22 February, 2017
Moving Past The Whats And Into The Whys Of Analytics
Analytics is undergoing another phase of transformation. Even the most seasoned marketers are finding it hard to keep up with the changing role of data and analytics. Today, some might even say the rise of Artificial Intelligence (AI) might just be replacing the role of the data analyst.
However, innovative adaptive marketers are still finding new ways and opportunities to stay ahead of the game. Marketing spoke to David Sanderson, founder and CEO of Nugit, who shared with us how marketers can embrace analytics, and to work hand in hand with technology to get the most out of it.
Marketing: Analytics is such a big term today encompassing of so many evolving facets. How can marketers keep up?
Sanderson: The challenge is that while it is easy to buy-in to the power of data, it is much harder to realise its full potential because the world of data is currently defined by complexity. There’s a volume overload, fueled by over-technical solutions that propagate specialist ‘black-box’ approaches. This results in an overwhelming sense of opacity.
What marketers need to realise is that they have always been doing analytics. It’s just that up to now, they were usually doing it manually (all while the volume of data has been rapidly increasing and exceeding human capacity to process manually). Today’s new technologies are enabling companies to not only compile and group data together, but also highlight possible insights or conclusions. Technology has advanced at such an amazing pace and there is now an app to automate almost every tedious manual process.
These tools can now be used to combine analytics reporting across various functions in order to standardise reporting flows and provide holistic views of the key data flows within a company. The companies that have adopted these technologies early have incredible competitive advantages.