Implementing Marketing Analytics

8 Pages Posted: 8 Oct 2020

See all articles by Paul Farris

Paul Farris

University of Virginia - Darden School of Business

Rajkumar Venkatesan

University of Virginia - Darden School of Business

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Abstract

This note supports cases used in Darden's "Marketing Analytics" course elective. Marketing analytics powered by "big data" holds the promise to transform marketing strategy from a discipline based mostly on intuition to a fact-based decision-making process. Based on interactions with more than 100 executives in conferences, executive education seminars, case study development, and consulting projects, this technical note serves as a road map for improving implementation of marketing analytics within organizations.

Excerpt

UVA-M-0869

Rev. Oct. 11, 2019

Implementing Marketing Analytics

Marketing analytics powered by "big data" holds the promise to transform marketing strategy from a discipline based mostly on intuition to a fact-based decision-making process. Despite the potential of data analytics in marketing, its widespread adoption within organizations remains a challenge. Fewer than half the respondents in a survey conducted by Deloitte and Duke University reported being able to leverage marketing analytics for decisions. The trend, however, is positive: the percentage of survey respondents using marketing analytics for decisions increased from 30% in early 2013 to 42% in early 2018. The roadmap for improving implementation of marketing analytics shown in Figure 1 is based on interactions with more than 300 executives in conferences, executive education seminars, case-study development interviews, and consulting projects.

The launching pad for implementation of marketing analytics is support from top management and the integration of the marketing analytics function in business processes. Firms must address issues related to organizational structures, analytics processes, and organizational change in order to foster implementation of analytics (Figure1). Within this framework, managers should ask seven key questions to start the journey toward a marketing analytics–driven culture.

Figure 1. Roadmap for implementing marketing analytics.

. . .

Keywords: marketing analytics, big data, resource allocation, return on marketing investment, ROMI, organizational change

Suggested Citation

Farris, Paul and Venkatesan, Rajkumar, Implementing Marketing Analytics. Darden Case No. UVA-M-0869, Available at SSRN: https://ssrn.com/abstract=3707080 or http://dx.doi.org/10.2139/ssrn.3707080

Paul Farris (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
434-924-0524 (Phone)

HOME PAGE: http://www.darden.virginia.edu/faculty/farris.htm

Rajkumar Venkatesan

University of Virginia - Darden School of Business

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

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