Column 16 · Digital, Data, and Technology · Era 6, Engagement and Networks (2010s)
Marketing Analytics
Inputs: resources and assets · Landmark · Cluster VI, Context
Description
Wedel and Kannan reviewed marketing analytics in data-rich environments, covering methods for customer, marketing-mix, and firm-level decisions and the challenges that big data and privacy pose for them.
Managerial Implications
Analytics creates value when it is connected to decisions in a data-rich environment: personalization, pricing, attribution, and customer management. The constraint is rarely data; it is the skill to ask decision-relevant questions, the organization to act on answers, and the handling of privacy. Managers should start from the decisions that matter most, build the analytics to support them, and set privacy rules before the data grows.