Grounded in Analytics, Explosive in Creativity: Use of Information and Data

Grounded in Analytics, Explosive in Creativity: Use of Information and Data

DATA MINING - Uses techniques information retrieval, artificial intelligence, pattern recognition and statistics to look for correlations between different data enabling the acquisition of beneficial knowledge to a company or individual.

• For a business, data mining can be an important tool that enhances innovation and profitability

• The use of data mining is quite common in larger databases, and the end result of their use can be displayed through rules, assumptions, hypothesis, decision trees, dendrograms and other measurable tools

• Well-executed data mining accomplishes tasks such as anomaly detection, association rule learning, clustering, classification, regression, and summarization.

• The data mining process usually occurs using data contained within the data warehouse. This process allows marketing managers to make decisions based in these hidden patterns not clearly to the analytical human skill set.

INFORMATION-DRIVEN MARKETING - In order to be more customer-focused, internet strategies follow a hierarchy in which each stage allows more persuasive communication with the customer and more compelling ways in which to create value for that customer. The more you learn about your customer, the more you can develop more focused strategies and more target promotional efforts.

• Static informational marketing material and interaction are a viable beginning but it should develop through the hierarchy reaching the transaction stage where you start building your customer database and the beginning of the conversion and retention process.

• Personalization and customization are a reasonable step to attract and retain customers

• Individualized products and services can be created through the amount of information captured about individual customers

Customers have more options than ever to source, research, and purchase the goods and services they want. Strategies that encompass a blend of online and offline analytical techniques can be used to better understand customer's preferences and make better marketing decisions and programs. Analytics is the future for businesses in all levels, it gives you the mechanisms to target your true customers, marketing efforts and succeed in different markets. Considering it is a recent field in the business world and has an immeasurable versatility, marketers can explore the use of analytics in a variety ways to optimize the Return of Investment (ROI) in marketing performance.

In the end it all comes to making good decisions, better decisions.

Talking in a personal level, to cause an impact in the work environment either you have your employee save or make money. Information-driven marketing is a way companies can address a number of customer segments with messaging that drives sales and revenues among new and existing customers. Having the ability to use data mining softwares and understanding customer database can help you succeed, show top management your value and go up in the organizational ladder.

Article Source: http://EzineArticles.com/expert/Andre_Costa/2268354

Article Source: http://EzineArticles.com/9365022

_(By Andre Costa).