Biz Tips: Measurement, Analytics a Hot Skill

Biz Tips: Measurement, Analytics a Hot Skill

Biz Tip:

Measurement, Analytics a Hot Skill

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Just this last week there were several articles in the news about the value of measurement and analytics. These are just a few of the stories published recently:

Forbes: Data Science is the Key to Marketing ROI.

This year alone, the U.S. is projected to absorb a shortfall of 190,000 data scientists — and that’s not even counting the 1.5 million more analysts and leaders needed to make use of the information big data supplies.

IT World: Is Analytics Adding Business Value?

Data analytics is receiving vast amounts of attention in the trade press, on many websites and at conferences. References are even spilling into the mainstream media.

Forbes: the ROI of a Great Story

The business world is (rightly) enamored by analytics, set on using their predictive value to construct a strategy, increase profitability and bolster bottom-line growth.

Take a look at the marketing and PR jobs posted on sites like Indeed, Glass Door or even LinkedIn, and you’ll find these words cropping up in a large percentage of the ads.

  • Collaborate with in-house data scientists and research analysts to identify interesting stories.
  • Develop, research, and write data-oriented stories, reports and infographics.
  • Deliver measurement and reporting of results and optimization plans and communicate this to a cross-functional team.
  • Emphasis on client onboarding, paid marketing strategy, campaign management, analytics, and reporting.
  • Track, measure, and report on results of PR and social media campaigns.

Why do employers value data, analytics, and measurement so highly?

A Competitive Edge

According to McKinsey, the volume of available data is growing exponentially, with more added every day from billions of phones, sensors, payment systems, and cameras, but organizations are struggling to turn data into value. Those who advance the furthest fastest will have a significant competitive advantage; those who fall behind risk becoming irrelevant.

Analytics Provide Insights that Can Lead to Opportunities

Business leaders know this is possible and CEOs all over the world are asking questions about how analytics can help them plan and develop future strategies that will lead to expansion. Right now there is a shortage of analysts with the skills to deliver these insights, so it’s a very hot skill.

Informed Decision Making Instead of Trial and Error

The CMO survey of 2018 shows that reliance on marketing analytics to make decisions has increased from 30% to 42% in the past 5 years, with B2C companies using analytics 55% of the time. The survey also reports that the use of quantitative tools to demonstrate the impact of marketing spend has increased 28% over the last five years. This is good news for savvy marketers and PR practitioners who learn these skills – it could lead to a seat at the boardroom table.

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