Twollow
  • Tech
    Video Editing Services

    Video Editing Services: A Comprehensive Overview and Guide

    ATS Software

    ATS Software & How it Works

    Tips for Working with Your Web Designer

    7 Great Tips for Working with Your Web Designer

    Virtual Event Software

    Virtual Event Software: What Is It and How Does It Work?

    How Many Questions Can You Ask Chatgpt In An Hour

    How Many Questions Can You Ask Chatgpt In An Hour

    How To Block Mind-Reading Technology

    How To Block Mind-Reading Technology – A Detailed Guide

    IoT Devices

    IoT Devices: Communication Is Key, but How?

    Applying AI and ML in the Manufacturing Industry

    A Comprehensive Guide to Applying AI and ML in the Manufacturing Industry

    Breathe New Life into Your MacBook

    Breathe New Life into Your MacBook Pro With Battery Replacement

  • Apps
    Food Delivery Apps

    Why White-Label Food Delivery Apps Are Best To Start in 2023

    Why Should You Buy Views for Instagram

    Why Should You Buy Views for Instagram | Top Advantages

    News Mobile App

    Best Practices For Creating Engaging News Mobile App

    app development

    InsiderTech No:1 Web Application Development

    Efficient Hosting Solutions

    Why Businesses Should Use Highly Efficient Hosting Solutions for Their Sites

    How To Build Android Apps With Node JS Using Android JS

    How To Build Android Apps With Node JS Using Android JS

    Is Powerapps Service The Future Of App Development?

    How To Make Night In Little Alchemy

    How To Make Night In Little Alchemy?

    How To Make Light In Little Alchemy

    How To Make Light In Little Alchemy?

  • How To
    How to Uninstall Easytune

    How to Uninstall Easytune

    How To Import GTA Vice City Save To IOS

    How To Import GTA Vice City Save To IOS

    unit trusts

    How to Invest in Singapore Unit Trusts

    How To Unlock All Gun Skins in free Fire With Lulubox

    How To Unlock All Gun Skins in free Fire With Lulubox

    solar panels

    Common Solar Panel Concerns and How to Deal With Them

    imei number

    How to Check IMEI Number?

    bong

    How do you manufacture a bong?

    Central heating

    DIY Guide: How To Install A Designer Radiator

    website

    Things That Might Be Wrong With Your Website And How To Fix Them

  • Business
    • All
    • Finance
    What Is Payroll Software And What Are Its Benefits

    What Is Payroll Software And What Are Its Benefits?

    How Customer Reviews Affect Your Brand Reputation

    How Customer Reviews Affect Your Brand Reputation

    How to Qualify for an FHA Loan

    How to Qualify for an FHA Loan: Wondering If You’re Eligible for an FHA Loan?

    Ways to Level Up Your Financial Literacy

    Excellent Ways to Level Up Your Financial Literacy

    Investing In Gold

    Investing In Gold: What Lies Ahead?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    CRM Mistakes Businesses Make And How To Avoid Them

    5 CRM Mistakes Businesses Make And How To Avoid Them

    Business Benefits Of Learning a New Language

    The Business Benefits Of Learning a New Language

    job change

    What are the Mistakes that you should avoid when making a career change

  • Marketing
    Why is Conversion Rate Optimization Important

    Why is Conversion Rate Optimization Important?

    Positives and Negatives of Outsourcing Your Marketing

    The Positives and Negatives of Outsourcing Your Marketing

    Top 10 online marketplaces in 2023

    Top 10 online marketplaces in 2023: a guide to leading ecommerce platforms

    Tips for Creating an Effective Website

    Business Websites: 8 Tips for Creating an Effective Website

    Importance of Branding in the Health Industry

    The Importance of Branding in the Health Industry

    What is an SMM Panel

    What is an SMM Panel: A Comprehensive Guide for Beginners and the Right Time to Buy an SMM Panel

    Importance of Time to Market on Product Development

    Importance of Time to Market on Product Development

    Local SEO Tips for Struggling Businesses

    Eight Local SEO Tips for Struggling Businesses

    SMM panels to enhance your social media strategy

    Best practices for using SMM panels to enhance your social media strategy

  • General
    Best Maids Services Near Me

    Get Your Home Spotless with the Best Maids Services Near Me

    Flight Training

    Flight Training 101: Everything You Need to Know

    Punching Bag Online For Boxing

    Buying The Perfect Punching Bag Online For Boxing -Tips And Suggestions

    decorate outdoor

    5 Outdoor Decorating Trends That Are Shaping 2023

    How Long After A Vasectomy Can I Drive A Car

    How Long After A Vasectomy Can I Drive A Car

    Preparing For Your First Client Meeting

    10 Tips On Preparing For Your First Client Meeting

    Damon Salvatore Rule 34

    Damon Salvatore Rule 34: Everything You Need To Know 

    Online Radio Proxy

    Use An Online Radio Proxy To Listen Anywhere In The World

    best coffee bean grinders

    Coffee Packaging Guide for Summer 2023

  • Reviews
    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

    Honey Chrome Extension Review

    Honey Chrome Extension Review – Is It Scam Or Real?

