Translate Big Data Into Action

The question of how to leverage big data has inspired conferences, university courses and degrees — and CMOs in sore need of guidance on how to get smarter about what all those numbers are saying.

Ultimately, what each organization needs is its own analytics system that is focused on customer behavior. The system should be actionable, future-facing and support the organization’s broader strategy.

To make better business decisions, managers should be able to answer marketing questions by taking the following steps:

Determine which data are relevant.
Select the appropriate technique for analysis.
Perform the analysis to gain insights on the relationship between marketing activities and customer behavior.
Use predictive models based on experiments or historic information to simulate hypothetical situations, in order to identify the ideal combination of marketing activities — the “marketing mix.”
Link insights and the optimal marketing mix to wise marketing decisions.

Read more about Professor Rajkumar Venkatesan, Paul W. Farris and Ronald T. Wilcox’s book Cutting-Edge Marketing Analytics: Real World Cases and Data Sets for Hands-On Learning in “The Marketing Analytics Silver Bullet,” part of Professor Kimberly A. Whitler’s series on Forbes.com.

Professor Venkatesan teaches in the Executive Education program Strategic Marketing Analytics: Leveraging Big Data. In this course for working marketing leaders, participants learn how to determine which of their marketing activities are measurably improving sales and profits.

About the Expert

Rajkumar Venkatesan

Ronald Trzcinski Professor of Business Administration

Venkatesan is an expert in customer relationship management, marketing metrics and analytics, and mobile marketing.

Venkatesan’s research focuses on developing customer-centric marketing strategies that provide measurable financial results. In his research, he aims to balance quantitative rigor and strategic relevance.

In 2012 Venkatesan published “Coupons Are Not Just for Cutting Prices” in Harvard Business Review. He also co-wrote “Measuring and Managing Returns From Retailer-Customized Coupon Campaigns,” published in the Journal of Marketing in 2012. He is co-author of the book Cutting-Edge Marketing Analytics: Real World Cases and Data Sets for Hands-on Learning.

B.E., Computer Science, University of Madras, India; Ph.D., Marketing, University of Houston

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About the Expert

Kimberly A. Whitler

Frank M. Sands Sr. Associate Professor of Business Administration

Whitler is an authority on marketing, with expertise in marketing strategy, brand management, and marketing performance. Her research centers on understanding how a firm’s marketing performance is affected by its C-suite and board.

A prolific writer as well as researcher, Whitler has authored nearly 100 articles related to C-level marketing management challenges and is a contributor for Forbes and CMO.com. Social Media Marketing Magazine named her one of the Top 100 Marketing Professors on Twitter.

Whitler has held leadership roles, including GM and CMO positions, within the consumer packaged goods and retailing industries, including Procter & Gamble, David’s Bridal and PetSmart. She has helped build $1B+ brands, including Tide, Bounce, Downy and Zest.

B.A., Eureka College; MBA, University of Arizona Eller School of Business; M.S., Ph.D., Indiana University Kelley School of Business

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