The Art of Analytics
When people see or hear the word “Analytics,” some may begin to perspire from the stress of having to deal with numbers. One would think that when dealing in the world of Marketing, you would not need so much math. However, analytics is the heartbeat of any campaign, social media/google ad, product launch, or any marketing initiative. Analytics allows you to measure, manage, and analyze the performance of your effort. Analytics will show you how you can maximize the effectiveness of your initiatives and provide insight on your return on investment. In the end, you are spending money on your marketing items; the importance of numbers will be a big part of your results.
When you think numbers, you may think it is more science than art. But in reality, analytics has the best of both worlds. Albert Einstein, the influencer of the philosophy of science, shared many insights on how not all of this work came from logic or mathematics, but from intuition and being more imaginative with his work. He once said, “I believe in intuitions and inspirations. Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world”.
Art is about intuition, and imagination and analytics falls in the spectrum of being part art. You want to look at the overall picture and think outside the box, ask yourself:
What do you see from all the data that has been acquired on a specific marketing campaign?
How can you improve it?
What are the latest trends in your industry that could effect your market?
What is the optimal price that consumers buy most of your product?
The science part of Analytics will show you all the data. You then have to make an art piece by putting it together and rearranging items around to have an actual work of art. Data visualization is a great tool that makes analytics more into art. The art of analytics, in the end, will allow for a marketer or business owner not to waste their marketing dollars on initiatives that are not bringing back customers or profits.