Marketing Analytics Theoretical Development and Trends: The Journey of Defining Marketing Analytics

Authors

  • Imran Dar Foundation University Islamabad, Pakistan.
  • Aziz Ur Rehman Rana Foundation University Islamabad, Pakistan.
  • Ismail Nasir Foundation University Islamabad, Pakistan.

DOI:

https://doi.org/10.56976/rjsi.v5i1.57

Abstract

Marketing Analytics is a novel area of marketing science that is becoming a new subject and area of expertise like other sub-branches of marketing, with the conceptual umbrella overlapping data science and the fruits of the fourth industrial revolution. The researchers crafted the linkage of Data Science, Data Analytics, Business Analytics and Marketing Analytics as an interdisciplinary phenomenon and subset of Business Analytics. A definition has been developed from academic development and trends. The area’s importance in the academic world has also been detailed.

Author Biographies

Aziz Ur Rehman Rana, Foundation University Islamabad, Pakistan.

 

 

Ismail Nasir, Foundation University Islamabad, Pakistan.

 

 

References

Ahmed, E., Yaqoob, I., Hashem, I. A. T., Khan, I., Ahmed, A. I. A., Imran, M., & Vasilakos, A. V. (2017). The role of big data analytics in Internet of Things. Computer Networks, 129 (2), 459-471.

Ahmed, I., Shahzad, R. K., & Shabbir, J. (2013). Search Engine Optimisation: Evidence From Pakistan. Asian Academy of Management Journal, 18(2), 1-16.

Behari, S., Cater-Steel, A., & Soar, J. (2019). Data science and big data analytics in financial services: A case study. In Web Services: Concepts, Methodologies, Tools, and Applications (pp. 1301-1329). IGI Global.

Berger, P. D. (2016). One man’s path to marketing analytics. Journal of Marketing Analytics, 4(1), 1-13.

Brown, B., Chui, M., & Manyika, J. (2011). Are you ready for the era of ‘big data’. McKinsey Quarterly, 4(1), 24-35.

Bughin, J., O’Beirne, B., & Deakin, J. (2019). The anatomy of successful digital transformation: The role of analytics. Applied Marketing Analytics, 5(2), 121-128.

Cannon, S., & Summers, L. H. (2014). How Uber and the sharing economy can win over regulators. Harvard business review, 13(10), 24-28.

Cao, G., Duan, Y., & Tian, N. (2021). Identifying the configurational conditions for marketing analytics use in UK SMEs. Management Decision, 59(12), 2952-2969.

Carte, T. A., Schwarzkopf, A. B., Shaft, T. M., & Zmud, R. W. (2008). Advanced business intelligence at Cardinal Health. MIS Quarterly Executive, 4(4), 413-424.

Chen, D., Sain, S. L., & Guo, K. (2012). Data mining for the online retail industry: A case study of RFM model-based customer segmentation using data mining. Journal of Database Marketing & Customer Strategy Management, 19(3), 197-208.

Cheng, M. (2016). Sharing economy: A review and agenda for future research. International Journal of Hospitality Management, 57, 60-70.

Clevenger, T. (2009). Using marketing analytics to drive innovation–An interview with Trae Clevenger of Targetbase. Journal of Digital Asset Management, 5(4), 216-236.

Dasan, P. (2013). Small & medium enterprise assessment in Czech Republic & Russia using marketing analytics methodology. Central European Business Review, 2(4), 39-49.

Davenport, T. H., & Kim, J. (2013). Keeping up with the quants: Your guide to understanding and using analytics. Harvard Business Review Press.

Davenport, T.H. & Harris, J.G. (2007). Competing on Analytics. Harvard Business School Press.

De Bem Machado, A., Secinaro, S., Calandra, D., & Lanzalonga, F. (2022). Knowledge management and digital transformation for Industry 4.0: a structured literature review. Knowledge Management Research & Practice, 1-19.

De Filippi, P. (2017). What blockchain means for the sharing economy. Harvard Business Review Digital Articles, 2-5.

Delen, D., & Ram, S. (2018). Research challenges and opportunities in business analytics. Journal of Business Analytics, 1(1), 2-12.

