Data Analytics Flashcards
What is marketing information management?
Marketing information management refers to the act of compiling, organizing, storing, analyzing, and reporting analytics based on marketing information and data. Marketers can compile this from data studies, sales numbers, campaign results, marketing research, and other types of data projects.
What is complex data analytics?
Use of advanced algorithms to process big data structures
What is a marketing information system?
A marketing information system is the ideal approach for marketing information management. In short, this system is responsible for keeping your marketing information organized and actionable
Why is marketing information management useful?
Decreases the chance of skewed data and uninformed decisions. Because marketing data frequently covers a variety of topics — customer demographics, competitor analysis, campaign analysis, etc. — it can be easy to confuse data points, leading to overspending and incorrect forecasts.
Investing in a marketing information management system can lower the possibility of negative effects, which increases a company’s possibility for growth.
What is marketing information?
Marketing information is data that companies can track, organize, and analyze. There are three main types of marketing information: internal data, competitive intelligence, and marketing research.
