Top 6 Marketing Analytics Trends in 2021

SHAIVI CHAPALGAONKAR | June 21, 2021 | 19 views

The marketing industry keeps changing every year. Businesses and enterprises have the task of keeping up with the changes in marketing trends as they evolve. As consumer demands and behavior changed, brands had to move from traditional marketing channels like print and electronic to digital channels like social media, Google Ads, YouTube, and more. Businesses have begun to consider marketing analytics a crucial component of marketing as they are the primary reason for success.

In uncertain times, marketing analytics tools calculate and evaluate the market status and enhances better planning for enterprises.

As Covid-19 hit the world, organizations that used traditional marketing analytics tools and relied on historical data realized that many of these models became irrelevant. The pandemic rendered a lot of data useless.

With machine learning (ML) and artificial intelligence (AI) in marketers’ arsenal, marketing analytics is turning virtual with a shift in the marketing landscape in 2021. They are also pivoting from relying on just AI technologies but rather combining big data with it.

AI and machine learning help advertisers and marketers to improve their target audience and re-strategize their campaigns through advanced marketing attributes, which in turn increases customer retention and customer loyalty.

While technology is making targeting and measuring possible, marketers have had to reassure their commitment to consumer privacy and data regulations and governance in their initiatives. They are also relying on third-party data.

These data and analytics trends will help organizations deal with radical changes and uncertainties, with opportunities they bring with them over the next few years.

To know why businesses are gravitating towards these trends in marketing analytics, let us look at why it is so important.

Importance of Marketing Analytics

As businesses extended into new marketing categories, new technologies were implemented to support them. This new technology was usually deployed in isolation, which resulted in assorted and disconnected data sets.

Usually, marketers based their decisions on data from individual channels like website metrics, not considering other marketers channels. Website and social media metrics alone are not enough. In contrast, marketing analytics tools look at all marketing done across channels over a period of time that is vital for sound decision-making and effective program execution.

Marketing analytics helps understand how well a campaign is working to achieve business goals or key performance indicators.

Marketing analytics allows you to answer questions like:

• How are your marketing initiatives/ campaigns working? What can be done to improve them?
• How do your marketing campaigns compare with others? What are they spending their time and money on? What marketing analytics software are they using that helps them?
• What should be your next step? How should you allocate the marketing budget according to your current spending?


Now that the advantages of marketing analytics are clear, let us get into the details of the trends in marketing analytics of 2021:

Rise of real-time marketing data analytics

Reciprocation to any action is the biggest trend right now in digital marketing, especially post Covid. Brands and businesses strive to respond to customer queries and provide them with solutions. Running queries in a low-latency customer data platform have allowed marketers to filter the view by the audience and identify underachieving sectors. Once this data is collected, businesses and brands can then readjust their customer targeting and messaging to optimize their performance.

To achieve this on a larger scale, organizations need to invest in marketing analytics software and platforms to balance data loads with processing for business intelligence and analytics. The platform needs to allow different types of jobs to run parallel by adding resources to groups as required. This gives data scientists more flexibility and access to response data at any given time.

Real-time analytics will also aid marketers in identifying underlying threats and problems in their strategies. Marketers will have to conduct a SWOT analysis and continuously optimize their campaigns to suit them better.
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Data security, regulatory compliance, and protecting consumer privacy

Protecting market data from a rise in cybercrimes and breaches are crucial problems to be addressed in 2021. This year has seen a surge in data breaches that have damaged businesses and their infrastructures to different levels. As a result, marketers have increased their investments in encryption, access control, network monitoring, and other security measures.

To help comply with the General Data Protection Regulation (GDPR) of the European Union, the California Consumer Privacy Act (CCPA), and other regulatory bodies, organizations have made the shift to platforms where all consumer data is in one place. Advanced encryptions and stateless computing have made it possible to securely store and share governed data that can be kept in a single location. Interacting with a single copy of the same data will help compliance officers tasked with identifying and deleting every piece of information related to a particular customer much easier and the possibility of overseeing something gets canceled.

