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

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.