Towards the Adoption of Machine Learning-Based Analytical Tools in Digital Marketing

Andrej Miklosik,Stefan Zak,Martin Kuchta,Nina Evans

doi:10.1109/access.2019.2924425

Abstract

Exponential technological expansion creates opportunities for competitive advantage by applying new data-oriented approaches to digital marketing practices. Machine learning (ML) can predict future developments and support decision-making by extracting insights from large amounts of generated data. This functionality greatly impacts and streamlines the strategic decision-making process of organizations. The research gap analysis revealed that a little is known about marketers’ attitude toward, and knowledge about, ML tools and their adoption and utilization to support strategic and operational management. The research presented here focuses on the selection and adoption of the ML-driven analytical tools by three distinct groups: marketing agencies, media companies, and advertisers. Qualitative and quantitative research was conducted on a sample of these organizations operating in Slovakia. The findings highlight: 1) the important role of intelligent analytical tools in the creation and deployment of marketing strategies; 2) the lack of knowledge about emerging technologies, such as ML and artificial intelligence (AI); 3) the potential application of the ML tools in marketing, and; 4) the low level of adoption and utilization of the ML-driven analytical tools in marketing management. A framework consisting of enablers and a process map was developed to help organizations identify the opportunities and successfully execute projects that are oriented toward the deployment and adoption of the analytical ML tools in digital marketing.

Highlights

In recent years, the extensive development of information and communication technologies in the private and public sectors initiated the emergence of a new digital marketing environment
It is estimated that 2.5 quintillion bytes of data are created every day and this number increases with the onset of the Internet of Things (IoT) [1]
Based on all the answers, we can clearly state that marketing analysis is the cornerstone of the process of preparing and implementing a marketing strategy

Summary

Introduction

The extensive development of information and communication technologies in the private and public sectors initiated the emergence of a new digital marketing environment. Due to the proliferation of information technology, a huge amount of data is currently generated. It is estimated that 2.5 quintillion bytes of data are created every day and this number increases with the onset of the Internet of Things (IoT) [1]. It is estimated that 90% of the available global data has been generated in the past two years [2]. And precise business decisions depend on the generation, access, and utilization of quality information. Exponential technological expansion and its barrier-free global dissemination

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