analytics

(noun)

the discovery and communication of meaningful patterns in data, which rely on the simultaneous application of statistics, computer programming, and operations research to quantify performance.

Related Terms

  • contribution margin

Examples of analytics in the following topics:

  • Marketing Performance Metrics

    • Long-term ROMI creates a challenge for brands unfamiliar with using business analytics together with marketing analytics to determine resource allocation decisions.
  • Analyzing Data

    • Predictive analytics focuses on application of statistical or structural models for predictive forecasting or classification.
    • Text analytics applies statistical, linguistic, and structural techniques to extract and classify information from textual sources, a species of unstructured data.
  • Plan the Research Design

    • Step two includes formulating an objective or theoretical framework, analytical models, research questions, hypotheses, and identifying characteristics or factors that can influence the research design.
  • Competitive Intelligence

  • Researching Using Digital Media

    • Social media analytics allow brands to efficiently collect and analyze qualitative research on user interaction with images, video, podcasts and other digital media.
  • Effects of Technology on Services

    • Sales analytics monitor client actions and preferences and augment sales forecasts and help measure the effectiveness of marketing campaigns.
    • The simplest form involves tracking mouse clicks, but can also include predictive analytics which use "buy signals" to see which prospects are likely to transact.
  • Determining a Budget

    • This includes customer relationship management (CRM) software, web analytics, marketing automation, and inbound marketing software.
  • Careers in Marketing

    • For example, a CRM marketing analyst may focus on customer relationship management systems and analytics, while social media and engagement managers launch and oversee marketing campaigns across different social media platforms.
  • Break-Even Analysis

    • The break-even point is one of the simplest analytical tools in management.
  • Marketing Innovation Trends

    • Their potential for tracking offline sources and delivering the types of analytics previously reserved for online tracking makes another powerful reason that marketers are flocking to QR codes in droves.
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