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B2B Data Management: Marketers' Top Goals and Challenges - Profs

B2B Data Management: Marketers' Top Goals and Challenges - Profs | The MarTech Digest | Scoop.it
Marketing Strategy - B2B marketers say the most important goal of their data management strategy is to improve ROI measurability, according to recent research from Openprise and Ascend2.
Marteq's insight:

NEW: Experience Remarkable Planning Accuracy With New, FREE Growth Hacking Tool. Go here: http://goo.gl/UjcA8x   

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Twitter and IBM's Partnership Means Better Data Solutions for Marketers - ClickZ

Twitter and IBM's Partnership Means Better Data Solutions for Marketers - ClickZ | The MarTech Digest | Scoop.it

"Twitter and IBM have partnered to combine Twitter's firehose of social data with IBM's analytics in an effort to offer business solutions to marketers overwhelmed by social data.


The companies have joined forces to partner Twitter’s data with IBM’s analytics tools to better inform business decisions. Through the partnership, IBM and Twitter will offer a set of enterprise applications that analyze tweets based on geography, public biographical information, and the emotion expressed in the tweet. IBM also plans to train 10,000 employees to consult with businesses on the best use of Twitter data.


The new applications could improve marketers’ understanding of "affinity categories, purchase habits, purchase readiness, and more" "


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Marteq's insight:

This is an FYI so that we can all look for the offerings from Twitter. And it's a perfect example of how the marketer is challenged to connect all these wonderful technologies into one platform.

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Big Data = Big Trouble: How to Avoid 5 Data Analysis Pitfalls - Search Engine Watch | #TheMarketingAutomationAlert

Big Data = Big Trouble: How to Avoid 5 Data Analysis Pitfalls - Search Engine Watch | #TheMarketingAutomationAlert | The MarTech Digest | Scoop.it
When trying to make sense of data, it's easy to fall victim to confirmation bias, irrelevancy, statistical insignificance, and causation vs. correlation and action vs. intent confusion. Here are solutions to these (and more) common analysis problems.


Summarized...


1. Confirmation Bias: You have a hypothesis in mind but you are only seeking data patterns that support it – ignoring all data points that reject it.

2. Irrelevancy and Distraction: Focusing on data that is irrelevant to the problem you are trying to solve or being distracted by data that isn't directly connected to your analysis goal. In the age of Big Data, this is doomed to happen more and more.

3. Causation vs. Correlation: Mixing the cause of a phenomenon with correlation. If one action causes another, then they are most certainly correlated. But just because two things occur together doesn't mean that one caused the other, even if it seems to make sense.

4. Statistical Significance: Using data sets that are too small to suggest a trend or comparing results that are not different enough to have statistical significance.

5. Action vs. Intent: Inferring the wrong intention based on the actions recorded in the data rather than the suggested intent.

6. Apples and oranges: Comparing unrelated data sets or data points and inferring relationships or similarities.

7. Poor data hygiene: Analyzing incomplete or "dirty" data sets and making decisions based on the analysis of that data.

8. Narrow focus/not enough data: Analyzing data sets without considering other data points that might be crucial for the analysis (for example, analyzing email click-through rate but ignoring the unsubscribe rate).

9. Bucketing: The act of grouping data points together and treating them as one. For example, looking at visits to your website and treating unique visits and total visits as one, inflating the actual number of visitors but understating your true conversion rate.

10. Simple mistakes and oversight: "It happens to the best of us."

Marteq's insight:

The title reads 5, but there are actually 10. And the author provides a solution to the first five. Regardless of the status of Big Data in your organization, this is a must-review article! We're all statisticians now!


  • See the article at searchenginewatch.com
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