After publishing an in-depth article on Descriptive Analytics, Econsultancy writer Jeff Rajeck has published a second article focused on Diagnostic Analytics. Rajeck says, “Previously, we discussed how descriptive analytics will tell you what just happened. To understand why, however, you need to do some more work. You need to perform diagnostic analytics. In many cases, when there is a single ‘root cause’ of the situation, diagnostic analytics can be quick and simple – you just need to find that root cause. But, if no root cause is apparent, then you need to use diagnostic... [...]

In descriptive analytics a summary of historical data is created to yield useful information and possibly prepare the data for further analysis. So it is one of the initial steps of analytics. Econsultancy’s Jeff Rajeck has published an in-depth article on descriptive analytics. Rajeck says, “For a start, descriptive analytics only uses facts and real data. Descriptive analytics should not include assumptions or derived data which cloud the description. For example, the report described above should not include estimates and any missing data should be clearly noted. Descriptive analytics... [...]

Kissmetrics is hosting a webinar on ‘7 Pitfalls That Will Ruin Your Analytics Data and Prevent You from Getting Any Insights’ on Thursday, July 20 at 10.00 am PT. The webinar will reveal techniques to help marketers improve their conversion rate and revenue. Webinar speakers Ruben Ugarte, Founder, Practico Analytics Thue Madsen, Marketing Operations Manager, Kissmetrics Kissmetrics team says, “In this webinar, Ruben Ugarte, founder of Practico Analytics will show you the most common mistakes that companies make when they are setting up their analytics tools. Some of these... [...]

Predictive analytics is an advanced analytics that helps marketers identify patterns in the data and predict future user behaviours. It uses data mining, statistics, modeling, machine learning, and artificial intelligence to analyze current data and make predictions about future. Econsultancy’s Ben Davis has shared four crucial points that marketers should consider while using predictive analytics strategies. On identifying appropriate sources of data, Davis says, “One of the most fundamental points to consider is whether data is indeed capable of providing an answer to every question... [...]

Guy Greenberg says, “If you’re running a successful startup and are anticipating entering a high-growth phase, you know how critical it is to be able to answer the right business questions to work towards that growth. It’s not about the numbers of customers and what actions they took; rather, it’s about understanding their behavior and the story behind those actions. Advanced analytics gives you this understanding of the customer journey across your app, website or product. They give you those deep insights that you need in order to understand beyond the what (actions) and get to the... [...]

Tamara Littleton says, “Social media has dominated my working life since its inception. It’s been fascinating to see the evolution of brand communication as it moved away from brands talking at people, towards the creation of a dialogue with customers, fans and followers. But now it’s time for the next step. Emotional analytics allows brands to connect with people on a deeper, more personal, level. Unlike sentiment analytics, which simply allocates responses into broad positive, neutral or negative categories, emotional analytics tells brands what people are feeling and why. This, I think,... [...]

Arliss Coates says, “In August 2016, Econsultancy published a report in association with IBM called The Secrets of Elite Analytics Practices. We sought to discover just how much analytics was contributing to business performance and where in particular analytics was making the biggest impact. Today we’re expanding on those insights with commentary from top marketers on the power of analytics. In this, the first of two long reads, we explore how analytics is revealing opportunities in a complex customer journey and what tactics are winning out. We’ll also be exploring its limitations... [...]

Allison Snow says, “Since 73% of companies understand the business value of data and aspire to be data-driven, but just 29% confirm that they are actually turning data into action – it’s not a leap to suspect that organizations are at risk of collecting data without deploying them in ways that support deeper customer engagement. This concept – linking insights to action – is an example of a mission-critical imperative that transcends client roles. Consider: In Combine Systems Of Insights and Engagement For Contextual Marketing, Rusty Warner sets the stage for marketers that... [...]

Ellisa Hudson says, “Measuring the effectiveness of digital marketing is one of the greatest challenges facing organizations. According to HubSpot’s 2016 State of Inbound report, 46% of marketers cited “proving the ROI of our marketing activities” as one of the biggest challenge they face within their company. The trouble is, when most marketers hear ‘digital marketing analytics,’ they tend to think of the metrics you’d typically associate with a web analytics tool like Google Analytics — traffic, bounce rate, unique visitors, etc. While web analytics... [...]

According to Ben Davis , “Last month, Econsultancy published the Predictive Analytics Report, in association with RedEye. We’ve rounded up some of the findings of the survey report in an old-school infographic. N.B. Subscribers can download the full Predictive Analytics Report for further background and analysis. And for more from the report and on predictive analytics in general, see the following resources: – What is predictive analytics and how could you use it? – Four key trends in the use of predictive analytics – Expanding your marketing playbook with predictive... [...]