  • Featured
No Result
View All Result
  • Tech
    Video Editing Services

    Video Editing Services: A Comprehensive Overview and Guide

    ATS Software

    ATS Software & How it Works

    Tips for Working with Your Web Designer

    7 Great Tips for Working with Your Web Designer

    Virtual Event Software

    Virtual Event Software: What Is It and How Does It Work?

    How Many Questions Can You Ask Chatgpt In An Hour

    How Many Questions Can You Ask Chatgpt In An Hour

    How To Block Mind-Reading Technology

    How To Block Mind-Reading Technology – A Detailed Guide

    IoT Devices

    IoT Devices: Communication Is Key, but How?

    Applying AI and ML in the Manufacturing Industry

    A Comprehensive Guide to Applying AI and ML in the Manufacturing Industry

    Breathe New Life into Your MacBook

    Breathe New Life into Your MacBook Pro With Battery Replacement

  • Apps
    Food Delivery Apps

    Why White-Label Food Delivery Apps Are Best To Start in 2023

    Why Should You Buy Views for Instagram

    Why Should You Buy Views for Instagram | Top Advantages

    News Mobile App

    Best Practices For Creating Engaging News Mobile App

    app development

    InsiderTech No:1 Web Application Development

    Efficient Hosting Solutions

    Why Businesses Should Use Highly Efficient Hosting Solutions for Their Sites

    How To Build Android Apps With Node JS Using Android JS

    How To Build Android Apps With Node JS Using Android JS

    Is Powerapps Service The Future Of App Development?

    How To Make Night In Little Alchemy

    How To Make Night In Little Alchemy?

    How To Make Light In Little Alchemy

    How To Make Light In Little Alchemy?

  • How To
    How to Uninstall Easytune

    How to Uninstall Easytune

    How To Import GTA Vice City Save To IOS

    How To Import GTA Vice City Save To IOS

    unit trusts

    How to Invest in Singapore Unit Trusts

    How To Unlock All Gun Skins in free Fire With Lulubox

    How To Unlock All Gun Skins in free Fire With Lulubox

    solar panels

    Common Solar Panel Concerns and How to Deal With Them

    imei number

    How to Check IMEI Number?

    bong

    How do you manufacture a bong?

    Central heating

    DIY Guide: How To Install A Designer Radiator

    website

    Things That Might Be Wrong With Your Website And How To Fix Them

  • Business
    • All
    • Finance
    What Is Payroll Software And What Are Its Benefits

    What Is Payroll Software And What Are Its Benefits?

    How Customer Reviews Affect Your Brand Reputation

    How Customer Reviews Affect Your Brand Reputation

    How to Qualify for an FHA Loan

    How to Qualify for an FHA Loan: Wondering If You’re Eligible for an FHA Loan?

    Ways to Level Up Your Financial Literacy

    Excellent Ways to Level Up Your Financial Literacy

    Investing In Gold

    Investing In Gold: What Lies Ahead?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    CRM Mistakes Businesses Make And How To Avoid Them

    5 CRM Mistakes Businesses Make And How To Avoid Them

    Business Benefits Of Learning a New Language

    The Business Benefits Of Learning a New Language

    job change

    What are the Mistakes that you should avoid when making a career change

  • Marketing
    Why is Conversion Rate Optimization Important

    Why is Conversion Rate Optimization Important?