Protecting consumer privacy is imperative for marketers. They offer consumers the control to opt out, eradicate their data once they have left the platform, and remove information like location, access control to personally identifiable information like email addresses and billing details separated from other marketing data.

Predictive analytics

Predictive analytics’ analyzes collected data and predicts future outcomes through ML and AI.  It maps out a lookalike audience and identifies which strata are most likely to become a high-value customer and which customer strata has the highest likelihood of churn. It also gauges people’s interests based on their browsing history. With better ML models, predictions have become better overtime, leading to increased customer retention and a drop in churn.

According to the research by Zion Market Research, by 2022, the global market for predictive analytics is set to hit $11 billion.

Investment in first-party data

Cookies-enabled website tracking led marketers to know who was visiting their website and re-calibrate their ads to these people throughout the web.

However, in 2020, Google announced cookies would be phased out of Chrome within two years while they had already removed them from Safari and Firefox.

Now that adding low-friction tracking to web pages will be tough, marketers will have to gather more limited data. This will then be then integrated with first-party data sets to get a rounded view of the customer. Although a big win for consumer privacy activists, it is difficult for advertisers and agencies to find it more difficult to retarget ads and build audiences in their data management platforms.

In a digital world without cookies, marketers now understand how customer data is collected, introspect on their marketing models, and evaluate their marketing strategy.

Emergence of contextual customer experience

These trends in marketing analytics have become more contextually conscious since the denunciation of cookies. Since marketers are losing their data sets and behavioral data, they have an added motivation to invest in insights.

This means that marketers have to target messaging based on known and inferred customer characteristics like their age, location, income, brand affinity, and where these customers are in their buying journey. For example, marketers should tailor messaging in ads to make up consumers based on the frequency of their visits to the store.

Effective contextual targeting hinges upon marketers using a single platform for their data and creates a holistic customer profile.

Reliance on third-party data

Even though there has been a drop in third-party data collection, marketers will continue to invest in third-party data which have a complete understanding of their customers that augments the first-party data they have.

Historically, third-party data has been difficult to source and maintain for marketers. There are new platforms that counter improvement of data like long time to value, cost of maintaining third-party data pipelines, and data governance problems.

U.S. marketers have spent upwards of $11.9 billion on third-party audience data in 2019, up 6.1% from 2018, and this reported growth curve is going to be even steeper in 2021, according to a study by Interactive Advertising Bureau and Winterberry Group.

Conclusion

Marketing analytics enables more successful marketing as it shows off direct results of the marketing efforts and investments.

These new marketing data analytics trends have made their definite mark and are set to make this year interesting with data and AI-based applications mixed with the changing landscape of marketing channels. Digital marketing will be in demand more than ever as people are purchasing more online.

Frequently Asked Questions

Why is marketing analytics so important?

Marketing analytics has two main purposes; to gauge how well your marketing efforts perform and measure the effectiveness of marketing activity.

What is the use of marketing analytics?

Marketing analytics help us understand how everything plays off of each other and decide how to invest, whether to re-prioritize or keep going with the current methods.

Which industries use marketing analytics?

Commercial organizations use it to analyze data from different sources, use analytics to determine the success of a marketing campaign, and target customers specifically.

What are the types of marketing analytics tools?

Some marketing analytics’ tools are Google Analytics, HubSpot Marketing Hub, Semrush, Looker, Optimizely, etc.

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Nimbus Data develops advanced flash memory solutions that power data-driven innovation. Our solutions include ExaFlash® All-Flash Arrays and ExaDrive® Solid State Drives. Nimbus Data helps hundreds of world-leading companies accelerate data storage, simplify data management, and improve data protection for cloud infrastructure, analytics, AI, rich content, scientific computing, and much more.