Dillahunt, T., Lampinen, A., O’Neill, J., Terveen, L., & Kendrick, C. (2016, February). Does the sharing economy do any good?. In Proceedings of the 19th ACM Conference on Computer Supported Cooperative Work and Social Computing Companion (pp. 197-200). ACM.

Edmondson, A. C., & McManus, S. E. (2007). Methodological fit in management field

research. Academy of management review, 32(4), 1246-1264

Feshina, S. S., Konovalova, O. V., & Sinyavsky, N. G. (2019). Industry 4.0—Transition to New Economic Reality. In Industry 4.0: Industrial Revolution of the 21st Century (pp. 111-120). Springer, Cham.

Fournier, S., Eckhardt, G., & Bardhi, F. (2013). Learning to play in the new ‘share economy. Harvard Business Review, 91(7), 125-129.

Furness, P. (2011). Applications of Monte Carlo Simulation in marketing analytics. Journal of Direct, Data and Digital Marketing Practice, 13(2), 132-147.

Ganapati, S., & Reddick, C. G. (2018). Prospects and challenges of sharing economy for the public sector. Government Information Quarterly, 35(1), 77-87.

Germann, F., Lilien, G. L., & Rangaswamy, A. (2013). Performance implications of deploying marketing analytics. International Journal of Research in Marketing, 30(2), 114-128.

Grover, P., & Kar, A. K. (2017). Big data analytics: a review on theoretical contributions and tools used in literature. Global Journal of Flexible Systems Management, 18(3), 203-229.

Hamari, J., Sjöklint, M., & Ukkonen, A. (2016). The sharing economy: Why people participate in collaborative consumption. Journal of the Association for Information Science and Technology, 67(9), 2047-2059.

HARISH, V. (2023). Marketing Analytics and Its Applications. Marketing Analytics: A Machine Learning Approach, 323-340.

Hauser, W. J. (2007). Marketing analytics: the evolution of marketing research in the twenty-first century. Direct marketing: an international journal, 1(1), 38-54.

Holsapple, C., Lee-Post, A., & Pakath, R. (2014). A unified foundation for business analytics. Decision Support Systems, 64, 130-141.

IBM (2012). Mid-Market Cloud Computing and Business Analytics Survey: Adoption among content users of Inc. and The Build Network, prepared by Inc.

Jameel, F., Memon, F., Shaikh, P., & Memon, N. A. (2017). Implementing a business intelligence environment in local market of Pakistan. Mehran University Research Journal Of Engineering & Technology, 36(2), 333.

Järvinen, J., & Karjaluoto, H. (2015). The use of Web analytics for digital marketing performance measurement. Industrial Marketing Management, 50(7), 117-127.

Kathan, W., Matzler, K., & Veider, V. (2016). The sharing economy: Your business model’s friend or foe?. Business Horizons, 59(6), 663-672.

Kurtzke, S., & Setkute, J. (2021). Analytics capability in marketing education: A practice-informed model. Journal of Marketing Education, 43(3), 298-316.

Kwong, C. K., Jiang, H., & Luo, X. G. (2016). AI-based methodology of integrating affective design, engineering, and marketing for defining design specifications of new products. Engineering Applications of Artificial Intelligence, 47, 49-60.

Langan, R., Cowley, S., & Nguyen, C. (2019). The state of digital marketing in academia: An examination of marketing curriculum’s response to digital disruption. Journal of Marketing Education, 41(1), 32-46.

Lapointe, P. A. T. (2012). The dog ate my analysis: The hitchhiker’s guide to marketing analytics. Journal of Advertising Research, 52(4), 395-396.

Leiria, M., Dematos, N., & Rebelo, E. (2023). Customer loyalty in the insurance industry: From traditional to analytical marketing—a bibliometric analysis. Applied Marketing Analytics, 8(4), 404-422.

Liang, X., Li, G., Zhang, H., Nolan, E., & Chen, F. (2022). Firm performance and marketing analytics in the Chinese context: A contingency model. Journal of Business Research, 141, 589-599.

