How to make data analysis in marketing understandable and straightforward?
Analysing data from marketing campaigns is a complex process. This is because one wrong number can lead to an incorrect interpretation of the conducted activities. In this context, several problems arise – how to obtain high-quality data for analysis? How to make the analysis process as transparent as possible? How to correctly measure data to assess the effectiveness of a campaign? Fortunately, Power BI and Power BI Sales and Marketing Analytics by EBIS can help.
What is marketing analysis?
Marketing analysis consists of collecting marketing information and processing it to minimise the risk while making decisions related to the company’s presence on the market. In the course of the analysis, feedback is obtained, thanks to which it is possible to draw rational conclusions and make better business decisions. They are also needed to analyse previous actions and then formulate or change strategies. However, in order to get feedback, you must first collect data on which marketing analysis can be based.
How to avoid the pitfalls and correctly analyse marketing data in Power BI?
Here are some tips:
1. Transparency of the data – before we start the analysis in Microsoft Power BI, we need to be sure that the aggregated data is prepared correctly – there are no duplicates and the date range from which we extract data corresponds to the research problems posed.
2. Looking for relationships – the effectiveness of marketing campaigns largely depends on the knowledge of the target group’s needs and behaviours. When analysing data, it is necessary to look for relations and dependencies that will allow us to better target advertising and formulate content more precisely.
3. Point of reference – if we want to know whether the marketing activities conducted are practical, we must have a reference point. The analyses should not only result in reports but also conclusions and recommendations.
4. Data visualisation – lack of appropriate data visualisation makes the analysis itself not only uninteresting but often also incomprehensible.
Before starting the marketing data analysis, it is better to find out what kind of data we will have to deal with. Comparing different metrics or choosing the wrong ones can be confusing or simply useless.
Marketing analysis in Power BI
The analysis process is greatly facilitated by the use of modern tools such as Microsoft Power BI. Using them, we can quickly and easily aggregate all campaign data, segment it appropriately and track it on an ongoing basis – from mobile devices and desktop computers.
At EBIS, we are well aware of the importance of marketing data analysis. That’s why we developed Power BI Sales and Marketing Analytics by EBIS – a comprehensive marketing product for your business. It provides fast and efficient integration of marketing systems, proprietary connectors, pre-defined reports, analysis of individual marketing channels’ effectiveness, and CPO analysis. If you are interested in implementing such a solution in your company – please contact us!