“I feel the need – the need for speed” - Peter “Maverick” Mitchell, Top Gun, 1986
What was true for a fighter pilot in 1986 is true for today’s marketer. Speed can be a competitive advantage, but speed alone can land you in the wrong place - fast. Like a fighter pilot, the best marketing professionals need speed, deep knowledge and accuracy. Skillful data analysis enables you to stay ahead of the competition and meet your customer where they are going.
How can you move faster more strategically and take into account the onslaught of ever-increasing marketing data? The answer lies in having and using the right tools with three fundamental features to enable you to make sound decisions at the speed of light.
Complete Data Ingestion
To really know all of your customers and stay ahead of your competition, you must have global visibility of all your marketing data in one place for a complete picture. It’s painful and time consuming to jump from data to data and tool to tool. For example, looking at social media and a different place for your PPC info and another for media buys. With all your data in one place you’re able to see how your media spend is playing off each other and what’s working well.
But it’s more than just all of the data in one place. You need to make sure the data is cleansed as it comes in. Otherwise, “garbage in, garbage out.” Make sure the ingested data is normalized and is comparable.
Predictive Analytics and Clear Data Visualization
Once you have all your data in the same place, you still just have a lot of data. Raw data without context is impossible to decipher and no human, no matter how brilliant, can possibly digest it all and transmit insightful projections. What’s needed is predictive analytics and supporting interactive data visualization tools that allow you to analyze the data to take into consideration each and every scenario. You should be able to account for outliers such as suppressing one-time event data that may unduly skew a trend, drill down into specific sub-segments of data types (e.g., social data only) or zoom out to look at the entire picture of all marketing data.
Predictive analytics in combination with data visualization gives you the ability to apply your knowledge and expertise while analyzing the millions and millions of data points coming in.
Comprehensive Reports and Data Storytelling
Your valuable time should be spent analyzing the data, sharing with others and making strategic decisions. You should not waste time on the mechanics of report creation, which without the right tools will be too basic reports to enable thoughtful analysis. Further, if you are pulling your marketing data from several places, you are spending hours trying to bring together and standardize reports from different platforms. To efficiently collaborate with your colleagues and keep everyone on the same page, you should have one main dashboard providing global visibility.
We know these are the key characteristics -- complete data ingestion, predictive analytics and clear data visualization and comprehensive reports and dashboards -- are required for superior marketing results, which is why Velocidi’s marketing intelligence tools are built with these essential ingredients baked in.
As you march forward more effectively reaching your target audiences, remember John Adams’ words of wisdom, “Facts are stubborn things, and whatever may be our wishes, our inclinations or the dictates of our passions, they cannot alter the state of facts and evidence.”
Make sure you have all the facts, your conclusions are rooted in current data and you are using tools that enable you to make fast, accurate decisions.