Analytical in Digital Marketing
Exponential technological expansion creates opportunities for competitive advantage by apply-ing new data-oriented approaches to digital marketing practices. Machine learning (ML) can predict futuredevelopments and support decision-making by extracting insights from large amounts of generated data.This functionality greatly impacts and streamlines the strategic decision-making process of organizations.The research gap analysis revealed that a little is known about marketers’ attitude toward, and knowledgeabout, ML tools and their adoption and utilization to support strategic and operational management. Theresearch presented here focuses on the selection and adoption of the ML-driven analytical tools by threedistinct groups: marketing agencies, media companies, and advertisers. Qualitative and quantitative researchwas conducted on a sample of these organizations operating in Slovakia. The findings highlight: 1) theimportant role of intelligent analytical tools in the creation and deployment of marketing strategies; 2) thelack of knowledge about emerging technologies, such as ML and artificial intelligence (AI); 3) the potentialapplication of the ML tools in marketing, and; 4) the low level of adoption and utilization of the ML-drivenanalytical tools in marketing management. A framework consisting of enablers and a process map wasdeveloped to help organizations identify the opportunities and successfully execute projects that are orientedtoward the deployment and adoption of the analytical ML tools in digital marketing.Digital Marketing Company Kumbakonam
In recent years, the extensive development of information andcommunication technologies in the private and public sectorsinitiated the emergence of a new digital marketing environ-ment. Due to the proliferation of information technology,a huge amount of data is currently generated. It is estimatedthat 2.5 quintillion bytes of data are created every day andthis number increases with the onset of the Internet of Things(IoT) [1]. It is also estimated that 90% of the available globaldata has been generated in the past two years [2]. Timely andprecise business decisions depend on the generation, access,and utilization of quality information. Exponential techno-logical expansion and its barrier-free global disseminationherefore create opportunities to gain competitive advantageby applying new data-oriented approaches to marketing man-agement [3].Digital marketing emerged as a natural response by com-panies to leverage and benefit from the significant consumerconcentration on the Internet. Various types of organiza-tions, including businesses, hospitals, schools, professionalassociations, councils and NGOs, use digital marketing aspart of their marketing strategies and deployment programs.Some of these organizations can also operate their owne-commerce platform, but they mostly use the Internet as achannel/medium within their communication strategy. Theseorganizations typically fulfill the role of clients or advertisers– also referred to as brands. Other categories of organiza-tions also operate in the digital marketing space. Digitalagencies create and implement marketing strategies for theA. Miklosiket al.: Toward the Adoption of ML-Based Analytical Tools in Digital Marketingorganizations in the first group and use digital marketing aspart of their own marketing strategy. Organizations in thethird group, namely media, are used by digital agencies (orthe advertisers directly) to communicate with their targetaudience.
The Internet environment enables companies to learn moreabout consumers through a few clicks in the appropriateanalytical tool. The greatest advantage of digital marketingover other marketing tools and channels is its measurabil-ity. The digital footprint of every Internet user contains asignificant amount of data that can serve as input for mar-keting analysis. Manual acquisition and analysis of the datahas been time-consuming and only marginally regulated [4].Analytical tools are currently used in marketing manage-ment to systemize processes, streamline the decision-making,and automate work. These sophisticated analytical tools usemachine learning (ML) to learn from historical data and helpplan future activities more effectively [5]. The ML tools canbe utilized in many sectors. The research presented in thisarticle focuses specifically on their use in marketing analy-sis towards improving strategic and operational decisions inmarketing management. Using an interdisciplinary approach,the research explores the potential of ML in marketing analyt-ics, the degree of implementation of the technology, as well asthe attitudes of marketing agencies and marketing managerstowards active utilization of these tools.https://arudhrainnovations.com/
