Analytics

 

Analytics is defined as being the discovery and communication of meaningful patterns in data.  Analytics relies on the simultaneous application of statistics, computer programming and operatons research to quantify performance.  Businesses may apply analytics to describe, predict, and improve business performance.  Analytics dashboard tools can help businesses identify trends and make decisions.

 

Marketing has evolved from a creative process into a highly data-driven process. Marketing organizations use analytics to determine the outcomes of campaigns or efforts and to guide decisions for investment and consumer targeting. Demographic studies, customer segmentation, conjoint analysis and other techniques allow marketers to use large amounts of consumer purchase, survey and panel data to understand and communicate marketing strategy.