12
Jul
08

If marketing is getting real-time, it’s time analytics gets real time too.

In a fast paced world, where customers’ search and buy products thro’ multi-channels, marketers have to take action based on customer behaviour realtime. Analytics tends to be back-end but it has to move and adapt to this new world order in marketing even if means companies start doing simple things well. It’s about getting back to basics first.  Information Week has a review of the book New Age of Innovation on this topic:

Managers are aware that data is one of their most valuable assets. In a survey of more than 700 corporate managers and CIOs for InformationWeek, corporate execs say they’ve put these action points on their list of opportunities for CIOs: “use customer/business data to drive sales growth,” and “use customer/business data to influence new product development.” Unfortunately, many of the analytical tools available, such as business intelligence and enterprise search tools, are complicated, expensive, and temperamental. Add to that the fact that many organizations don’t treat their data assets with the scrupulousness they should, and you see why real-time analytics is a challenge.

Real-time analytics is the key to the intersecting forces shaping the New Age of Innovation. Those forces involve co-creating value with each customer individually and accessing resources from the global supply chain wherever they’re available, represented by authors M.S. Krishnan and C.K. Prahalad with the formulas N = 1 and R = G. In this dynamic environment, “foresight, not hindsight, is of value,” they say (p. 84)

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At Cequity, we believe customer intelligence will be the biggest competitive advantage enterprises will have in the next decade or two. Successful enterprises of tomorrow will be the ones who can organize and leverage this information at speed to optimize their marketing performance, increase accountability, improve profit and deliver growth. Cequity insights will bring to you trends and insights in this area and it’s our way of sharing best practices so as to help you accelerate this culture and thinking in your organization.
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