Analytics are increasingly the lifeblood of a CMO’s accountability process. And we’ve seen marked advancements in these tools, as marketers turn up the pressure for more usable insight.
In the aggregate, I see four key trends shaping the analytics space:
1. C-level involvement. The corner office will go from interested to involved to participating in marketing decision making. The analytics underlying resource allocation recommendations will need to more clearly articulate and justify what you need, why you need it, and yes, the payback. They will have to speak for themselves, sans the geek interface.
2. Continuous marketing measurement. The near future of analytics will go beyond one-time, “what’s going on today” metrics to present real-time continuous results. This constant flow is critical to overcoming the challenges of today’s fractured media environment. A new ‘test and learn’ framework is also helping marketers capture feedback and adjust to it more quickly.
3. Cheaper, faster models. Similar to Moore’s Law, the speed of analytics models will continue to increase and the capabilities will improve, while the price will gradually decline. Specifically, we anticipate deeper support for data integration and “what if” scenarios.
4. Software tailored to your needs. You’ve been made to walk the walk. Soon, the analytics vendors will be doing it too. While this may be the trend furthest down the pike, we feel the survival of today’s analytics tools is dependent on their ability to be “componentized” to create relevance and meet the unique needs of individual marketers.
None of these trends will cause a definitive paradigm shift next week, or even next month. Rather, the change will be subtle and incremental. But a look back 12 months from now should show considerable advancements beyond today.
For a deeper analysis of these four predictions, go to: