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Predictive Analytics Can Help Get More Value out of Data

Technologies like cross-channel measurement can also help

Roughly half of marketing and media executives in North America said they believe predictive analytics and modeling to be one of the most helpful technologies for getting more value out of data, August 2016 research found.

Most Important Technologies for Achieving Value from Future Data Use According to Marketing/Media Executives in North America, Aug 2016 (% of respondents)

Winterberry Group, in partnership with the Direct Marketing Association (DMA) and Interactive Advertising Bureau (IAB), polled 211 media and marketing executives primarily in North America and asked respondents to choose the top three technologies that they believe will be most important in supporting their efforts to achieve value from data in the future.

In addition to predictive analytics, 40.6% of respondents said that cross-channel measurement and channel attribution is helpful for getting more value out of data. And more than a third said that campaign measurement, which includes segmentation and audience selection, was another important technology.

Nearly a third of marketing and media executives believe data management platforms (DMPs), tools that help businesses aggregate marketing information from across a variety of channels, will be most important in supporting future data use efforts.

Skills that Are Becoming Increasingly Important* According to Senior Marketers in the US vs. Western Europe**, May 2016 (% of respondents)

Generally, marketers are shifting their attention, and budgets, to marketing technology. Research from Rocket Fuel revealed that US senior-level agency and marketing professionals are interesting in learning about many different technologies this year, and many have a growing interest in DMPs. In fact, the platforms were mentioned as a very or somewhat interesting technology to learn about in 2016 by more than 90% of respondents.

A separate study from DataXu , Morar Consulting and WithPR found that in total, more than two-thirds of respondents in the US and Western Europe said understanding of marketing technology is becoming an increasingly important skill for successful senior marketers. This skill set was identified as the second-most-important only to creativity—and ranked slightly higher than other skills such as understanding digital media and managing people.

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