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Article | June 24, 2022

Business intelligence, or the art of using data to discover insights, has become a crucial part of developing business strategy for leading organizations, including government agencies, Fortune 500 companies, and educational institutions. Businesses that want their operations to be more informed and backed by data must use business intelligence. This is done with the help of a BI strategy. A BI strategy is a blueprint that helps you decide how to use data in your company. You need a business intelligence strategy, as merely choosing a BI technology is not enough to leverage the benefits of business intelligence. Many organizations struggle with implementing business intelligence solutions because of a lack of a proper BI strategy. The Downside of Not Developing a BI Strategy A business intelligence strategy will help you to address all your needs and problems related to data, develop a cohesive system, and maintain it. 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BUSINESS INTELLIGENCE

Embedded Business Intelligence- A Guide to an Upgraded BI

Article | April 12, 2022

Businesses are becoming more data-driven, and the potential to use data and analytics to differentiate market leaders is becoming increasingly important. Customers are demanding actionable insights into the apps, products, and services they use daily, and businesses of all sizes are trying to meet these demands. Product managers understand they must provide their consumers with concrete insights derived from processed data. However, creating these features from scratch can sometimes be a difficult task. The answer is simple: add an analytics platform into your core product, like integrated business intelligence. Embedding an analytics system may also help a company get more value out of the data it has already spent time acquiring, keeping, and analyzing. Embedded business intelligence is among the most important use cases in the broader data analytics sector, as companies leverage the technology to build extranet apps and give analytics as part of a larger business application. 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With the help of embedded business intelligence, you can check and analyze business data and adjust visuals on the go by utilizing dynamic data visualization. Drill-down, filtering, and search are interaction options available on these embedded BI tools, allowing to freely explore reports and dashboards and extract crucial business insights. Should You Build In-House Embedded BI or Buy a Third-Party? When it comes to deploying an embedded BI tool, you have two options. Organizations can either develop their products in-house or buy them from a third party. Building an embedded BI platform from scratch might take a long time and may be costly like most businesses with software as their key competence, general companies should first explore commercially available embedded BI solutions. Also, purchasing embedded BI allows businesses to focus on their core competencies while leveraging the tools to deliver embedded BI features to users faster. Top Embedded Business Intelligence Tools for C-Suite (Include cases) Many embedded BI tools are available in the market but choosing the most appropriate tool from among them is a major task. So, to end your search for the perfect embedded BI tool, you can check out the list below. We have also included case studies of these embedded business intelligence applications for you to make a better decision. Sisense BI Helps Crunchbase Get Access to the Right Data across the Organization In the business world, Crunchbase is the most important database, and they needed a powerful platform to get all their data together, so they went with Sisense BI. Crunchbase was able to take its analytics to the next level using Sisense for Cloud Data Teams, which allowed them to access their data, from their marketing stack to Salesforce platforms to website impression data, to create a holistic view of their business and customers. It's also good for Crunchbase's marketing team because the interface of Sisense is easy to use. This makes it easy for business users to understand data on their own and use it for decision making. Microsoft Power BI Helps Heathrow Airport in Making Travels Less Stressful Heathrow Airport serves as the U.K.'s international gateway. Heathrow Airport serves 80 million passengers each day, and the airport is utilizing Microsoft Power BI and Microsoft Azure to make travel less stressful for travelers. With the help of Power BI, Heathrow Airport gets real-time operational data for its employees. It enables to assist passengers in navigating the airport despite bad weather, canceled flights, and other delays. For example, a disturbance in the jet stream caused a delay of 20 flights, resulting in 6,000 more passengers arriving at the airport at 6:00 p.m. Previously, employees at immigration, customs, luggage handling, and food services would not be aware of the unexpected passengers until they arrived, forcing them to make do with what they had. But now, all these employees are notified one to two hours prior so that they can arrange extra workers, buses, food, and other resources to assist with the inflow. Qlik Sense Helps Tesla Users Get Information About Tesla SuperCharge Stations Tesla customers use a Qlik Sense application to track the locations of Tesla supercharger stations and obtain information about them. The software uses real-world road network computations and overlap predictions based on Tesla vehicles' typical battery range. This app needs to work with Qlik GeoAnalytics because it displays supercharging stations on a map. Charger status is also displayed on the dashboard. You can make choices based on where you are on the dashboard, and the program will respond based on the associations between data sets. Closing Lines Embedded business intelligence has significant potential for small firms and enterprise powerhouses alike. Embedded analytics outperforms previous solutions in extracting the most value from your data and enabling today's crucial business choices. However, long-term use of embedded analytics will require a significant amount of work on the part of the C-suite. The C-suite will have a positive influence and assure continued analytics success by applying predictive analytics, integrating machine learning, and encouraging a data-driven culture. FAQ Is there a limit to embedding analytics into existing applications? Embedded BI products have less limitations than independent tools and are mostly more capable. Machine learning, NLP, and artificial intelligence (AI) are included in the current, more modern generation of embedded systems, although these abilities are generally not included in standalone solutions. What should purchasers keep in mind while selecting a vendor? Users who have only used a typical BI or data analytics tool should be wary of colorful charts and data visualizations. Buyers must think about the long term, particularly when it comes to product maintenance, making changes across instances, and offering a simple yet tailored experience to the end-user. Are embedded business intelligence solutions easy to set up? The beauty of embedded analytics and BI solutions is quick and simple to deploy. You can either add them to an existing system or design a new one based on your requirements.

