Published: September 17, 2017
Marketing Analytics in Business and the MBA
Analytics are invaluable in marketing decision-making, but many firms lack personnel with the skills needed to compile the data and leverage this information. According to the CMO Survey, a biannual report that provides insight into the field of marketing, marketing analytics are used to make 37.5 percent of business decisions—but only 1.9 percent of firms have the people in place to measure, analyze, and use the marketplace data. McKinsey & Company recently found that 36 percent of executives report that they lack big data specialists. Not only that, McKinsey forecasts that 1.5 million more managers and analysts with analytical skills will be required by 2018.
According to Christine Moorman, a senior professor of business administration at Duke University’s Fuqua School of Business and the founder and director of the CMO Survey, "More firms are using quantitative tools to demonstrate the long-term impact of marketing investments." And an MBA could be part of the solution for meeting this growing need.
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