With emerging technologies, the need for data analytics is critical, which helps organizations uncover consumer patterns, trends, unforeseen correlations and other valuable consumer insight. This type of information can be leveraged not only by marketing, but also in other areas such as customer service and product development.

For data analytics to be successful, there are two levels required in this process, including:

• The algorithms that help connect the two technologies and are able to deliver the benefits to a marketer from a tactical perspective.
• Business analytics that ensures the algorithms are actually delivering the value and meeting the business objectives that were originally outlined.

Business analytics helps support the marketing strategy for the organization ensuring long-term growth. Both parts of the analytics mentioned above need to be implemented to ensure optimal success. While many organizations are joining the bandwagon of big data and investing millions – they sometimes lower their emphasis on the importance of analytics, which is a mistake.

Excerpt from Brand Quarterly’s Emerging Technologies Driving New And Innovative Marketing Strategies