The benefits of marketing analytics and challenges

Madiha Farooqui

Chapter 4 in Handbook of Big Data Research Methods, 2023, pp 52-71 from Edward Elgar Publishing

Abstract: Both academics and practitioners in the field of marketing analytics come from a wide range of backgrounds. These backgrounds include, but are not limited to, marketing strategies, expert analysis, marketing statistics, and operational research. Within the scope of marketing analytics, a wide range of subjects are covered in this chapter, each of which is evaluated using an integrative approach. The one and only objective is to provide a comprehensive introduction to marketing analytics to the users and readers who are members of the community of intelligent and expert systems, as well as to those who will soon be beginning a career in the area of marketing analytics. There are a lot of different subjects that are discussed, including visualization, market segmentation, and the class forecast of both the present and the future. The need to appreciate the value of interdisciplinary relationships is emphasized here. Reviewing historical data obtained from a wide variety of studies and types of published literature, the analysis begins with research carried out in the 1960s and continues up to the current day. Several studies examine recent advancements made to big and complicated data sets that are now in use. We went through a number of testing procedures, each of which has the potential to be useful in better comprehending the matrix of marketing analytics, and we highlighted some ideas for putting them into practice in the real world.

Keywords: Business and Management; Economics and Finance; Innovations and Technology; Research Methods (search for similar items in EconPapers)
Date: 2023
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