Leveraging Digital Marketing Analytics: A Competitive Imperative for Modern Organizations

The Claim

Organizations that will not adapt to digital marketing analytics will face poor marketing outcomes”

Is the use of digital marketing analytics effective when it comes to marketing decisions? According to (Sharma, Mithas, & . Kankanhalli, 2020) it is not the type of digital marketing tool that is being used but the amount of consumer data that results in effectiveness and strategic marketing. I would like to review this argument based on the fact that most of the businesses rely on consumer data to be able to make a responsive marketing decision that is also important for planning. The absorptive capacity is seen as a mediator between digital marketing data and the effectiveness when it comes to the process of decision making.

Suasana, I., Warmika, I., Ekawati, N., & Rastini, N. (2022). Is marketing digitization important? . International Journal of Data and Network Science , 6 (3): 813–822. https://doi.org/10.5267/j.ijdns.2022.2.014.

I have chosen to write about digital marketing because it is one of the revolutionaries that happened during the covid-19 pandemic. Most of the consumers increased their online shopping because of the restrictions in movement and lockdowns. Particularly in Brazil it was observed that those companies which had not targeted online transformations had most of their doors closed since the pandemic begun. It is also considered that the country has very low rates of innovation that confirms the difficulty for companies to be able to survive within digital environments. Without being competitive in the digital strategy most of the Brazilian retailers lost competitiveness.

It is interesting to know that without effectively adopting digital strategy there is lots of competitiveness since the company is no longer showing its great presence. According to the resource advantage theory companies will continuously fight for comparative advantages. Considering that they today's dynamic environment is hypercompetitive there is always new strategies within the market. It is there for very important to obtain reliable information which is heterogeneous from the data of the consumers to be able to make effective decisions when it comes to marketing and advertising.

I have chosen digital marketing because I have read about big revolutions that are taking place in the world marketing environment especially on big data analytics. Most of the organizations that have not invested on big data analytics have gradually diminished because of the failure to understand the value of digital marketing. I am interested in digital marketing because most of the studies have shown that companies that are engaging in digital analytics have always outperformed those that are not investing on technology. Most of the multinational companies such as Amazon rely on acquisition of technology to be able to increase their performance. The interest is not on the technology used but the amount of consumer data that is obtained. This is because the consumer data can strategically be used using artificial intelligence to be able to predict consumer behaviors. This include things like consumer purchasing patterns and their behavior and even the amount of money they are likely to spend during several seasons. It is for this reason that firms will always fight to use technological tools and the amount of data to guide in decision making and improve companies’ strategies.

I am relying on this premise because the scholars are asking questions on how and what are the scope of marketing and analytics and what are they offering. The questions are also asking about the techniques, benefits and even applications of big data analytics. Meanwhile according to (Sharma, Mithas, & . Kankanhalli, 2020) the knowledge of data can be generated and absorbed by the organization but this does not guarantee that assertive decisions will be made. This is an indication that organizations are supposed to conceptualize the effectiveness of marketing decision and align them according to the company’s marketing objectives. It must be continuously understood that the results advantage theory competition is showing that this continuous and unbalancing process under struggle between forms for comparative advantages. This means that companies that will use this resource theory will be at a superior point. However, they must continuously renew their competencies so that they are able to anticipate market needs while producing for sale market offers. The companies are expected to understand the dynamics of the environment to be able to achieve a perfect competition.

Considering the dynamic nature of the environment market-based resources depends on consumer information. Within the current digital market companies must be able and strive to obtain consumer information because it is used in generating insights about consumers while also integrating their expertise to be able to transform them into customized solutions. This depends on the patterns of consumption the product price and communication methods. If such information is not well used in a heterogeneous way, then firms may lose their competitive advantage. The ability of the firms to be able to use consumers data to change their positions in the market depends on their momentum and a combination of resources and skills to be able to manipulate consumer data.

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