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The project is going to analyze theand analytics for marketers which indicate the digital marketing strategy evaluating the shopping data set. The analysis of the key insight indicates the multiple key insight has been used to evaluate the study. The five insight keys have been used in the study, such as Gender, NPS, CR, CAC, ARC. The researcher will focus on the descriptive statistics, regression analysis as well as the t-test paired between the two variables. Hence, the graphical analysis indicates that two types of graphical analysis will be done to evaluate the whole data set. The discussion of the tools and technique in the project will going to analyze the various type of statical tools will be used to evaluate the project in a large basis.
In this project the researcher has used the five different key insights to evaluate the structure of statistics. The five key insights are Gender, NPS, CR, CAC, ARC. In this project researchers have analyzed the descriptive statistics of the gender whose value in the mean is almost 0.48 and the standard error is almost 0.03. Hence the confidence level of the gender is almost 0.069. Also, the researcher has taken key insight NPS to evaluate the descriptive statistics whose value in the mean is almost 8.83 and the standard error is almost 0.09 (Krishnan, 2018). Hence the confidence level of the gender is almost 0.178. In the evaluation of the regression model the researcher has adopted the key insight of CR and CAC, which indicate the regression in SS 92.04, the residual is almost 1.14 and the total value is almost 323.89. The X variable in coefficient is almost 4.97 and the standard error is almost 0.003. T test evaluation has been done between the two variables NPS and the ARC. Which indicate the structure of mean, variance as well as observation (Leventhal, 2018)
From the upward calculation T Test has been evaluated between the NPS and ARC, the value of mean in NPS 8.83 and the mean of the ARC 321.66. The Pooled variance of gender is almost 11415.69 and the value t stat is almost -29.570.
3. Graphical analysis of Shopping Data
Analysis of Gender and Age
Based on the above graphical analysis it has been evaluated that the sum of age is 0 from the 18 to 24 age number. On the other hand, the age ranges from 25 to 34 is the highest sum of age, which is near about 50. Hence, the range from 35 to 44 is slightly lower than the sum of age of 25 to 34. Although the age ranges from 45 to 54 the range is lower as well as the 55 to 65 and the over range of gender is lowest in the graphical analysis (Kaur, 2019).
Based on the above evaluation it can be said that the value of ARC has been adopted for the evaluation. The basic value of the ARC in the USA is 100 to 400. The average value in the UK is 150 to 450. Hence the value of Brazil in the ARC is between 180 to 470. 7
4. Discussion of methods and techniques
On the basis of the above discussion, it has been analyzed that the project has followed multiple statistical analyzes in the firm to evaluate the shopping data set. In the evaluation of the study the researcher has adapted the methods of descriptive statistics, regression analysis and T-test paired between the two variables. As per the view of Gentsch (2018), the multiple techniques like graph analysis to evaluate the demographic structure of the firm. The different kinds of statistical techniques in the study indicate that multiple key insights have been taken to evaluate the structure. The statistical tool descriptive statistics has been used to evaluate the structure of mean, median as well standard deviation in the study (Nagaraj, 2020). Hence the regression model in the study provides the Multiple R and R square, standard error as well as observation in the project. Hence the structure of Anova indicates the regression, residual as well as total value.
The study is about the impact of data analytics on digital marketing strategies. Digital marketing is a kind of marketing strategy that helps the company in order to advertise the products and services through the digital channels to promote the products as well as the brands in order to connect and attract the potential costumers by the internet and through the various online platforms and digital communication. Additionally, the digital marketing strategy is a widely used platform by the companies to attract the new customers as well as to understand and analyze the needs and demands of potential customers. Moreover, it can be said that digital marketing also involves marketing to customers through various types of digital channels. The digital marketing strategy is a broad field, including attracting customers via email, online search platforms, social media and many more.
2. Scope and application of data analytics in a digital marketing
The data analytics palay a major role in the digital marketing to determine the potential customers. Moreover, it can be said that the data analytics in digital marketing helps to build the strategy in order to attract the potential customers, and identify which marketing campaign will be beneficial for the company. As opined by the Bai et al. (2019), On the other hand, it can be said that the data analytics tool in digital marketing helps to identify what the customers are doing in the online platforms, and why they are doing, and also how the behavior of the consumer can be converted into the campaign of digital marketing.
There are various number of data analytics process that help to the company in order to making the digital marketing strategy which are “selection of right data and information, know the channel and also know the needs and demanded of consumers, use right keywords, optimize, show the ROI”. In addition, it can be said that without accurate and appropriate data the company cannot make an effective marketing strategy (Kingsnorth, 2021). Moreover, the data analytics help to know the company what the customers are searching for when looking for service and goods. In digital marketing, the marketing teams are totally responsible for making the budgets, and digital marketing helps to demonstrate the data and how spendings is being utilized and how it can affect the profits of the company (Darko et al. 2019).
