IMPROVING THE QUALITY OF MARKETING ANALYTICS SYSTEMS

Abstract

This review aimed at providing a systematic review of the current status of marketing analytics systems, and identifies possible areas of improving their quality. A total of 49 papers were shortlisted and reviewed under different sections. The following general trends could be noted. Marketing analytics involves complex processes of analysing large volume of qualitative and quantitative data over a period of time to evaluate the success of marketing activities in terms of firm performance. Many successful firms have used this technique and this is one reason behind their improved performance. Many leading business organisations are using marketing analytics, the full potential is yet to be realised in spite of continuous arrival and further development of new software technologies and processes of marketing analytics. Especially, big data analytics offer more precise measurement and prediction of customer engagement and buying behaviour. At the same time, there are also challenges and barriers of top management support, lack of funds and resources, lack of enthusiasm, lack of skills and above all how to take decisions based on the results of marketing analytics. Addressing these challenges can improve the quality of marketing analytics systems and the ultimate results. This research has practical implications for firms which use marketing analytics systems.