Understanding Analytics

Analytics. What is that?

Analytics. What is that?

How important Analytics are in our lives right now? Let me explain first what it means:

Analytics is the use of data, statistical analysis, explanatory and predictive models to gain insights on complex issues.

What? My nose just bled.

To better explain Analytics, here’s a story: Martha went to the nearest department store because there’s a sale event. Within a couple of hours, Martha is out, happy and with all the discounts she got using her Rewards/Loyalty Card resulting to three bags full of items she bought. What Martha didn’t know was that the shopping store — aside from making her shopping experience happy — gathered all the information it needs to know exactly what Martha did inside the store. Aside from her name, birthday, address, and gender, which the store already got when she signed up for the Loyalty Card. The store also got the exact time she purchased the items and the brands that she bought including the number of pieces she got from the same brand and the competing brands including the total amount of items Martha paid from the sale and whether she used her credit card, her debit card, or whether she paid it all in cash.

Imagine the details the store got from Martha every time she goes into the store, buys something, and slides her card at the store’s cash register.  Now, imagine how many Marthas, Cynthias, Marias, Hannas, and even Michaels, Berts, Harrys, and Juans who have the card and start checking out the cash register: That’s data! An important ingredient to Analytics.

At a certain time, the store gathers all the details and processes it. The processing follows a model where it follows an objective. The objective is set by decision-makers of the company. Example of objectives would be: Who is going to my store? How many females versus males? What time of the day do they come to buy from me? What items do they like buying in this season? Things like that.

From these objectives, people analyze data to gain insights or awareness that forms into information that could now be used to solve challenges and problems.

Now this whole process is called Analytics. So in essence, Analytics cannot exist without data and data cannot be gathered if you don’t have a system that can even start gathering those details and then yes, you need a place where you can store all of these materials in one place, which you can use later to analyze according to an objective you want achieved.

You probably didn’t know those facts until I told you so and probably feel a bit violated by companies who gather information from your actions without your permission, however, they’re not prying into your lives but rather just gathering data so information can be formed and so companies can allocate more budget for things that will not just create profit for some but rather advantage to meet your needs (the society, in general!) or wants in the future.

Without data, we wouldn’t know that Cancer is a leading illness in the world today. Through data, governments and institutions can resource more money for projects that can address problems and help solve lingering social challenges. Information through Analytics makes government proactive to meet demands of its peoples or in business terms, its intended market.

Data used for the wrong purpose, can lead to destruction as well and so people who read data should understand the value of mining the details of information and determine how this can be destructive or constructive for the purpose improving lives of people.
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I discovered, studied, understood, and appreciated Analytics while studying the Digital Marketing Certification course at the International Institute of Digital Marketing (Ateneo-IMMAP program) and attending BLINK Seminars organized by Fiera de Manila. I invite you to be a Digital Marketer and join us for the 7th Internet and Mobile Marketing Summit this coming 29th August at the Power Plant Mall, Rockwell City in Makati. To Register, click here.

(My name is Kristoffer Atienza, I graduated as an artist and I will remain an artist that creates for the purpose of building a community that is safe and one that will help one another. I will achieve this through data and this is my resolve to achieve this through information I gather from Blink Seminars and IMMAP Summits.)

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Did you BLINK 2?

Movent's Carlo de Leon explains how CRM and Big Data make up the essence of what Digital Marketing is all about

Movent’s Carlo de Leon explains how CRM and Big Data make up the essence of what Digital Marketing is all about

I came expecting to doze off in a conference session filled with discussion about numbers.

“Analytics!” Whoopee! How can that be any more exciting?!

“It’s a boring topic!” exclaimed Subject Matter Expert, Tof Salcedo, when he opened the seminar.  But what greeted me and 70+ other delegates was an outpouring of information coming from the proverbial Fireman’s Hose. The details of topics covered was so huge that it felt like Manny Pacquiao hit me with combination punches. It was a rude awakening and a good one at that! For more than eight hours, I found myself wanting for more facts from industry leaders and experts who delivered one curious topic after another. It was a treat!

What am I talking about? Analytics!

It’s Day 1’s topic for Digital Marketing in a Blink 2 – Ideas Worth Sharing organized by Fiera de Manila. It’s their second offering this year, which they promised to be full of excitement and instructional.

In case you didn’t know, I am devouring Digital Marketing with gusto. What is Digital Marketing? It’s Marketing using digital channels — in a gist. Channels like Desktop computers, Laptops, Notebooks, Tablets, Smartphones – all hooked up on the Internet where communities connect and sometimes collide. It’s a crazy world where information are passed in a BLINK!

This whole-day seminar was all about BIG Data as what Google Expert Tria Unson said explaining how companies can extract data and study it for the purpose of communicating right pieces of materials so companies can tell its intended market what product and services are being put out there. Through this seminar delegates were introduced to Google’s new product called, “Universal Analytics“.  Towards the afternoon, Team Planu President, Lawrence Villegas, provided useful tips on how to properly use emails so Marketing campaigns done through this medium can direct more traffic to companies’ websites and perhaps buy products from it — which DMs call, “Convert”.
MindYourMedia_Blink2It got more complicated — but fun — to study what Social Analytics (Analytics provided by Facebook, Twitter, Instagram, etc) is. This was profoundly explained by Ed Mapa of Havas Media who used the occasion to tell a story so attendees can appreciate the importance of this subject matter. SEOPinas’ Tof Salcedo talked about Basic Analytics and its relevance. He dug deep and talked about terminologies — the boring part he said and how Pay-per-Click (PPC) can be a company’s best friend in promoting services through keywords searched through Google.

Arthur Policarpio of Mobext went on the ‘offensive’ and challenged delegates to include Mobile with their tactical campaigns citing compelling reports that Smartphones are becoming a useful tool to reach Filipinos with brand messages. He also showed examples of how Mobile Apps are becoming more important to increase market penetration of a brand. Brands like McDonald’s are now using Mobile Apps to successfully execute their marketing campaigns. Last to present was Carlo de Leon of Movent who masterfully explained how Customer Relationship Management (CRM) and BIG Data can spell unparalleled success in hunting down the right target market and use client’s budget efficiently and effectively.

These things are probably going over your head as I speak but you would be excited to know that Websites and Social Media exist for a reason and how they could already replace your run-of-the-mill advertising tools that you know of yesterday. Ads and commercials you see in print magazines and newspapers and televisions are great but they can only do so much because if you aren’t looking for what you’re trying to find there, you might not get it at all. Analytics combined with Customer Relations Management (CRM), companies can be sure that those who need to hear, see, watch the message can actually hear, see, watch, and even research the message being put out in a noisy world called Social Media.

Blink 2 is not for the faint of heart because you have to have the ever inquisitive mind to pursue and understand why things work the way they are. You can’t quit learning what you need to know because somehow, some time in the near future, you might not know what you will stumble upon can help more people and that requires a lot of action and yes, that’s what Social Networking is all about. It’s never static, it’s always asking for an action. So yeah, in this Digital World try not to BLINK because you need all the information you can get from seminars like this.

Say, did you BLINK 2? LAST DAY is tomorrow. Are you coming?

(Fiera de Manila is led by Norelyn Babiera)