Jason Burby,in his recent article describe the importance or rather integrated importance of analytics. I liked the part where he described this not only a technological tool but also a tool that enables effective business and of course to understand your customer. I also echo his thoughts on importance of not viewing things in silo and specifically relating to restricting analytics to understand the digital space. The same requires to also take into consideration the offline bit, like media campaigns, offline promotions, PR, social initiatives, or the industry in general.
My take on the article is that being associated with the analytics field for long, its feel good to know that people and specially marketers all across has started to imbibe the growing importance of this tool.
The Web is the most measurable medium in the history of marketing and yet we have still not figured it out on how to measure it "effectively". I have been fortunate to be associated with companies and projects where analyzing their digital domain are a big challenge. According to me the first challenge I have noticed over the years and with so many companies is the how or where ( to start) bit, specially when everybody wants to be on the bandwagon of digital media and now on social media without defining objective(s) and parameters to analyze the same. With best of tools available its still irony to witness that the biggest enabler of digital space (its ability to monitor) becomes it biggest challenge.
Additionally I believe that management commitment is also an important aspect to this entire exercise which sometimes marketers tend to ignore or undermine. As without having clear mandate (as with analytic you tend to enter an uncharted territory), no short-cuts or short terms ROI, iterative cycles, it does throws challenges; and without the commitment to last till long the entire effort goes in vain with no real justification on ROI. And of course bad taste in the mouth :)
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