    Positives and Negatives of Outsourcing Your Marketing

    The Positives and Negatives of Outsourcing Your Marketing

    Top 10 online marketplaces in 2023

    Top 10 online marketplaces in 2023: a guide to leading ecommerce platforms

    Tips for Creating an Effective Website

    Business Websites: 8 Tips for Creating an Effective Website

    Importance of Branding in the Health Industry

    The Importance of Branding in the Health Industry

    What is an SMM Panel

    What is an SMM Panel: A Comprehensive Guide for Beginners and the Right Time to Buy an SMM Panel

    Importance of Time to Market on Product Development

    Importance of Time to Market on Product Development

    Local SEO Tips for Struggling Businesses

    Eight Local SEO Tips for Struggling Businesses

    SMM panels to enhance your social media strategy

    Best practices for using SMM panels to enhance your social media strategy

  • General
    Best Maids Services Near Me

    Get Your Home Spotless with the Best Maids Services Near Me

    Flight Training

    Flight Training 101: Everything You Need to Know

    Punching Bag Online For Boxing

    Buying The Perfect Punching Bag Online For Boxing -Tips And Suggestions

    decorate outdoor

    5 Outdoor Decorating Trends That Are Shaping 2023

    How Long After A Vasectomy Can I Drive A Car

    How Long After A Vasectomy Can I Drive A Car

    Preparing For Your First Client Meeting

    10 Tips On Preparing For Your First Client Meeting

    Damon Salvatore Rule 34

    Damon Salvatore Rule 34: Everything You Need To Know 

    Online Radio Proxy

    Use An Online Radio Proxy To Listen Anywhere In The World

    best coffee bean grinders

    Coffee Packaging Guide for Summer 2023

  • Reviews
    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

    Honey Chrome Extension Review

    Honey Chrome Extension Review – Is It Scam Or Real?

  • Featured
No Result
View All Result
Twollow
No Result
View All Result

How Business Analytics is Changing the Way Companies Market Their Products

by Tom Fogden
April 29, 2020 - Updated on August 12, 2021
0
Business Analytics
Share on FacebookShare on Twitter

Business analytics and big data can help you to gain a deeper understanding of your customers. The more you know about your customers, the more chance you have of improving customer experience and increasing the profits and sales in your business.

Applying business analytics in marketing can help you to target your customers’ needs and focus on what is best for the consumer. It will also allow you to look at the way you market your products and services and find out when the right time is to market them. Keep reading below to find out more about business analytics and how it can improve the way you market your products and services:

What is Business Analytics?

Business analytics refers to the technologies, skills, and practices for continuous investigation and exploration of past business performance. The data you collect can give you a better insight into what’s working well and it can also help improve business planning. Business analytics looks at developing an understanding and providing an insight into business performance based on statistics and data.

Business analytics uses numerical analysis to help a business make decisions. Business analytics are closely linked to management science. It can be used to:

  • Drive fully automated systems
  • As an input for human decisions

Business analytics involve taking a data-driven approach to business in order to develop new business insights. In order to do this, we need to use:

  • Statistics
  • Data modelling

Why is Business Analytics Becoming So Popular?

Analytics were first introduced in the late 19th century by Frederick Winslow. Soon after, Henry Ford (the car manufacturer) used it to measure how long it took to build each car component within his factory.

Since then, business analytics has developed considerably. The increase in computing power has enabled even more advanced analysis of data to take place. The introduction of computers has brought a whole new world of endless possibilities. With how far analytics has come and the way business analytics are used today, more people might not believe that analytics only started in the 1900s.

Business analytics are now used in most large businesses around the world. Many start-ups are also starting to use the data collected to give them an advantage in the competitive market.

There has been a huge increase in business analytics in the technology industry, and more business schools have started offering courses to help meet this demand. These courses are perfect for small and large businesses alike, as they can help identify trends, customer opinions, problems within your business, and they can help you to become more effective and efficient. Click here to find out how you could earn your Masters in Business Analytics online.

Understanding Your Customers Better

Marketing is all about reaching the right customer at the perfect time. Evidence has suggested that marketers who understand their customers and know their needs are more likely to be successful. Understanding how big data is collected and how it works will allow you to predict potential purchases, better understand your customers, and analyse their behaviour.

Business analytics can help you to gain an insight into who is interested in your product or service in real-time. This allows you to target your marketing efforts and personalise them depending on each individual’s needs and wants.

Many companies use marketing automation software to:

  • Link digital behaviour to the CRM (customer relationship management) strategies.
  • Track certain topics such as what a customer is interested in.
  • Produce personalised content based on the customers’ interests.

Marketers who connect human experience with data can create buyer personas, which in turn help to produce more informed and better digital strategies. They also help to produce marketing campaigns that are tailored to a customer’s needs.

A persona is:

  • A composite representation of a human customer
  • Built to understand customers’ needs, goals, wants and pain points
  • Often used by content marketers to produce and deliver content that suits the needs of the audience. It will look at factors such as average income, demographics and purchase motivators.