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9Rooftops Launches Trajectory, New Data Driven Marketing Division

9Rooftops | October 08, 2021

Today, 9Rooftops, a leading integrated marketing agency, announced the launch of their new data-driven marketing division, Trajectory, which uses data science and machine learning to bring the most advanced analytical methods to common marketing issues. As marketers continue to shift strategies in response to privacy protections, business intelligence is transforming, and they need to understand why and what levers can be pulled in response to these changes. Trajectory helps clients unlock the true potential of their data, delivering unexpected insights that connect brands to their consumers. Co-led by young industry titans Amy Nixon, SVP, Director of Strategy, and Josh MacCarty, Vice President, Director of Data Science and Analytics, the new division is excited to help brands get the most from their data, using a flexible, scalable model. Nixon and MacCarty will continue to provide data marketing services to existing 9Rooftops clients, who are already leveraging Trajectory’s marketing strategies. “There’s an art and science to what we do – by harnessing the power of data and adding context and strategy, we deliver a data-backed strategic roadmap,” said Amy Nixon, SVP, Director of Strategy. “Trajectory was born from the idea that marketers have fundamental questions they ought to be able to answer but increasingly, can’t. ‘What was the effect of this program on sales?’ ‘How can I generate more traffic?’ Whether it’s identifying marketing attribution or forecasting with confidence, Trajectory provides answers to make marketers’ jobs easier.” “Brands with access to transactional data are sitting on a literal treasure trove of strategic assets and have only partially transformed this information – sometimes, not at all. We’ll help companies gain a significant advantage by leveraging data in highly competitive categories – this is where Trajectory will play an instrumental role in refining strategic analysis.” Kevin Meany, CEO at 9Rooftops Nixon hails from 9Rooftops and prior, FCB Chicago – she has more than 15 years of experience partnering with marketers to best reach consumers and has worked across CPG, retail, healthcare, wine/spirits and more, on brands including SC Johnson, Kraft, Bayer and International Truck. MacCarty is an economist and data science leader and has been bridging the art and science of data analysis for more than 12 years. Uniquely balanced between business acumen and economics, Josh has been recognized as DMN’s “National 40 Under 40 Marketers” for his use of data science to solve business problems and is a three times best-seller on learning platform Udemy for his course, “Foundations of Machine Learning.” MacCarty stated, “Whether you know exactly what you need, or just know you want to get more from your data, we work with clients of all sizes and levels of data sophistication – the breadth of our capabilities is sweeping. We have a top-tier data science team of machine learning experts, econometricians, statisticians, analysts and more who help clients navigate strategic data opportunities to elevate marketing and improve ROI, far surpassing data alone.” 9Rooftops, best known for their work with established brands like Qdoba Mexican Eats, New Amsterdam Vodka, Jelmar/CLR, Belle Tire, The Coca-Cola Company and Barilla, is headquartered in Chicago. About Trajectory Headquartered in Chicago, IL, Trajectory is a data-driven marketing consultancy of 9Rooftops, aiming to uncover valuable insights, fuel smarter marketing strategies and spark growth. Trajectory applies data science and machine learning to bring the most advanced analytical methods to common issues in marketing and helps clients unlock the true potential of their data, delivering unexpected insights that connect brands to their consumers. For more information about Trajectory, visit trajectorydata.com and LinkedIn. About 9Rooftops Headquartered in Chicago, IL, 9Rooftops is an integrated marketing agency, known for breakthrough creative that gets results. Enhanced with an in-house, multimedia content studio, data-driven health division and full-service branded media practice, 9Rooftops has offices in nine cities and more than 250 employees.

