need a refresher, this guide is for you.
This guide is a great resource for anyone looking to build a foundation for marketing analytics. By downloading this guide you can explore the following areas of marketing analytics:
What is Marketing Analytics?
Marketing analytics refers to software run by marketing teams that analyzes big data to identify changes in metrics over time, and surfaces the contributing factors to that change, in order to improve the decisions marketers make.
Breaking Down the Four Types of Analytics
Descriptive Analytics – Answers the question: What is happening?
Diagnostic Analytics – Answers the question: Why is it happening?
Predictive Analytics – Answers the question: What might happen in the future?
Prescriptive Analytics – Answers the question: How do we take action?
The Traditional Analytics Process vs. The New Analytics Process
The guide to Demystifying Analytics for Marketers explores the traditional analytics process and introduces a new analytics process aimed at automating the prep and analysis of data in order to give marketers more control over their analytics.
Getting Better Insights
The key to getting better insights lies in your ability to answer three questions about your analytics:
- What is Happening?
- Why is it Happening?
- How Can we Change it?
Most people have an easy time answering the first question “what is happening”. Your metrics can easily show if your conversion rate is down, if your clickthrough rates are improving, or if your organic traffic is growing. But this is what we call the “tip of the iceberg” because knowing “what” is going on is a lot easier to see than “why” or “how”.
See how getting a better understanding of how marketing analytics work can help you to make better data-driven decisions. Download the guide today to begin your marketing analytics journey.