Win with Advanced Business Analytics: Creating Business Value from Your Data

CALL TO ACTION: UNIFY TRADITIONAL AND DIGITAL ANALYTICS

As we progress even further into the Internet age, digital and traditional analytics must work more closely together and learn from each other. Symbiosis exists, and the evolution of global commerce in the twenty-first century demands that organizations leverage analytics more effectively going forward. Traditional analytical techniques can be used by research to benefit digital analytics. Understanding the possibilities and the potential of digital analytics will benefit research analytics as well. For example, the following tools and methods can be unified and applied across both traditional and digital analytics:

• Loyalty modeling can be used to compare the digital usage of non-loyal versus loyal customers.
• Game theory statistics can be applied to attribution analysis.
• Conjoint analytics can help digital experimental design and the impact of an attribute on choice.

Traditional brand marketing is missing the input to media mix models from digital data because such modeling is usually done at the market level—where owned media are undervalued, earned media are larger than social media, and paid media include paid search (SEO) and banner ads. Thus, it is absolutely essential that traditional research analytics work with digital data.

Use traditional research models on digital data to understand pricing and price sensitivity and the impact of packaging during product development, and apply experimental design methods for testing ...