Modern digital tools for marketing analytics
Year: 2024
Type: article
Abstract: The aim of the article. The use of modern analytical platforms and digital tools in marketing analytics is becoming an integral part of marketing activities, enabling companies to enhance the efficiency of their operations and remain competitive in the market. This article aims to explore contemporary approaches and digital tools for marketing analytics, as well as to identify their role in strategic decision-making processes. Analysis results. The article analyzes modern approaches to marketing analytics and its role in improving business competitiveness. It examines the key stages of the analytical process, including defining the goals and objectives of marketing analytics; selecting methods and tools; collecting and processing data; analyzing data; interpreting results and preparing recommendations; making managerial decisions; designing organizational changes; and monitoring and evaluating the effectiveness of those changes. The methods and tools used at each stage of marketing analytics are investigated, with particular attention paid to the study of digital analytics tools. The article also provides a comparative analysis of popular analytical platforms (Power BI, Tableau, Looker Studio, Snowflake), which help businesses efficiently process and visualize data, make informed decisions, and improve the effectiveness of marketing strategies. Modern digital marketing analytics tools, such as Power BI, Tableau, Looker Studio, and Snowflake, offer a variety of capabilities for data collection, processing, and visualization, allowing companies to gain deep insights into market trends and consumer behavior. Power BI is notable for its integration with other Microsoft products and accessibility for small and medium-sized businesses. Tableau stands out for its powerful data visualizations and ability to handle large volumes of information. Looker Studio is an effective tool for integrating Google products and creating interactive reports. Snowflake provides scalability and performance for big data, allowing for complex analysis and data integration from various sources. The choice of a specific tool depends on the company's needs, the volume of data, and the exact analytical tasks that businesses face in today's digital environment. The main areas of application for digital tools in marketing analytics include systematic data collection and process automation; conducting various types of marketing analysis; identifying patterns, correlations, and causal relationships in data; creating interactive and dynamic visualizations; developing marketing strategies and plans with an analytical foundation for decision-making; assessing the effectiveness of marketing campaigns and identifying the most effective communication channels; monitoring brand reputation, analyzing customer feedback, and measuring consumer satisfaction; and evaluating the effectiveness of digital initiatives. The selected marketing analytics tool should offer advanced analysis capabilities and customization according to business goals and KPIs, feature a user-friendly interface, and support data visualization. Real-time analysis and reporting are essential to help businesses make timely decisions based on the most up-to-date data. Conclusions and direction for further research. The use of modern digital tools enables marketers to gain deeper market insights, respond to changes promptly, and optimize marketing strategies. The implementation of analytical approaches at all stages of the marketing process contributes to well-informed managerial decisions and the creation of long-term competitive advantages.
Author: T. V Sak
Institution: Lesya Ukrainka Volyn National University
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4409498098