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Adverity Breaches Marketing Analytics Top 10, Named Grid Leader in G2 Summer 2020 Report

Adverity | June 29, 2020

Adverity, a leading marketing data intelligence platform, has been recognized as the leader in the Momentum Grid Report for ETL Tools in the G2 Summer 2020 Report. G2 is a business product review and ranking platform where verified users share their experiences and feedback on software and SaaS tools. Rankings are based on how likely users are to recommend the service to others, user satisfaction and product popularity. The Summer 2020 Report sees Adverity move into the top ten in the Grid Report for Marketing Analytics at 9th place. In the Momentum Grid Report for Marketing Analytics, which is dependent on both review growth and employee growth, Adverity now ranks in 4th position - the same position it holds for the Grid Report for E-commerce Data Integration. The marketing data platform also remains in the top three of the Grid Report for ETL Tools.

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SALESFORCE LAUNCHES NEW HYBRID CMS PLATFORM 'SALESFORCE CMS

DECK 7 | February 04, 2020

Demand owns content, and with the release of 'Salesforce CMS', it’s clear that Salesforce is putting the control squarely with demand, not to mention delighting the creative marketer with more power through additional tools for creating content that are expected to work well right out of the box (er… cloud). Customers have become accustomed to consuming content across multiple channels and platforms which requires marketers to provide for seamless integration of their content. Enterprises have always been challenged by using multiple systems for their content management. Salesforce CMS addresses these common content challenges and promises more.

