Enhancing Marketing Strategies with Data Analytics: A Next Plc Report

This report analyzes the application of data analytics within the marketing strategies of Next Plc, a prominent UK-based retail company. The report explores the interrelation between marketing and data analytics, emphasizing the importance of data-driven decisions for gaining a competitive edge. It delves into how Next Plc extracts, categorizes, and analyzes data from various sources, including customer behavior, competitor strategies, and market trends. The report highlights the significance of data analytics in identifying hidden insights, generating reports, performing market analysis, and improving business requirements. It also discusses the use of marketing data analytics to evaluate past marketing efforts, analyze the current market, and predict future trends. The conclusion underscores the value of data analytics in enhancing marketing operations and achieving customer loyalty. The report includes references to relevant academic sources and a poster summarizing key findings.

Marketing and DataMarketing and Data
AnalyticsAnalytics

Table of Contents
Table of Contents........................................................................................................................................2
Part A – Artifacts.........................................................................................................................................3
Part 2...........................................................................................................................................................3
Introduction.................................................................................................................................................3
Main Body...............................................................................................................................................4
Conclusion...................................................................................................................................................6
Poster..........................................................................................................................................................7
REFERENCES............................................................................................................................................8

Part A – Artifacts
Part 2
Introduction
Marketing is defined as activities which are undertaken by organization for promoting
buying as well as selling of services or products. Basically, it is an discipline which is engaged
with actions undertaken by firm for drawing in customers and formulating relationship with them
(Artun and Levin, 2015). Data analytics refers to process of examination of data sets by which
conclusions be drawn with respect to information contained within them that will aid within
specialized software and system. Marketing and data analytics are interrelated with one other

which assists firms to formulate decisions in an appropriate manner. This essay is based on Next
Plc which was founded in 1864 and deals within retail industry. It is one of the largest clothing
retailers in UK by sales. This essay contains requirement of data analytics within gaining
competitive edge through which marketing functions can be enhanced.
Main Body
Data analytics refers to science related with analysis of raw data which is being required
for making in conclusion related with information. It is defined as quantitative and qualitative
techniques & processes through which productivity along with business gains can be enhanced
(Erevelles, Fukawa and Swayne, 2016). Data is being extracted, categorized for identifying as
well as analyzing behavioral patterns, techniques and data as per organizational requirements.
Data is being extracted from different sources, cleaned as well as categorized within different
categories. The utilization of tools and techniques may vary depending upon requirement of each
firm. Huge amount of data is being generated and it is important for firms like Next plc to
extract important insights from it so that it can render advantage to them. Data analytics has
imperative role within improvisation of activities that are being carried out by firms.
The data which is talked about is information related with customers of Next Plc. They
deals within fashion industry and provides their services to all age groups. The information is
also associated with their competitors in the market along with methodologies or strategies used
by them. This data aids them to formulate their strategies as well as carry out their operations
according to this. It acts as an important aspect as this furnish them to render their activities
accordingly. Data analytics is being carried out with respect to fashion industry what there
competitors are doing, how they are working and what is there target segment. This leads them to
formulate decisions as they know the market along with ways in which others are delivering
services in context of technologies used by them, marketing activities and various other aspects.
This helps them within appropriate decision-making as per the required market standards.
The important aspect associated with data analytics which will lead them to have
competitive advantage by Next Plc are illustrated here. Gather hidden insights related with data
can be acquired and then they can be analyzed as per the business requirements. An instance can
be taken to understand this, there is a lots of data present with respect to different things like
clothing, shoes, finance, traveling and many other but firm needs to have specified details such

