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Posts tagged with Big Data

Despite big data investments, retailers struggle with inventory issues

Retailers are collecting more data than ever, but putting that data to good use is apparently proving to be more challenging than many anticipated.

According to a study conducted by IHL Group for DynamicAction, retailers around the world lost well over half a trillion dollars in the past year due to out-of-stock inventory.

That's a jump of nearly 40% from 2012. At the same time, they lost just under $500bn due to overstocks, an amount nearly a third greater than in 2012.


Three key steps to getting your marketing data & analytics 'just right'

When I first started working in digital marketing back in 2006, nobody cared about integrated data. Heck, "big data" hadn't even been invented yet!

Well, maybe that's a bit of an exaggeration... but the reality was that marketing efforts were often siloed, disjointed or some messy combination of the two. 


Data analysts vs. data scientists: What’s the difference?

To develop an effective multichannel marketing strategy, brands have to recruit people who can do magical things with data.  

But is it data analysts they want, or data scientists? And how many really know the difference? 


Data hoarding & consumer trust: are they mutually exclusive?

Remember all those 'data is the new oil' articles?

Well, to continue the tawdry analogy, is that oil burning with a clean flame?

Are companies using data to improve services for customers, or is it merely about advertising to them? And how will data brokerage and sharing need to change in the coming years?


Data storytelling: Is it impossible without creativity?

Marketing Week hosted the Data Storytelling conference in September, which attracted a large crowd of likeminded professionals from across both marketing and data fields.

The agenda was positioned to explain the concept of mobilising data through building greater understanding of the customer and then exploiting insights using informed campaigns.

It was a brave ambition that covered a wide gulf of technologies and opportunities.

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Improving healthcare through social media tracking

In a recent survey of marketers, Econsultancy and Ogilvy CommonHealth examined how prepared healthcare companies are for digital change.

You can read the results here. But what about practical examples of change within healthcare marketing?

Well, let's take a look at some of the work done in social media analysis.

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How is healthcare marketing changing in the digital world?

Healthcare marketing has inherent difficulties. 

In an industry where the product takes centre stage, how can a company create a meaningful corporate brand that adds value? And beyond the product, what go-to-market innovations can be found in a realm where data security is paramount?

These are just two of the questions facing healthcare and pharmaceutical companies as marketers evolve strategy in response to consumer behavior.


Data driven experiences: think people, not users

Many of today’s businesses find themselves overwhelmed by data. 

They are dealing with multiple data sets which are often collected separately, run in silos, and with huge levels of duplication. 

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Which data challenges cause the most pain for marketers?

With exponential improvements in technology over the last few years, it is an exciting time for marketers. 

But all that advancement creates a number of challenges, too. So much so that 68% of marketers believe the job is more stressful than it was five years ago.


10 behavioural marketing trends & talking points from Malaysia

The third of our four Asia-Pacific behavioural marketing roundtable events took place in Kuala Lumpur earlier this week.

Senior-level marketers gathered to discuss the trends and challenges stemming from marketing automation, email and behavioural marketing.

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Big data is broken, but whose job is it to fix it?

The last few years has seen the marketing industry turn its attention omni-channel marketing, attribution and personalisation as part of a whole new set of tools offered to maximise the opportunity afforded by online advertising.

However, a recent survey undertaken by Ensighten and Econsultancy for the Customer Experience Optimization report revealed that marketers are overwhelmed by data.


Let data be the fuel to boost conversion rates

Most retailers already have the secret to higher conversion rates: data.