Marketing analytics are a popular industry within the data collection industry. They help businesses know what worked previously and predict what might work in the future to keep stock selling. This data encompasses a wide range of information, including demographic reporting tools, geospatial data analysis, and location intelligence data.
Demographic reporting tools and location services are important marketing tools for businesses around the world. These tools allow them to know where you are and what has been frequently bought or requested in your area to give you suggestions based on that information they’ve already gathered. A 2014 global business survey reported that over half of the businesses that responded said that location intelligence is ranked as critically or very important to their future planning. They implement this data to improve their business plans, and marketing analytics takes all of that into account to make it an easier task overall.
Not only is it important for businesses, but it’s a marketable skill in the job market as well. The U.S. Bureau of Labor Statistics estimates that between 2012 and 2022, jobs with experience in this industry will be growing. This includes not just marketing analytics for businesses, but geospatial data such as geographers and cartographers. Gartner has estimated that there will be over 4 million data jobs like this available by 2020. That’s a lot of demand for people with knowledge in this field.
Even animal researchers can benefit from this industry, though not in marketing. More than 12 million RFID tags were sold in 2011. These are the tags used on both land and aquatic animals to track their migratory movements and gather data scientists and researchers need to understand them. This kind of information has been fundamental in understanding a lot of different things about animals that we didn’t know before the invention of these tags. And the number of tags sold is estimated to grow to over 200 billion by 2021.
Data analytics is a vast and growing industry with numerous applications in the job field. Whether you’re interested in marketing or just simple data analysis such as those used in cartography or animal research. And according to reports, someone with knowledge in those fields is about to be very valuable in the job market.