Big Data is Big Money

Business analytics or big data also allows skilled marketers to work out how much money they are spending and how they can make the most out of the money they are spending. This enables them to use their marketing budget more effectively and efficiently.

A survey was completed between 2006 and 2014. This survey:

  • Was completed by McKinsey & Company who are a global management consulting firm.
  • Looked into over 400 diverse client engagements.
  • Was completed over a variety of different regions and industries.
  • Found that between 15-20% of all businesses’ marketing budgets could be spent in other areas. The majority of businesses were not marketing their business in an effective and efficient way, and many weren’t using the data they’d collected to see how they could improve.
  • Found that over £200 billion could be spent in other areas of the business.

After this survey had been completed, an insurance company contacted them to say:

  • That they had followed their advice and used the big data to increase their marketing productivity.
  • This productivity increased by more than 15% between 2009 and 2012.
  • They were able to improve the way they made business decisions.
  • They were able to reduce the amount of money they were spending on marketing to an efficient level, even though other businesses in the same industry were increasing their spending by up to 62%.

Most businesses and marketers understand that providing customers with a positive experience will typically lead to increased sales and referrals – it also often leads to repeat business. In today’s data-driven world, most people are aware that businesses are collecting their information through social media activity, loyalty cards and company apps, to name just a few. They realise that when brands know what motivates them and who their customers are and what they want, they can meet their needs more successfully.

Businesses who want to be effective and efficient in today’s competitive world need to be able to look at the masses of data they gather, understand what the data is telling them, and then interpret it in order to create an outstanding marketing strategy that sets them apart from their competition.

Tags: Business Analytics
Tom Fogden

Tom Fogden

Tom Fogden is a writer for Twollow with a range of experience in the world of tech publishing. Tom covers everything from cybersecurity, to social media and website builders when he's not reviewing the latest phones, gadgets, or occasionally even technology books.

Related Posts

What Is Payroll Software And What Are Its Benefits
Finance

What Is Payroll Software And What Are Its Benefits?

Streamlining payroll management is crucial for businesses of all sizes, considering the increasing intricacy of payroll processes and regulations. However,...

by Tom Fogden
May 30, 2023
How Customer Reviews Affect Your Brand Reputation
Business

How Customer Reviews Affect Your Brand Reputation

The customer's voice rings louder than ever in the bustling digital marketplace. Where's most of that noise coming from? Customer...

by Tom Fogden
May 19, 2023
How to Qualify for an FHA Loan
Finance

How to Qualify for an FHA Loan: Wondering If You’re Eligible for an FHA Loan?

Texas is the second-largest state in the United States, with a diverse population of over 29 million. The state is...

by John Morris
May 18, 2023
Ways to Level Up Your Financial Literacy
Finance

Excellent Ways to Level Up Your Financial Literacy

In today's world, having a good understanding of your finances is crucial. Financial literacy is essential to manage your money,...

by John Morris
May 17, 2023

Recommended

Why is Conversion Rate Optimization Important

Why is Conversion Rate Optimization Important?

May 31, 2023
Video Editing Services

Video Editing Services: A Comprehensive Overview and Guide

May 31, 2023
Used Textbooks

3 Tips for Getting the Most Value from Used Textbooks

May 30, 2023

Who We Are

Twollow is one of the leading tech and business blogs, that is dedicated towards updated Technology & Business news, reviews, Apps, how-to, smart tricks, and tweaks.

Follow Us

  • Facebook

Categories

  • Apps
  • Business
  • Education
  • Featured
  • Finance
  • General
  • How To
  • Marketing
  • Reviews
  • Security
  • Tech
  • Uncategorized

Top Posts & Pages

  • 100+ Free Premium Minecraft Accounts & Passwords (Tested 2023)
    100+ Free Premium Minecraft Accounts & Passwords (Tested 2023)
  • How to Get Free Virtual Phone Number for WhatsApp Installation
    How to Get Free Virtual Phone Number for WhatsApp Installation
  • How Much Weight is Allowed in a 20 ft and 40 ft Container?
    How Much Weight is Allowed in a 20 ft and 40 ft Container?
  • IoT Devices: Communication Is Key, but How?
    IoT Devices: Communication Is Key, but How?
Why is Conversion Rate Optimization Important

Why is Conversion Rate Optimization Important?

May 31, 2023
Video Editing Services

Video Editing Services: A Comprehensive Overview and Guide

May 31, 2023
Used Textbooks

3 Tips for Getting the Most Value from Used Textbooks

May 30, 2023
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • Disclaimer
  • Cookie Privacy Policy

No Result
View All Result
  • Home
  • Security