Data allows organizations to effectively determine the cause of problems and can be used to measure and record a wide range of internal and external business activities. While the data by itself may not be very informative, it is the basis for all reporting and is crucial in running any business. This indicates the extremely […]
Data warehousing has grown in popularity due to the advent of fast internet. The internet has made it easy to access information. This information creates lots of data, and Bill Inmon started data warehousing to help transform data from operational systems to decision-making systems.You see, as computer systems have evolved over time, there has been […]
What are the top ten metrics that marketers should be monitoring? The answer varies depending on what industry you work in and how experienced you are as a marketer. For example, if you just started working as a marketer, your top 10 metrics might look different from someone who has been doing marketing for twenty […]
Marketing data analytics is the process of getting data from marketing campaigns and studying it to get the patterns between consumer behavior and creative preferences. By using marketing data analytics, you decipher hidden patterns that you can use to optimize your future campaigns. You capitalize on the insights gained and get to avoid marketing mistakes you’ve made.
What is Customer Lifetime Value (CLV)? Customer Lifetime Value (CLV) is a customer’s total profit value to your company throughout the time they are your customer. CLV includes all the money they have spent, will spend, and the potential referrals to other prospective clients. CLV calculates and tells you the profit expected from a customer, […]
Retailers pay a great deal of attention to metrics such as same stores sales, sales per square foot, sales per employee, gross and net profit, average transaction value and foot fall. Most of these are result metrics that measure how well a retailer performs. However, there are certain “lead metrics” that may help predict the […]
As a marketer, you often face the dilemma where to invest your marketing dollars, specifically which customers to invest in. Do you invest in your high value customers or high growth customers? How do you recognize “growth” customers? How do you recognize “diminishing” customers? Each of these warrant extensive discussions that I will cover in […]
As a retailer, do you know which consumers buy more and why? Which in-store promotions are effective and why? How effective is your merchandising and shelf placement? The answer to these questions lie in the market baskets of your consumers purchases. Market baskets analysis, the scientific view into consumers’ shopping carts (the transactions), can provide […]