Lim, J. -., & Heinrichs, J. H. (2021). Developing context-relevant project experiences for marketing analytics students. Decision Sciences Journal of Innovative Education, 19(2), 150-156.

Liu, X., & Burns, A. C. (2018). Designing a marketing analytics course for the digital age. Marketing Education Review, 28(1), 28-40.

Louro, A. C., Brandão, M. M., & Sarcinelli, A. F. (2021). Foundations and trends in Analytics and Marketing relationship. REMark, 20(1), 1.

Lusch, R. F., & Vargo, S. L. (2014). Service-dominant logic: Premises, perspectives, possibilities. Cambridge University Press.

Mahesar, H. A., Chaudhry, N. I., & Tariq, U. (2017). Integrating customer relationship management with big data analytics in retail stores: a case of hyper-star and metro. Journal of Business Strategies, 11(2), 141-158.

Mansurali, A., & Jeyanthi, P. M. (2023). Introduction to Marketing Analytics. Marketing Analytics: A Machine Learning Approach, 1.

McEwan, M., Shi, Y., & Van Toorn, C. (2021). Business Analytics (BA)-powered transformation for environmental sustainability in organisations: A dynamic capabilities perspective. ACIS 2021 Proceedings. 88. Retrieved from https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1087&context=acis2021

Meredith, R., Remington, S., O’Donnell, P., & Sharma, N. (2012). Organisational transformation through business intelligence: Theory, the vendor perspective and a research agenda. Journal of Decision Systems, 21(3), 187-201.

Miles, D. A. (2014). Measuring customer behavior and profitability: Using marketing analytics to examine customer and marketing behavioral patterns in business ventures. Academy of Marketing Studies Journal, 18(1), 141-165.

Nair, H. S., Misra, S., Hornbuckle IV, W. J., Mishra, R., & Acharya, A. (2017). Big data and marketing analytics in gaming: Combining empirical models and field experimentation. Marketing Science, 36(5), 699-725.

Nichols, W. (2013). Advertising Analytics 2.0. Harvard Business Review, 91(3), 60-68.

Osaysa, E. K. (2022). IMPROVING THE QUALITY OF MARKETING ANALYTICS SYSTEMS. International Journal for Quality Research, 16(1), 119.

Ozimek, J. F. (2010). Issues with statistical forecasting: The problems with climate science–And lessons to be drawn for marketing analytics. Journal of Database Marketing & Customer Strategy Management, 17(2), 138-150.

Pascucci, F., Savelli, E., & Gistri, G. (2023). How digital technologies reshape marketing: evidence from a qualitative investigation. Italian Journal of Marketing, 1-32.

Paul, P., Bhuimali, A., Aithal, P. S., & Bhowmick, S. (2018). Business Information Sciences emphasising Digital Marketing as an emerging field of Business & IT: A Study of Indian Private Universities. IRA International Journal of Management & Social Sciences,(ISSN 2455-2267), 10(2), 63-73.

Peters, C., Maglio, P., Badinelli, R., Harmon, R. R., Maull, R., Spohrer, J. C., ... & Griffith, T. L. (2016). Emerging digital frontiers for service innovation. Communications of the Association for Information Systems: CAIS, 39, online.

Petrescu, M., & Krishen, A. S. (2017). Marketing analytics: from practice to academia. Journal of Marketing Analytics, 5(2), 45-46.

Petrescu, M., & Krishen, A. S. (2023). Mapping 2022 in Journal of Marketing Analytics: what lies ahead?. Journal of Marketing Analytics, 1-4.

Piccoli, G., & Watson, R. T. (2008). Profit from Customer Data by Identifying Strategic Opportunities and Adopting the “Born Digital” Approach. MIS Quarterly Executive, 7(3), 113-122.

Pierson, L. (2015). Data science for dummies. John Wiley & Sons.

Puschmann, T., & Alt, R. (2016). Sharing economy. Business & Information Systems Engineering, 58(1), 93-99.

Rahman, M. A., Rashid, M. M., Hossain, M. S., Hassanain, E., Alhamid, M. F., & Guizani, M. (2019). Blockchain and IoT-based Cognitive Edge Framework for Sharing Economy Services in a Smart City. IEEE Access.

