Marketing Analytics: Driving Roi through Data-Driven Marketing Strategies

Abstract

An organization’s ability to develop and execute strategy relies on its grasp of customer behavior, especially in today’s volatile business climate. Achieving market dominance relies on it. Consequently, customer centricity should permeate all aspect of a company’s operations. In order to assist businesses locate the “right” customers, retain and expand their customer base, and maintain growth and profitability, marketers must utilize big data through data driven marketing (DDM). Aiming to increase shareholder value through establishing “customer centricity” is the focus of this research, which also delves into DDM adoption techniques. The decision-making process has grown in significance with the advent of analytics and the raging digital era. Also essential to the process are intuition and judgment. Choosing the right thing to do isn’t something that can be done purely rationally. This study provides the answers to the research questions about how data analytics in one department affects that department and the company as a whole. To be more specific, it uses an information value chain technique to hypothesize the link between the marketing unit’s and the firm’s performance in terms of quality data and the sensing capabilities of IT- based analytics. Supporting the predictions, a survey of 346 companies found evidence of both direct and partially mediated effects on sensing capabilities, as well as partially mediated effects on quality data.