Six questions with Andrew Latzman, VP Marketing Analytics at Primacy on the changing landscape of data and how analytics are being used to make better decisions.
- Why is analytics so important?Andrew Latzman: Data and Analytics are paramount for the success of today’s advertising and marketing agencies. Without rapid response measurement, interpretation and optimization, digital marketing agencies will lose ground to their competitors.
- What are your strengths in analytics?AL: I’ve got a heavy emphasis on media analytics and brand measurement. Programmatic trading and the use of data in analytics and performance optimization
- How do you use analytics to help clients and their projects?AL: If you’re not using accurate and insightful data to make decisions, bad hunches can turn into perpetual problems. Analytics is vital for validating assumptions and making sure you’re on the right track. Plus, it lets us point clients in the right direction when they make decisions on media, positioning, creative, and other aspects of the business and marketing plans.
- What common challenges are clients facing with data?AL: Today, there’s just so much data to interpret. And disparate data platforms can create chaos. In the past, measurement used to be a much simpler process. Now there’s a proliferation of tools and KPIs and sorting through the mess can be very confusing.
- What new technologies are having an impact on data and analytics?AL: There are so many new technologies that impact data and analytics that this is difficult to answer. For every digital element there is a data trail. That data trail can either help us with analytics or make it more difficult. Probably the most prevalent new technologies impacting (both positiviely and negatively) are 1. Mobile Tracking and 2. Cross Channel measurement. Both have significant measurement implications but represent the future of Marketing Analytics.The proliferation of technologies can give us “analysis paralysis” – deciding on a vendor to go with presents risk and we are confronted with new expenses in measurement that create a real ROI debate when deciding if a tool is worth the cost. That said, overlaying third party data into insights that are also being used for campaign targeting and optimization has allowed us to execute on analytics without using traditional 3rd party market research and free tools have also allowed us to mine data at low cost that is actually being utilized in client engagements. Using the same data throughout the process from planning to implementation to measurement, optimization and reporting and being able to source the same information throughout the process allows analysts to use the same data in implementation than they are using in the analytics. This is a significant new impact on analytics and optimization.
- What’s a must read publication or news source for the latest insight on data and analytics?AL: Media Post is a great resource, you definitely need to subscribe to their newsletter. In fact, sign up for as many newsletters as possible!