The Importance of Data Analytics in Digital Marketing
Data has a huge potential if it is used accurately and wisely. It’s not hard to see that now many organizations are doing their best in order to precisely analyze their data.
Data analytics plays a crucial role in forming the right marketing strategy and landscape. Before we understand the importance of data analytics in digital marketing, let’s define data analytics!
Data Analytics in Digital Marketing and in General
Data analytics is the process of organizing and analyzing a huge amount of data for business purposes. This will help decision makers to thoroughly analyze the data and make predictions. According to these predictions vital decisions can be made risking thousands of dollars if not more.
Data analysts are the specialists who are responsible for guiding core business units and risk management.
All these processes happen in:
- Information Technology (IT)
- Human Resources (HR)
- Sales
- Accounting, and
- Marketing, of course!
Broadly speaking data analytics and digital analytics can be considered tools, software, or digital platforms that collect and analyze data. Today Google Analytics, Hubspot, Hotjar, Adobe Analytics and several others provide marketing analytical service.
As you have already understood, data analytics is a crucial process for every company. Data analysts with a special level of responsibility and accuracy, are a huge investment in a company .
Data Analytics in Digital Marketing
Nowadays companies are investing their time and resources to improve the potential of digital marketing via several channels and strategies. There have been big changes and an evolution on social media affecting customer choices, buying patterns etc.
Web marketing plays a vital role in companies’ lives as many people are always looking for something online. We spend a lot of time reading and comparing things on the internet. This is where structured online marketing and data is important. The right data will direct people to the right decision. Digital analytics in digital marketing helps the companies generate actionable insights from the information that covers the (potential) customers’ journey.
So let’s look at several reasons why data analytics is crucial in digital marketing.
#1 Knowing your customers
Data analytics in digital marketing plays an important role to better know your customers. If you look carefully at your data, you will get to know many secrets about your customers. You can uncover their behavior and intentions. When you know your customers better you will guess what may make them more interested in your product.
#2 Targeting better
Data analytics can help you understand what appeals to your customers. What form of advertising reaches your consumers or potential ones? Data will let you know what kind of ads worked.
#3 Accurately manage your finances
Data analysis can help you run your business more smoothly and effectively. Detailed data will help you understand which sector needs reduction of resources. At the same time you will understand which one needs more attention.
#4 Managing and personalizing customer relationship
Data analytics in digital marketing plays a great role in customer relationships. When you have more access to extra information: gender, age, geographical location etc. things get easier. You can obtain more detailed information from this data.
Today customers are becoming more keen on sharing information on the internet. Based on this, they are encouraging more customized relationships with different businesses. This is why many brands are now using personalized approaches to gain a better ROI. Thanks to this approach customers are feeling more appreciated and important.
#5 Making better marketing decisions and strategies
Marketing decisions should be made according to past experience. This is where you can see the huge importance of data analytics in digital marketing and marketing in general. The data will give you a relationship between past and existing data to make more informed decisions.
By looking at your customers’ journey on the internet, you can determine the necessary changes to be made.
#6 Obtaining accurate data
Quality data analytics is also important for obtaining accurate data and making smart decisions. Thanks to the accurate data one may be able to determine:
- How to strengthen the values of the company,
- How to find the best business solutions,
- How to have more creative and innovative ideas and sales,
- How to create more innovative ideas.
What Do Data Analysts Do? Should I Become a Data Analyst?
Data analysts are responsible for tasks such as:
- Cost revenue
- Website traffic
- Cost per click
- Return on advertising spend and more.
Here are some key skills analysts need to have in order to succeed in their job:
- Analyzing big amounts of data,
- Articulating analytical conclusions and strategy suggestions,
- Employing data analytics solutions for business intelligence and forecasting,
- Practicing ethical standards with data and analytics,
- Using predictive analytics for combating core business problems and more.
As you could notice, in order to become a quality data analyst one needs a lot of attention to detail. If you want to pursue a career in data analytics, participate in a comprehensive “Data Analytics Full Course” at BDG. It will provide you with 5 months of intensive and practical lessons. At the end of the course you will acquire knowledge on Excel, SQL, Power BI, Tableau, Python and more. You will improve your analytical skills and get ready for future employment.
So, as you can see, there is a lot to be done with data analysis. If you want to start your career path do not hesitate to contact us for consulting.
