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Analytics-The Benefits and the Challenges

Who Will Be Increasing Their Marketing Analytics Spending by 66%

The “CMO Survey Report: Highlights and Insights,” August 2015 survey by Christine Moorman and sponsored by McKinsey & Company, American Marketing Association, and The Fuqua School of Business at Duke University, analyzes spending on marketing analytics by firm and industry characteristics.  The survey shows how companies use marketing analytics to drive decisions, how that use is changing, and other metrics related to marketing analytics.  This survey also analyzes other issues of concern to CMOs.  TAGS: CMOs, marketing analytics.  See more . . . Source: http://cmosurvey.org/files/2015/09/The_CMO_Survey-Highlights_and_Insights-Aug-2015.pdf

How to Deliver Positive ROI by Using Predictive Marketing

This Forbes Insights report, “The Predictive Journey,” undertaken in association with Lattice Engines, is based on their 2015 Survey on Predictive Marketing Strategies.  According to this report, mature users of predictive analytics technology report tangible gains to their bottom lines.  Eighty-six percent of marketing executives who have been overseeing predictive marketing for at least two years report an increased return on investments as a result of their predictive marketing. The report also reports on the business value gained from predictive marketing, predictive marketing success metrics, and other key findings. TAG: predictive analytics.  See more . . . Source: http://images.forbes.com/forbesinsights/StudyPDFs/Lattice-ThePredictiveJourney-REPORT.pdf

CPG Firms Too Slowly Becoming Analytics-Driven Organizations?

This research report by Accenture, “CPG Firms Slowly Evolving to Analytics-Driven Organizations,” explores how CPG companies are structuring analytics-driven organizations, and how they are “infusing” analytics into the decision-making processes.  While some of the largest CPG companies (revenue more than $5 billion) have analytics well integrated into core processes, this report concludes that most CPG companies are in the early stage of their analytics journey.  However, companies are committing resources to analytics, and this evolution is accelerating. The report also addresses the barriers that prevent CPG companies from realizing value from analytics, such as the challenges of hiring talent with advanced analytics expertise.  TAG: CPG.  See more . . . Source:  https://www.accenture.com/ae-en/~/media/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Industries_2/Accenture-CPG-Firms-Slowly-Evolving-to-Analytics-Driven-Organizations.pdf

Will Your Data Analytic Efforts Fail?

David Court, a Director in McKinsey’s Dallas Office, analyzes the challenges faced by companies undergoing the transformation necessary to realize the large-scale benefits of data analytics in this McKinsey Quarterly article, “Getting Big Impact From Big Data.” This article provides some of the reasons why data analytics efforts fail to achieve the scale necessary, as well as analyzing the new tools and approaches that are available.  Among the actions recommended are a focus on change management, a redesign of workflows and jobs, as well as a building a foundation of analytics within the corporate culture.  TAG: data analytics.  See more . . . Source:  http://www.mckinsey.com/insights/business_technology/getting_big_impact_from_big_data

Report by White Ops and ANA – “Did Ad Fraud Increase or Decrease Y-O-Y?”

Suzanne Vranica, writing for The Wall Street Journal, discusses the study done by the Association of National Advertisers (ANA) and White Ops Inc. on bot fraud in this article, “Bogus Web Traffic Continues to Plague the Ad Business.” The 2015 study found that between 3% and 37% of the ad impressions of advertisers participating in this study were created by bots. Bot traffic ranged from 2% to 22% in the 2014 study. The article analyzes the red flags related to ad fraud. TAG: bot fraud.  See more . . . Source:  http://www.wsj.com/articles/bogus-web-traffic-continues-to-plague-the-ad-business-1453204801