Rana, I. A., & Rehman, S. (2014). How Business Analytics Is Adding Value To Breakthroughs – A Pakistani Perspective. International Journal of Economics, Commerce and Management, 2(10), 1-21.

Rouse, W. B. (2005). A theory of enterprise transformation. Systems Engineering, 8(4), 279-295.

Shanks, G., Bekmamedova, N., & Willcocks, L. (2012). Business analytics: Enabling strategic alignment and organisational transformation. Retrieved from https://aisel.aisnet.org/ecis2012/18/

Shanks, G., Bekmamedova, N., & Willcocks, L. (2013). Using business analytics for strategic alignment and organisational transformation. International Journal of Business Intelligence Research (IJBIR), 4(3), 1-15.

Siegel, E. (2013). Predictive analytics: The power to predict who will click, buy, lie, or die. John Wiley & Sons.

Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of business research, 104, 333-339.

Stanton, A. D. A., & Stanton, W. W. (2023). A regional comparison of the skills sought by employers for entry-level marketing analytics professionals. Applied Marketing Analytics, 8(3), 283-301.

Terpstra, V. (1987). The evolution of international marketing. International Marketing Review, 4(2), 47-59

Udo, G., Bagchi, K. K., & Kirs, P. J. (2008). Diffusion of ICT in developing countries: a qualitative differential analysis of four nations. Journal of Global Information Technology Management, 11(1), 6-27.

Vollrath, M. D., & Villegas, S. G. (2021). Avoiding digital marketing analytics myopia: Revisiting the customer decision journey as a strategic marketing framework. Journal of Marketing Analytics.

Vorvoreanu, M., Boisvenue, G. A., Wojtalewicz, C. J., & Dietz, E. J. (2013). Social media marketing analytics: A case study of the public’s perception of Indianapolis as Super Bowl XLVI host city. Journal of Direct, Data and Digital Marketing Practice, 14(4), 321-328.

Wamba, S. F., Gunasekaran, A., Akter, S., Ren, S. J. F., Dubey, R., & Childe, S. J. (2017). Big data analytics and firm performance: Effects of dynamic capabilities. Journal of Business Research, 70, 356-365.

Wang, W. Y. C., & Wang, Y. (2020). Analytics in the era of big data: The digital transformations and value creation in industrial marketing. Industrial Marketing Management, 86, 12-15.

Wedel, M., & Kannan, P. K. (2016). Marketing analytics for data-rich environments. Journal of Marketing, 80(6), 97-121.

Wilson, E. J., McCabe, C., & Smith, R. S. (2018). Curriculum Innovation for Marketing Analytics. Marketing Education Review, 28(1), 52-66.

Wymbs, C. (2011). Digital marketing: The time for a new “academic major” has arrived. Journal of Marketing Education, 33(1), 93-106.

Xu, Z., Frankwick, G. L., & Ramirez, E. (2016). Effects of big data analytics and traditional marketing analytics on new product success: A knowledge fusion perspective. Journal of Business Research, 69(5), 1562-1566.

Ye, Q., & Morro, R. O. (2018). From Reporting to Analytics: Leveraging Business Intelligence in enabling organisations’ transformation towards becoming data-driven. Retrieved from https://lup.lub.lu.se/luur/download?func=downloadFile&recordOId= 8958030&fileOId=8958033

Za, S., Drăgoicea, M., & Cavallari, M. (2017). Exploring Services Science. Springer International Publishing.

Zamani, E. D., Griva, A., & Conboy, K. (2022). Using Business Analytics for SME Business Model Transformation under Pandemic Time Pressure. Information Systems Frontiers, 1-22.

Downloads

Published

2023-03-31

How to Cite

Dar, I., Rana, A. U. R., & Nasir, I. (2023). Marketing Analytics Theoretical Development and Trends: The Journey of Defining Marketing Analytics . Research Journal for Societal Issues, 5(1), 54–70. https://doi.org/10.56976/rjsi.v5i1.57

Issue

Section

Articles