Why Marketing Professionals should learn Analytics?

Well, lot is already being spoken about analytics, but are you yet confused whether it will help you grow in your career? Applications of analytics can be seen in almost every field: be it pharmacy, human resources, finance, marketing, etc. Moreover, it has become pivotal that marketing professionals should become tech savvy and use technology to harness importance of business analytics –

So are companies really looking for marketing professionals who’re equipped with knowledge of analytics? Yet, what’s is the point in throwing darts in the dark? I decided to explore, and what better platform than job portals in India to unearth the truth!

Scanning through different profiles, you’ll find lot of requirements for Marketing professionals who should possess knowledge in analytics.

Case 1

Requirement: Senior Analyst: Marketing Analytics
Responsibilities: Assessing market trends, building trends, performing critical advanced analytics programs such as forecasting, targeting, etc.
Qualification: MBA (Marketing)
Skills: Knowledge of Statistical tools and techniques feeding into advanced predictive analytics

Case 2
Role: Senior Executive: Marketing Research
Responsibilities: perform research for identifying target, competition areas, write market research reports, Google Analytics.
Qualification: MBA/PGDM
Special Skills: Statistical Tools like SPSS, Knowledge of various databases, Excel proficiency

Case 3
Role: Head – Data Analytics & Business Intelligence
Responsibilities: Digital marketing activities, giving creative solutions, liasoning with senior management, analyse consumer data and derive insights on retaining customers, targeting efficiently, etc.
Qualifications: MBA/PGDM
Skills: BI tools, SAS, R, Forecasting, Machine Learning, etc.

Case 4
Role: Marketing Analytics
Responsibilities: marketing, media planning activities, business development, etc.
Qualifications: MBA/PGDM
Skills: analytical and quantitative tools, statistical diagnostics such as significant test, model test, etc.

Why analytics?
The marketing guy understands the business problem and is in a better position to figure out what to look for in reams of data that is available. Secondly what used to depend on market research, can now be better understood by actual buying behavior. So for example, earlier you would ask a sample of prospective customers; what they would buy and why? But now data of their actual buying behavior is being captured and is available to predict what they may or may not prefer.

If only the marketing guys knew how to make sense of the available data or they at least understand what is possible. That’s why a number of marketing folks are now learning to use the statistical techniques themselves or at least getting to know enough to work with dedicated data analysts.

Another way analytics knowledge helps is that it enhances the understanding and use of digital marketing. Digital marketing such as Google Analytics, use of social media channels such as Whatsapp, Facebook, Twitter is now part of the marketing mix of every company. A marketing guy with Analytics understanding can make most of digital marketing tools which may be the key to success in the near future.