Thanksgiving Day is a time that I reflect on all the things I am thankful for and the increased emphasis on analytics is one of them. With a struggling economy businesses want to know the value they are receiving from their marketing dollars. Analysis can help them determine their ROI and optimize marketing efforts. Increasingly, companies are looking at their wealth of data as a valuable asset that can drive revenue growth. With data mining techniques, companies can identify hidden trends and insights that can lead to new customer segments or new product offerings. Lastly, increases in technology have made it easier and easier to delve into data and display the results visually. Thus, making it easier to uncover value in your data.
At a recent road race someone asked me what I did for work. When I told her, with a smile, that I optimize marketing efforts through analysis, she remarked that it was nice to meet someone who enjoyed their job. I enjoy what I do, in part, because I believe in the value of analysis. It is very rewarding that others are recognizing that value as well.