Online Micro Masters Program in Marketing Analytics offered by University of California, Berkeley.
Marketing analytics is a math-based discipline that seeks to find patterns in your marketing data to increase actionable knowledge that you can use in your marketing strategy to improve your marketing performance.
Analytics employs statistics, predictive modeling, and machine learning to reveal insights and answer questions.
Weather predictions, batting averages, and life insurance policies are all the results of analytics.
In the world of marketing, analytics is critical to understanding marketing impact and predicting marketing trends, user behavior, and optimizing the user experience (UX) to drive sales.
We are living in an age of accessible data.
At work, you can use similar tools to gather information about your customers.
You can learn almost anything you need to know, from what kinds of products your customers buy to what age groups tend to visit your site most frequently.
And you can break this data down, all the way to the individual level if that’s what you need.
In the end, it’s not the data that matters, but what you do with it.
The power is in data aggregation and interpretation, the framework of a process known as marketing analytics.
Here you have the 2 main purposes of marketing analytics:
👉 To determine what you can do differently to get better results across your marketing channels.
Together, these processes let you turn raw marketing data into an action plan and make the most of your marketing strategies.
Marketing Analytics is one of the best ways to understand your customer journey and find out what’s working in your campaigns and what isn’t.
And having that information is crucial for your future marketing efforts.
Most businesses today have access to customer data and web analytics tools.
The difference is in whether your company makes use of that data.
Too often, it just ends up sitting on a server without doing anything particularly useful.
In the worst-case scenario, it can be misinterpreted and misused, leading your marketing team away from the correct path or direction.