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Published on Friday, November 21, 2014

Are all Marketing Analytics the Same?

Understanding the relationship between analytics and intelligence will help you determine what tools and approach are necessary to be successful.

Analytics is the discovery and communication of meaningful patterns in data for the purpose of gaining insights and knowledge. Analytics guide decision making by quantifying performance and modifying successful behavior.

Intelligence applies performance data to a set of business rules and algorithms to generate meaningful and useful information. Intelligence allows you to convert data into knowledgeable forecasts and supporting actions. The following represents the three levels of analytics:

Level I - Descriptive Analytics: Describes the reasons behind past success and failure through analysis of historical performance data.

Level II - Predictive Analytics: Predicts probable outcomes by enabling operators to change success variables within a performance model.

Level III - Prescriptive Analytics: Prescribes the actions needed to support the outcomes generated by the predictive intelligence.

Simply put, analytics makes it possible for your organization to convert data into intelligence and modify behavior. Contact us to discover your potential and gain Tomorrow's Knowledge Today!

Intelligence applies performance data to a set of business rules and algorithms to generate meaningful and useful information. Intelligence allows you to convert data into knowledgeable forecasts and supporting actions.

- See more at: http://www.kinginnovative.com/YourNeeds/AreallMarketingAnalyticsthesame.aspx#sthash.iPbfqW4d.dpuf
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