What is Analytical Marketing? Explanation
I am looking for the most applicable explanation of "analytical marketing"...
Please react if you have a good definition or summary.
Giving best practices and examples will also be appreciated!
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Stephen Dzuro
Consultant, United States
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Background Analytical Marketing
Neo-Classic Economics' primary question is: 'how much?'
If we define our objectives so that they are clear and obtainable business goals, we then need to monitor this business performance. Then the data allows us to refine our objectives and priorities based on this empirical data.
Therefore, when we use input to make educated decisions and conduct research with experimentation and the gathering of data to improve our understanding and perception of reality, the goals we set become more realistic and our results improve.
Thus, the evolution of the Neo-Classic school where the culture rewards performance based on measurable data. This school's practices have been honed to the marketing discipline with the application of Google Analytics and others' analytic software. This has yielded the practice known as performance marketing, e.e. analytical marketing.
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