Analytics industry changing goals Part I

Analytics industry has grown in scope and trends since past many years. Big players in healthcare, banking, and other industries are forging onwards to create and gain market space in little time as needed. Goals of marketing CMO's hitherto leveraged markets with new customers in social media and overusing consumers to their brackets - meaning taking new markets which were not earlier and also additional customers. Toolbox changes from social, media accounts, to database and with methods such as "disruptive innovation" as found in Accenture's study in 2016 where 33% of CMOs supported it. Number of CMO supporting that technology and data analytics would significantly change the role of marketing grew from 62% in 2009 to 91% in 2016. 

Data revolution is a serious beginning, along the lines of long term growth in sustainable profitable strategy of new model and new growth. However as we observe the technological supposition to derive the resources for new ways of looking at product or service alternatively disruptive innovation is low. Even with these trends one cannot overlook the material significance with which these methods could be applied. You can have two CD manufacturers and get a low price on either, and you can have five DVD players with one standing out from others in terms of quality, looks, and price. This makes for realizing customer potential in the wake of delivering on customer promise initially without intending to disturb comepting forces or awakening customer to product overturning market players altogether. Data analytics leveraging growing markets could assimilate the potential unlocking in IT and many sectors which makes the decision makers, management and sales job easier. A lot could depend on whether the onus to CMO's job is linked or adjudged with that of supplier / distributor. It could realize the sales funnel or marketing channel to undertake the processes which are latent in stream of production in real time and with customer centric ways. Disruptive innovation leads us to this feature unlocking though the MIS could as well propell CMO's job of channel management further. Why would you focus on something MIS reporting could do well??

Lets say you have 1000 outlets and all reports come to MIS every week. You are a patron for other small restaurants and have a good supplier base of raw material, then the CMO can watch the competing organizations come up with innovations in their products. As the curve for long run revenue flats on, disruptive innovation could steady the customer base, include cutting edge innovation taking over market, or supply the decision role a fattier say in the CMO's profile. This is a part of marketing channel and its growth which is nascent till the industry evolves. Another way of putting disruptive innovation is when the market grows, marketing changes bringing competing forces into play. Leveraging and profiting is the hallmark of strategy and feature of winning organization in a business. 

The concept could gain as a leading example of analytics industry and how this comes into the business for CMO in the years to come. But the interlinked benefits or additional efforts for CMO or as part of analytics like Big Data could be somewhat insightful in next few years.