3. Actionable insight and big data
In actionable insight of digital marketing, 4 strategies that can be turned into which are “keep eye on the prize, know the source, evaluate the users, and maintain the existing workflow”. On the other hand, big data plays a major role in digital marketing, it helps to collect data analyze and also it helps to determine the insight of the business (Buhalis and Volchek. 2021). Additionally, it can be stated that this kind of data and information related to the consumers will help the company to analyze the demand and needs, and further the company can manufacture its services and products as per the consumers choice (Muth et al.2019).
There are mainly four kinds of data that can be considered in digital marketing which are “velocity, quantity, variety, and veracity”. As narrated by the Harrison et al. (2018), The velocity is the speed at which all data and information is formed and stored. On the other hand, the volume or quantity of data is generated by the help of users.
The digital marketing strategy being the most used strategy by the company which helps to attract the more costumer through the various online platforms like “social media, email, Instagram, twitter and other platforms” (Mikalefet al. 2020).
4. Improvement of marketing strategy by data analytics
Data analytics plays a major role in digital marketing which helps to identify potential customers and understand the demands and needs of the customers. As expressed by the Jørnø and Gynther (2018), Moreover, it has been observed that the data analytics help to provide the detailed analysis as well as current trends in the behavior of the consumers with higher accuracy including all kinds of groups such as “age, gender, locations, etc.”. Data analytics also help the marketers to make the strategy as well as adjust the strategy in a way to reach all kinds of audiences in different ways (Rabhiet al.2019).
Data analysis can also create the opportunity for the company as well as the marketing team to gain more insight and depth analysis. Additionally, it can be said that the main aim and goal of the marketers is to attract the customers as well as enhance the customers’ expectations. Moreover, it can be said that without accurate and appropriate data the company cannot make an effective marketing strategy (Del Vecchio et al. 2020). Through the data analytics the company can easily enhance its strategy, engage with more customers, and build relationships with the customers (Saidaliet al.2019).
5. Reflective element
Based on the report, it has been observed by me that digital marketing is a widely used marketing strategy by the company to enhance the base of the customers. Moreover, I have observed that data analytics is the most important aspect of digital marketing and it helps to make digital marketing strategies. I have learnt several aspects how to analyze the data and the strategies need to be followed into the data evaluation. I gather the initial idea about the process that has been observed in highlighting the graphical analysis of then sustainable factors into the evaluation. Also, I have seen that the data and information are also able to build the strategy, in order the inaccurate data and information can affect the digital marketing strategy as well as it might affect the profitability and efficiency of the company.
I have observed that data analytics helps to create campaigns for the company, and it helps to optimize the content and massage in order to work more efficiently and effectively.I have to concentrate on the several new strategies and the various scope of the data analytics has been evaluated to utilize the managerial issues of the business. I have seen that in digital marketing some strategies can be beneficial for the company to enhance the consumer base, fulfill the expectations of the customers. The measure associated with improving the methods that can help in measuring the financial status of the business has been narrated into the procedure. “Promotional activity through the online platforms, proper feedback process of customers, and such a strategy might be beneficial for the company. The minimization of the relative aspects and the promotion aspects should need to be maintained in such a manner as it can help in improving the data collection measures and its techniques.
The relevant application of the data analysis and the procedures which are considered as the necessary clarification and hews proper evaluation shouldneed to be evaluated. Also, I have seen that the proper feedback process through the online source as well as offline source will help to understand the needs, and what kind of products and services the customers are demanding. I came to know that the evaluation of the findings and the section of the necessary activities should need to be properly maintained as it can help in minimizing the total volume of the problems within be specific period of time.
Hence, the company should try to do promotional activity in the online platforms, and it has higher potential to engage more customers and also attract new customers as well as existing customers.
I have observed some marketing strategies that can be beneficial for the company and improve the marketing strategy which are “identification of potential customers, evaluate the existing brand, set the goals, hire the professionals, investigate the company’s reach, improve the social media reach, evaluate the ads success”. I learnt the variable aspects of the R Square and the variable reasons are clarified into the procedures. The summative strategies and the improvisation about the sequential approach have been confirmed into the evaluation to derive the managerial prospects over a stipulated period of time.
I developed my conceptual idea about the importance of the statical calculation as well as the application of thew relevant values and techniques has been leant by myself. I came to know that the changes should need to be made in such a manner as it can help in developing the financial techniques and the techniques which need to be evaluated for a fixed period of time. I have seen that the hiring process of professionals in the company can be beneficial as the professional can guide more efficiently and effectively that might improve the profitability of the company. On the other hand, Actionable insight is a very important aspect in the digital marketing platforms which reduce the journey of the customers, and also help to analyze why the customers are doing and what the customers are doing.
Based on the study, it has been concluded that digital marketing is widely used platforms by the companies in order to enhance the customers base, as well as attract the new customers and analyze the needs and demands of the customers. Further, in the study it has been discussed the scope and application of data analytics in digital marketing. Further, it has been observed that the data analysis plays a crucial role in determining and targeting the potential audiences. Moreover, it has been discussed the actionable insight and data which can help to make and improve the digital marketing strategy in order to gain more customer’s base.
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