Savvy Chief Marketing Officers (CMOs) and Marketing Analytics Trends Staying ahead of business competition is achieved through the use of marketing analytics. Savvy CMOs achieve this by addressing state-of-the-art (SOTA) trends driving marketing analytics.
Top Three Trends Driving Marketing Analytics
In order of importance, there are three major trends that are diving marketing analytics at present and into the near future. These include:
. Implementing Artificial Intelligence (AI)
. Designing marketing analytics with a recognizable story
. Developing new data sources
Artificial Intelligence and Marketing Analytics
Marketing analytics based upon the use and implementation of artificial intelligence predisposes the advancement of data collection from computer applications with features that include:
. Speech recognition
. Language translation
. Decision-making capabilities
. Visual perceptions
In an increasingly globalized target market, data collected between computer systems is a valuable means of advancing marketing analytics. For example, it is easy to see the impact on public relations and digital marketing of AI related to social media promotions.
By linking speech recognition in system-to-system applications, data is disseminated quickly through the ability to validate and recognize voice styles used in media. For example, voice recognition has been proven by Stanford University computer scientists to be three times as fast as texting on a cell phone.
This also applies to language translation. Marketing analytics that is AI based is capable of instantaneous translations over a wide spectrum of global target markets.
Embedding decision-making capabilities allows systems and applications to bypass human intervention and predicate stoichiometric-derived decisions.
For marketing analytics, this is an adaptation that fits neatly into the speed with which data is transmitted and utilized for target markets.
Visual perceptions play a large role in the vitality of marketing analytics. Data analyzed through AI surpasses volumes of useful marketing data not retained by the human mind.
More important is the ability of AI features to quickly project images over a broad social media platform.
Thus, CMOs can join thousands of businesses globally already relying on AI, a technologically evolving methodology trend driving marketing analytics.
Designing Marketing Analytics with a Recognizable Story
Tools for digital marketing are deeply invested in formatting styles, keywords and content marketing techniques.
The basis for designing marketing analytics with a recognizable story is to attract target markets with easy to understand definitions and explanations of today’s newest opportunities and related marketing trends. Marketing trends that are fashioned into stories for non-analytical individuals drives a more comprehensive concept of marketing analytics.
Developing New Data Sources
Clearly, marketing analytics of a decade ago no longer adapts well to globalized target markets of the present or future or today’s hi tech statistical analytical systems.
The trend in marketing analytics is to ensure more expansive scopes of data sources are studied for effective utilization with enough potential to fit neatly into future marketing data.
Within each industry, marketing analytics vary. However, the basics of these analytics as collected data forms the picture of present and future marketing and digital marketing trends.
In the past, businesses relied on single sourced data inherent to their specific industry. As such, this omitted the ripple effect to businesses located outside, but relative to specific industries.
It’s difficult to imagine advancing businesses without using the internet as a digital marketing tool. In addition to digital marketing tools, there is a wealth of new data sources. Some are available for free online and others require use fees. Many public relations businesses use free U.S. government data sources, such as the U.S. Census Bureau.
In terms of marketing analytics, it is imperative to choose new data sources that provide data that can be validated. These new data sources are trends driving marketing analytics businesses should study and research.