Management of Marketing Activities

Management of Marketing Activities

Assignment No.1

February 11, 2013

Analytics in any business is very important because it allows the company to discover and actively communicate the patterns in data. This in turn explains where the company stands in its current position and where it needs to go based on improvement in certain areas. This is important due to the high levels of competition from other companies that are providing similar goods and services. In order to compete in the market, companies must be able to extract necessary data from any and every source possible and make this information available for all employees to put to use. By doing this it will allow all involved to make better decisions, such as giving customers a greater value at a lower cost. In doing so the company will get a better understanding of its customers and will know what to do in order to increase the level of performance so that customers will come back to do business with the company. It is important for companies to not only know their business but their customers as well. This can result in saving the company money, and to gain loyalty from the customers.

Data is extremely critical to companies. Retrieving data not only allows companies to know where they stand and where they are headed but it is also helpful in showing the companies downfalls or the downfalls from competitors so that the same mistake is not made again. Although data can be reliable, companies must know how to put the data to use. They must be aware of what this data means in order to use it to make wise business decisions on improvement, If the data is not transparent to those individuals pulling it, they cannot determine where the business stands; therefore, sound decisions cannot be made, and finding a strategy that works best for the company cannot be done. The company cannot excel in this way! There cannot be an increase in revenue if the company is not improving, and the company cannot improve if...