Marketing analysis tools provide CMOs with the data and metrics they need to make informed decisions for their company. From when to run a promotion to how to target high-value customers, or even determining the ideal price point to increase revenues in the medium term, these tools can help create a comprehensive marketing analysis package. With the big data revolution rapidly changing the way successful companies present themselves to their target audience, intelligent CMOs are taking advantage of the new opportunities. Companies are increasingly implementing new technologies to take advantage of big data, as we detailed in our last article on big data technologies. One of the best opportunities to apply big data is for marketing departments, as it provides an immense amount of useful data for marketers to use to increase marketing ROI.
In the era of digital transformation, big data and marketing are linked forever. To succeed in the digital marketing and big data analysis world, every CMO must understand how big data can be used for their own success. To help you understand how big data can boost your marketing efforts, we've compiled seven key facts about the impact of big data on marketing that every CMO should know.