Actionable analytics: Reexamining metrics for better data-driven decisions
Michael J McDermott
- Analytics remains a human endeavor, and the models are only as good as the expertise and creativity of the people building them.
- Most actionable models need to be tested, refined, and validated.
- Metrics should be dynamic and evolve alongside business developments.
- It's imperative to instill a data-driven culture into the workflow of every marketer.
Brand marketers have a cornucopia of tools and channels that enable them to collect data with a level of accuracy and effectiveness undreamed of just a few years ago. But how effectively are marketers leveraging data analytics to make meaningful improvements to their marketing? The challenges revolve around what Patrick LaPointe, executive vice president of MarketShare, a Los Angeles–based global predictive analytics firm, refers to as the "human endeavor" factor as much, or more so, than technology.