Marketing is the backbone of any profitable business. This function contributes in understanding the customers and devising strategies beneficial for the business. This customer-facing entity in any business has the responsibility of managing competitors, stakeholders satisfaction and demands and the ROI of the business. This entity interacts with all other operational and strategic entities of a business to gather inputs and come up with a business strategy in handling the key responsibilities.
The analytics approach helps the marketing function in identifying the key market as well as customer segments, assessing the business needs and coming up with effective business strategies. Marketing analytics harnesses the capabilities of advanced techniques in analyzing customer-centric data that helps organizations identify avenues to create business value, thereby making the business profitable.
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