Analytics that provide insights on marketing ROI and performance is typically only a foundational starting point for creating value using marketing analytics.
The extent to which marketing analytics can be activated through the planning process through simulation and optimization and activation is where the most substantial value is unlocked.
Flexible and easy to use simulation and optimization tools allow marketers and other stakeholders to understand optimal allocation of resources across geographies, portfolio elements, channels, programs, segments, campaigns under varying sets of constraints and conditions. By leveraging simulation and optimization tools analytically based decision making becomes interactive and integrated in planning discussions.
Simulation capabilities allow further potential plan changes to be evaluated dynamically as planning discussions and activation is progressed to understand business impact and ROI of decisions in a predictive way.
When marketers are in market or in season simulation and optimization capabilities allow rapid evaluation of incremental impact or required investment to close spend gaps, or can be leveraged if budget reductions are necessary to identify areas where investment can be reduced with least impact.
Truesight Consulting’s simulation and optimization platform part of the market.science studio™ can be rapidly deployed to activate ROMI engagements or leveraged along side already existing analytics output.