Information is power, and that’s especially true when it comes to marketing. Thanks to the rise of big data, marketers are now able to learn more about the preferences and behaviors of consumers than ever before. Drawing on analytics, organizations discover opportunities to expand into new markets, learn how customers interact with online advertisements, and predict the effects of new strategies. For companies to get the greatest marketing value out of vast collections of data, they must have experts in place to organize, interpret and apply these findings. With a master’s in business analytics, marketers are prepared to capture relevant information and extend the organization’s message to consumers when they are ready to hear it. Big data has changed the face of marketing forever, and with an advanced education in analytics tools and processes, professionals have the means to give their organization a leg up on the competition.
Engaging consumers with big data
Marketing has undergone a seismic shift since it became practical for companies in all industries to store huge amounts of quantitative information and use analytics to draw out potentially lucrative insights. These changes have significant implications for both overall growth strategies and day-to-day work within departments. A robust analytics strategy gives marketers a clearer sense of what kinds of advertising or promotions are most effective for different demographics and spotlights chances to engage new customers. With the ability to dig deep into quantitative evidence, marketing leaders note instances where their efforts are capturing the attention of consumers and where they are falling short. The right balance of paid advertising, organic search visibility, direct email marketing and publicity campaigns can make the difference in successfully garnering widespread interest. Marketing leaders find out what online communities tend to be interested in their products and services, then target ads. With this sort of information readily available, marketers are able to set clear goals for improving reach and effectiveness. Departments gain a thorough awareness of the customer journey, from first hearing about a product to making a purchase, and they take action to improve each step along the way. When they know precisely what videos or landing pages are driving high conversion rates, marketers can then set a promising course for future campaigns.
Taking on data-driven jobs in marketing
Marketing departments have reorganized and updated their processes to meet the demands of an increasingly data-driven business world. These changes bring exciting career opportunities for individuals who combine a deep understanding of marketing principles with analytics skills. Market research analysts provide organizations with perspective on how their products or services are likely to perform under existing conditions. With more companies discovering the advantages of this quantitative approach, the number of positions in the field is rapidly growing. The Bureau of Labor Statistics (BLS) projected new jobs becoming available at a rate of 19 percent through 2024. Analytics experts can also become advertising and promotions managers, leaders who are able to make quantitative information the driving force to spread the word about products and services. These marketing leaders develop wiser strategies to connect consumers with appealing products and timely information by planning and directing highly targeted campaigns. This work presents chances to stand at the forefront of digital change in marketing while using the findings to solve intriguing problems. Further, the role is financially rewarding, with the BLS reporting that advertising and promotions managers earn a mean annual wage of $117,810.
Seeking the education to harness analytics insights
To lead the way in today’s marketing initiatives, professionals must have a deep understanding of the relevant data. A master’s in analytics program offers the training they need to master the latest tools and techniques. Courses that focus on mining significant data and applying that business intelligence to pressing questions pave the way for establishing a career in a forward-thinking marketing department or agency. Students working toward their online master’s in data analytics through the Villanova School of Business are introduced to cutting-edge software and techniques. Learning from world-class faculty who are leaders in the field, graduates also complete a capstone that connects them with a business to work on a real-world analytics project. Visit the program page to discover how an advanced education can lead to taking part in marketing’s analytics revolution. Recommended Readings:
- Insights into action: Drawing the connection between analytics investment and success
- Career outcomes for a Master of Science in Analytics
- The evolving analytics sector, and why the Villanova MSA may be right for you
Sources: https://www.forbes.com/sites/mckinsey/2013/07/22/big-data-analytics-and-the-future-of-marketing-sales/#493fd4155587 https://www.entrepreneur.com/article/293678 https://techcrunch.com/2016/08/07/how-google-analytics-ruined-marketing/ https://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm https://www.bls.gov/oes/current/oes112011.htmhttps://blog.kissmetrics.com/google-analytics-to-shape-marketing-strategy/ https://www.sas.com/en_us/insights/marketing/marketing-analytics.html#