ABSTRACT
The world of marketing has undergone a different dimension with the adoption of analytics into the field. Marketing analytics enables marketers to adopt technology to evaluate the initiatives of the organization through consolidating data across various channels and gives analytical insights providing rich information to take well informed decisions. The adoption of technology has resulted in availability of high data across various business functions. Marketers can make use of the high volume of data across various channels to take well informed decisions and function in a proactive manner rather than in a reactive mode, thereby improving business functions. There are various applications for marketing analytics such as cross-selling, upselling, can serve as a recommendation engine, Attribution modeling, pricing analytics, demand forecasting, Marketing mix model, Customer segmentation and product segmentation, Customer analytics, Churn analytics, Purchase probability scale and many more areas. These application areas encompass almost all the marketing functions and will give greater insights in the marketing domain. Each of these functions can give a marketer interesting insights and adoption of marketing analytics can help marketers to create better and efficient marketing campaigns for their products. Application of marketing analytics 324across all the spectrums can help in personalization of marketing content and can result in profitable business. The use of marketing analytics can result in assessing how marketing activities are performing as of date and what is to be done to improve the marketing activities and what should be done to attract more customers, improve client satisfaction and remain profitable.
