According to the Gartner report 100 Data and Analytics Predictions Through 2021, data and analytics programs will become even more mission-critical throughout businesses and across most industries in the coming years. The report maintains that data and analytics will guide every business interaction, inform every decision, and drive every business process to ensure optimal outcomes. As CMOs audit their marketing initiatives for 2018 to gain clarity into their best strategies, one thing is clear – leaders must embrace and invest in data analytics solutions.
Research numbers reveal some massive changes that analytics and business intelligence will undergo in the coming few years, such as omnipresent data, data that is not siloed, real possibilities of big data, advent of machine learning along with blockchain as well as artificial intelligence (AI), and morphing of information into a corporate asset.1 One thing is clear though, Gartner continues its assertion that the digital era calls for analytics to be infused in every role, business process, decision, and action. As mentioned in the Gartner report, “…data and analytics need to be thought of as an enterprise layer of the digital business fabric, taking on a more active and dynamic role in powering the activities of the entire organization, not just reflecting where it’s been.”
With the marketing analytics market growing at a CAGR of 12.46% to reach 2.41 billion by 2020, businesses are becoming increasingly reliant on analytics data from companies like SaaS web analytics leaders HubSpot and Fastbase, Inc. to drive efficient marketing campaigns and to augment sales performance.2 Fastbase, in particular, has been on the forefront of developing software used to collect, analyse, and publish big data in a useful and understandable format. When it comes to web analytics, sales, marketing, and lead generation, Fastbase is perhaps one of the biggest players to watch in terms of predicting the future to grow companies and support innovation.
Alongside the growth of marketing analytics, we expect big advancements in the tools that will become available in the website analytics market to help marketers find continued success in an ever-evolving marketplace.