How to Make Marketing Science a Reality–and Deliver the Analytic Results that Executives Want
For all the promise of data-driven marketing decision-making, Gartner predicts CFOs will slash marketing analytics budgets by up to 60% in 2023. Companies have spent years building up these teams—however, they have largely been unable to deliver the data-driven results that executives want. In fact, the same study estimates that marketing analytics influences only 53% of marketing decisions.
Within this comprehensive resource, we cover the challenges of and approaches to operating an effective Marketing Analytics organization. First, we define the scope of Marketing Analytics, using a jobs-to-be-done framework: What (reporting on facts); Why (digging into causes); Who (understanding audiences and customers); How (attribution and mix); and What Will Happen (predictive modeling). Finally, we cover the seven functional areas that enable these jobs, and the best practices that make them work effectively: Source Systems, Data Pipelines, Analytical Data Storage, Data Science, Business Intelligence, Project Management, and Team Skills.
This whitepaper is a detailed, concrete resource for Marketers and Marketing Analytics professionals looking to take their organizations to the next level of data-driven decision-making.
Learn what Marketing Analytics teams need to better diagnose issues, predict outcomes, and allocate resources.
- The six most common failure points for marketing analytics
- The five key marketing analytics jobs-to-be-done
- The seven functional building blocks of great marketing analytics teams