How to find insights from your data?
Have you ever thought about analyzing weekly on excel and got bored?Faced with a situation of excel cant handle the data and asking help from developers?You have very limited time to do analysis on huge data and you are stuck in it? If yes, here is the solution for all Business Intelligence tools. In the market we have several tools like Tableau, ZOHO analytics, Qlik view, Google analytics, powerbi … and so on. But out of all here we are choosing powerBI because of,Connecting to more data sourcesSecure sharingAvailable in mobileEasy to understandVery cheap compared to othersMost used BI tool
What is PowerBI?
It is a cloud based, business analytics tool for analyzing and visualizing data.Powerbi gives you a platform to be productive and creative with reports and analytics. Finding insights from the data and creating dashboards.
Steps included in working with powerbi Connecting to dataTransforming dataModeling dataData VisualizationPublishing the reports
Comparing PowerBI with other popular tools
Now, we will see analysis on how PowerBI helps to marketing team.
For that first we will understand what marketing analysis is?
Marketing analytics involves the technologies and processes CMOs and marketers use to evaluate the success and value of their efforts. As such, marketing analytics uses various metrics to measure the performance of marketing initiatives. Effective marketing analytics gathers data from all sources and channels and combines it into a single view. Teams then use the analytics to determine how their marketing initiatives are performing and to identify opportunities for improvement. It is difficult to determine the effectiveness and return on investment (ROI) of your marketing campaigns without marketing analytics. It’s worth mentioning that metrics play a critical role in marketing analytics, but marketing metrics and marketing analytics are two different things. Marketing metrics refer to the data points, while analytics put the data in context and show how your marketing efforts translate to revenue.
Benefits of marketing analytics.
- Understand our customers
- Identify which programs work and why
- Monitor trends for a given period and overtime
- Understand the ROI of each program thoroughly
Here we will work on marketing data. First we will try to understand our customers
Filtered on only 2014 year customers
Here we can clearly understand our major customers are in relation and graduated. In comparison of all years and 2014 year we can say our customers of 2nd cycle education people are earning close to graduates might be more talented or might have there business, this helps on knowing the customers.
Here we can see that most of the high income people have no children. Majority of our customers have only 1 child, but most of our orders/purchases are done by couples with no children, irrespective of their count.
Here we can say 2013 was the clear winner, because that is the year we had more new customers.
Now, we will know about our recent customers. Most customers didn’t buy from the last 45+ days, 11% of customers bought recently from 0-10 days. Top customers who bought in the last 3 days plotted as per their purchases.
Our customers are more likely to buy wines, followed by Meat.
Filtered on low-income customers. Clearly shows these customers are more likely to buy at the time of discount/coupons.
This clearly shows the 20-40 yrs age group more likely interested in search-engine camp and email camp. The 60-80 yrs group prefers social-media camp, but 40-60 yrs are more likely professionals so they picked email camp, followed by social media camp.