Data Analytics and Marketing: Examining Challenges and Solutions

This report examines the role of data analytics in marketing, focusing on how data is used to gain insights and make informed decisions. It explores the challenges faced in collecting, storing, and analyzing data, particularly within the retail sector. The report highlights the importance of using appropriate strategies to address these challenges, such as leveraging cloud computing for data accessibility. It also emphasizes the need for businesses to gather and analyze data relevant to their specific industry to enhance service delivery and anticipate customer needs. The conclusion underscores the significance of data in generating actionable knowledge, enabling the formulation of effective marketing strategies, and addressing the issues associated with data analytics. The report provides a comprehensive overview of data analytics and its applications in the field of marketing, including the use of data related to promotions, media, distribution channels, and customers to improve services and ensure sustainability.

Marketing and Data Analytics
Introduction
Data analytics refers process associated with examination of data sets for drawing conclusions related with information
which is contained and assists within specialised software and systems. It is assortment of applications which ranges
from basic BI (business intelligence), reporting as well as OLAP.
Marketing team faces the certain issues with respect to collection of data as sometimes individuals do
not give exact information. This makes it critical for them to analyse what is appropriate and must be
included. Thus, it is important to make use of appropriate strategies. There are different issues related
with storage as well as assessing them. For this Next Plc can make use of cloud computing to ensure
that data can be accessed when it is needed and from anywhere it is required. Along with this, there
exist wide range of data but as Next Plc deals within a retail sector it is important to gather
information in this aspect only. This will lead them to have accurate information within their sector
and furnish services accordingly.Key data in marketing
The set of characters which are being collected as well as translated for some specified purpose that is usually for
analysis is referred to as data. While rendering services it is important for organisation to make sure that they carry out
market analysis in an appropriate manner which will aid them in delivery of their products as well as services in an
amplified manner. In this context, Next Plc involves data related with promotions, media, distribution channel,
customer and various other aspects with reference to marketing. This will aid to formulate decisions like what
customers are expecting and what has to be delivered. Through this, firm can anticipate the decisions of their services
and ways in which they have to be delivered so that sustainability can be ensured in present as well as future.
Issues faced
Conclusion
From above it can be concluded that, data refers to raw data, facts and figures. They are processed
through which information can be attained which leads to attainment of knowledge. By making use of
this, strategies can be formulated by which functions can be carried out in an amplified manner. Along
with this, it will also assist within handling of different issues associated with data analytics.