as retail but exactly what is needed in it is also important. Therefore, it becomes necessary for
Next Plc to gather information related with retail sector only and what individual perceives about
this. This means that knowledge is needed (Fuchs, Höpken and Lexhagen, 2014). Generation of
reports with respect to data and it is being transferred to respective teams. For an instance within
gathering insights it has been found that people are opting for well-bottom jeans rather than
narrow. Next Plc needs to make use of this information and share it with different teams to
analyze the aspects related with this. It will enable them to work in accordance to this so that
their sales can be increased which will lead to high rise within business as analysis is made with
respect to what customers expect from Next Plc.
Perform market analysis for identifying what competitors are being doing. This will aid firm to
identify what can be done so that ample number of customers can be attracted towards their
services (Germann, Lilien and Rangaswamy, 2013). For an instance what their rivalry firms are
producing, what are their marketing strategies, how they are grabbing attention of customers and
many other aspects are being analyzed by Next Plc. This is done to ensure that they do not run
out of customers as well as for enhance overall sales. Improvise business requirements allows
to develop business as per requirements of customer and render them unique experience which
will not be provided by other brands. It will create a sense of being valued in them and their
loyalty will stay with the firm (Liu, 2014).
Marketing data analytics can be defined as a technique in which firms tend to take
information associated with market as well as marketing plans. This is liable for illustrating what
has been gone well with current marketing techniques, progress with respect to that and results
that are attained from past. This will also enable Next Plc to emphasize on internal as well as
factors. Along with this, it will aid within taking into account potency and flaws of firm in the
market where services are being rendered by them. It will lead them to collect information
associated with marketing channels. It is crucial for firm like Next Plc to acknowledge what they
are getting themselves into. The reason for doing this is to ensure that brand image of firm do not
create a negative brand image within the market which might lead them to lose their potential
customers (Iacobucci, 2013). For this, it is critical to make use of marketing analysis in an
efficacious manner. This will enable Next Plc to know their competitors as well as acknowledge
the risks which they might face while furnishing their services. Basically, data analytics will

provide the firm with an insight into the market in which they will be delivering their services.
Along with this, it will aid them to identify how much improvements can be made to render their
services as per desired standard.
By making use of data analytics within marketing, Next Plc can have idea about what is
happening within the market and accordingly can formulate strategies. The reason behind this is
that, data analytics will provide answer to different questions associated with marketing. They
are how well the marketing initiatives are doing for Next Plc? , how will they will do in
future? ,can any kind of improvisation can be carried out? , how well rivalry firms are doing and
many other answers can be attained. This will assist them to acknowledge all the perspectives
associated with the market and furnish their services in accordance to that (Jayaram, Manrai and
Manrai, 2015). For attaining a lot from carrying market analysis, three stages can be used by
Next Plc for doing this; they are mentioned in this section.
Reports of past, by making use of analysis from past it can be analyzed that which
projects lead them to attain higher profits along with which strategy for used for attaining this. In
addition to this, what did not get well will also be analyzed. This will enable Next Plc to ensure
what should not be done by them definitely as it has lead to failure of some products and same
errors might not be repeated. Analyzing the current market, this implies that present market
must be analyzed so that current status can be identified. It will assist to acknowledge methods
which are being working in an appropriate manner. Through this answer will be attained in
context of what improvisations can be made for performing in an amplified manner. Predicting
future, data analytics will furnish knowledge regarding future by looking into growths as well as
trends within the current market (Kudyba, 2014). This will render assistance to Next Plc to make
anticipations and assumptions with respect to that. Through this, marketing strategies and plans
can be formulated. It will affect the current market for ensuring that future remains intact. This
leads them with returns o investment and customer loyalty for ensuring better outcomes with
respect to future.
Conclusion
From above, it can be concluded that by the appropriate usage of data analytics,
marketing operations can be enhanced. The techniques and tools that can be deployed for

collecting, transforming, cleansing, classification and converting data within comprehensible
data visualization and generation of reports is referred to as data analytics. It can be utilized
within marketing department of organization to analyze the patterns associated with trends which
prevails within the market for having customer’s loyalty and acknowledging their demands.
Poster

REFERENCES
Books & Journals
Artun, O. and Levin, D., 2015. Predictive marketing: Easy ways every marketer can use
customer analytics and big data. John Wiley & Sons.
Erevelles, S., Fukawa, N. and Swayne, L., 2016. Big Data consumer analytics and the
transformation of marketing. Journal of Business Research, 69(2), pp.897-904.
Fuchs, M., Höpken, W. and Lexhagen, M., 2014. Big data analytics for knowledge generation in
tourism destinations–A case from Sweden. Journal of Destination Marketing &
Management, 3(4), pp.198-209.
Germann, F., Lilien, G.L. and Rangaswamy, A., 2013. Performance implications of deploying
marketing analytics. International Journal of Research in Marketing, 30(2), pp.114-128.
Iacobucci, D., 2013. Marketing models: multivariate statistics and marketing analytics. Mason,
OH: South-Western.
Jayaram, D., Manrai, A.K. and Manrai, L.A., 2015. Effective use of marketing technology in
Eastern Europe: Web analytics, social media, customer analytics, digital campaigns and
mobile applications. Journal of Economics, Finance and Administrative Science, 20(39),
pp.118-132.
Kudyba, S., 2014. Big data, mining, and analytics: components of strategic decision making.
CRC Press.