In an era of unprecedented change, CEOs are demanding one underlying thing: the ability to make better decisions, faster. But in a world that overflows with data, how do leaders move beyond simply tracking past performance to actively charting their brand’s future?
In a recent episode of Insights and Innovators, produced by the Market Research Institute International podcast, Analytic Partners’ Founder and CEO, Nancy Smith, discusses this vital question. She explains how shifting from traditional marketing measurement analytics to a holistic approach transforms data from a report card into a powerful growth engine for informed strategic decision-making.
What is Commercial Analytics?
Smith defines it as an end-to-end analytics solution that: “…reflects the consumer experience with brand data, not just for marketing, but also their experience with pricing, purchasing power, levels of uncertainty, or unemployment.”
Given the complexity of today’s marketing landscape, speed and agility are key for C-suite leaders facing record change and high competition.
Being able to make better decisions faster by understanding the risks and opportunities of those decisions that C-Suite leaders have always had to make is incredibly powerful and informative.
The C-Suite’s New Mandate: Spending Smarter, Faster
Today, brands have a wide range of business needs. Smith often discusses marketing budgets with C-suite leaders who ask: How can we spend less and achieve more? But as Smith counters: “Well, what if you spend the same, and achieve more?”
Smith reveals that better decision-making and more efficient marketing stem from understanding a brand’s entire context, including pricing, new store openings, and partnerships. This requires a comprehensive analytics solution.
Once you’re able to represent consumer experience with brand data, then you can explain buying behavior and in terms of overall business performance.
