Redefining Marketing Intelligence

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Redefining Marketing Intelligence

21 Jan 2023
- admin
- Industry Insights
Marketing intelligence is the process of gathering, analysing, and interpreting information related to a company’s market and customers. Traditionally, marketing intelligence has focused on gathering data through market research and customer surveys. However, in today’s digital age, there is an abundance of data available, and the definition of marketing intelligence is evolving to include the use of advanced technologies and data analytics.

One of the most significant developments in marketing intelligence is the use of big data and artificial intelligence (AI) to gain insights into customer behaviour and preferences. With the explosion of digital data, companies now have access to a vast amount of information about their customers, including their purchasing history, social media activity, and online behaviour. By using big data and AI, companies can analyse this data to understand customer behaviour, predict future trends, and make more informed decisions about their marketing strategies.

Another key aspect of redefining marketing intelligence is the use of real-time data. In the past, market research and surveys were typically conducted on a periodic basis, which meant that companies were only getting a snapshot of customer behaviour at a particular point in time. Today, with the use of digital tools, companies can gather data in real-time, which allows them to make more informed decisions on a continuous basis.

Additionally, redefining marketing intelligence also includes the use of customer experience as a key metric. In the past, marketing intelligence was primarily focused on customer demographics and purchase history. However, today, companies are recognizing the importance of understanding the customer experience and measuring customer satisfaction, loyalty, and retention. This allows them to identify areas for improvement and make changes to their products and services to better meet the needs of their customers.

In conclusion, redefining marketing intelligence involves the use of advanced technologies and data analytics to gain insights into customer behaviour and preferences, using real-time data, and incorporating customer experience as a key metric. It allows companies to make more informed decisions about their marketing strategies and stay ahead of the competition. With the constant evolution of technology and data, the definition of marketing intelligence will continue to evolve, and companies will have to adapt to stay competitive.

As SOIL, we teach our students about the new definition of marketing intelligence by incorporating a variety of approaches in our curriculum. One of the most effective ways is to provide hands-on experience through projects and case studies that allow students to apply the concepts they have learned in class to real-world situations. This includes working on projects that require students to gather and analyse data using big data and AI tools, or working on projects that require them to understand the customer experience and measure customer satisfaction.

Another approach that SOIL follows regularly is to incorporate guest lectures and workshops from industry experts who can share their experiences and insights on the latest trends and technologies in marketing intelligence. This provides our students with a practical perspective on how companies are using advanced technologies and data analytics to gain insights into customer behaviour and preferences.

Additionally, SOIL also incorporates courses that focus on advanced technologies and data analytics, including courses on big data, machine learning, and data visualization, which provide our students with the technical skills they need to analyse and interpret large amounts of data.

By providing hands-on experience, incorporating guest lectures and workshops, incorporating courses that focus on advanced technologies and data analytics, and encouraging research and internships, we enable our students to prepare for careers in the industry and stay ahead of the competition.

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