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BIG DATA MANAGEMENT

9Rooftops Launches Trajectory, New Data Driven Marketing Division

9Rooftops | October 08, 2021

Today, 9Rooftops, a leading integrated marketing agency, announced the launch of their new data-driven marketing division, Trajectory, which uses data science and machine learning to bring the most advanced analytical methods to common marketing issues. As marketers continue to shift strategies in response to privacy protections, business intelligence is transforming, and they need to understand why and what levers can be pulled in response to these changes. Trajectory helps clients unlock the true potential of their data, delivering unexpected insights that connect brands to their consumers. Co-led by young industry titans Amy Nixon, SVP, Director of Strategy, and Josh MacCarty, Vice President, Director of Data Science and Analytics, the new division is excited to help brands get the most from their data, using a flexible, scalable model. Nixon and MacCarty will continue to provide data marketing services to existing 9Rooftops clients, who are already leveraging Trajectory’s marketing strategies. “There’s an art and science to what we do – by harnessing the power of data and adding context and strategy, we deliver a data-backed strategic roadmap,” said Amy Nixon, SVP, Director of Strategy. “Trajectory was born from the idea that marketers have fundamental questions they ought to be able to answer but increasingly, can’t. ‘What was the effect of this program on sales?’ ‘How can I generate more traffic?’ Whether it’s identifying marketing attribution or forecasting with confidence, Trajectory provides answers to make marketers’ jobs easier.” “Brands with access to transactional data are sitting on a literal treasure trove of strategic assets and have only partially transformed this information – sometimes, not at all. We’ll help companies gain a significant advantage by leveraging data in highly competitive categories – this is where Trajectory will play an instrumental role in refining strategic analysis.” Kevin Meany, CEO at 9Rooftops Nixon hails from 9Rooftops and prior, FCB Chicago – she has more than 15 years of experience partnering with marketers to best reach consumers and has worked across CPG, retail, healthcare, wine/spirits and more, on brands including SC Johnson, Kraft, Bayer and International Truck. MacCarty is an economist and data science leader and has been bridging the art and science of data analysis for more than 12 years. Uniquely balanced between business acumen and economics, Josh has been recognized as DMN’s “National 40 Under 40 Marketers” for his use of data science to solve business problems and is a three times best-seller on learning platform Udemy for his course, “Foundations of Machine Learning.” MacCarty stated, “Whether you know exactly what you need, or just know you want to get more from your data, we work with clients of all sizes and levels of data sophistication – the breadth of our capabilities is sweeping. We have a top-tier data science team of machine learning experts, econometricians, statisticians, analysts and more who help clients navigate strategic data opportunities to elevate marketing and improve ROI, far surpassing data alone.” 9Rooftops, best known for their work with established brands like Qdoba Mexican Eats, New Amsterdam Vodka, Jelmar/CLR, Belle Tire, The Coca-Cola Company and Barilla, is headquartered in Chicago. About Trajectory Headquartered in Chicago, IL, Trajectory is a data-driven marketing consultancy of 9Rooftops, aiming to uncover valuable insights, fuel smarter marketing strategies and spark growth. Trajectory applies data science and machine learning to bring the most advanced analytical methods to common issues in marketing and helps clients unlock the true potential of their data, delivering unexpected insights that connect brands to their consumers. For more information about Trajectory, visit trajectorydata.com and LinkedIn. About 9Rooftops Headquartered in Chicago, IL, 9Rooftops is an integrated marketing agency, known for breakthrough creative that gets results. Enhanced with an in-house, multimedia content studio, data-driven health division and full-service branded media practice, 9Rooftops has offices in nine cities and more than 250 employees.

Read More

Adverity Breaches Marketing Analytics Top 10, Named Grid Leader in G2 Summer 2020 Report

Adverity | June 29, 2020

Adverity, a leading marketing data intelligence platform, has been recognized as the leader in the Momentum Grid Report for ETL Tools in the G2 Summer 2020 Report. G2 is a business product review and ranking platform where verified users share their experiences and feedback on software and SaaS tools. Rankings are based on how likely users are to recommend the service to others, user satisfaction and product popularity. The Summer 2020 Report sees Adverity move into the top ten in the Grid Report for Marketing Analytics at 9th place. In the Momentum Grid Report for Marketing Analytics, which is dependent on both review growth and employee growth, Adverity now ranks in 4th position - the same position it holds for the Grid Report for E-commerce Data Integration. The marketing data platform also remains in the top three of the Grid Report for ETL Tools.

Read More

SALESFORCE LAUNCHES NEW HYBRID CMS PLATFORM 'SALESFORCE CMS

DECK 7 | February 04, 2020

Demand owns content, and with the release of 'Salesforce CMS', it’s clear that Salesforce is putting the control squarely with demand, not to mention delighting the creative marketer with more power through additional tools for creating content that are expected to work well right out of the box (er… cloud). Customers have become accustomed to consuming content across multiple channels and platforms which requires marketers to provide for seamless integration of their content. Enterprises have always been challenged by using multiple systems for their content management. Salesforce CMS addresses these common content challenges and promises more.

Read More

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