Marketing and analytics go hand-in-hand; in fact, with the ongoing tech revolution – you really can’t do without the latter in your efforts to compete. The crux of the matter is your ability to gather data, and then to use forecasting to make the best use of that data in pointing your marketing efforts in the right direction. This means keeping up with the developments; in the following, we’ll check out a few of the analytics trends to watch this coming year.
Details: Proactive Analytics
You’ve heard the saying “the devil is in the details”; going forward, with enough data, you’ll find tools that can produce astonishingly predictive behavior insofar as the customer experience is concerned. The details part comes in the granularity of the analytics, in that the volumes of data cannot have any portion absent in order to produce the best results. The tools for doing so exist today – and are only getting better by the month.
Customer Experience Improvements – CXO
CXO is, basically, an acronym that refers to improving the customer experience; specifically, through optimization. As a matter of efficiency (without compromising reach), many companies are using Information Technology to address their customer relationship needs – indeed; analytics show that over 65% of such interactions will be IT-enabled in the immediate future and beyond.
Improved Data Visualization Techniques
Pie charts and x vs. y have long been surpassed by visualization technologies that have to be seen to be believed. Now, powerful programming languages such as Python and C++ are being used to render comprehensive treemaps and matrixes for displaying every single bit of relevant data about your products, services and the manner in which the public interacts with these.
The above examples barely touch the growing landscape of data trends and analytics. They do, however, point your company in the right direction for what’s to come; by getting a leg up on the competition when you implement these early, they’ll be hard-pressed to catch up.