The Human Side of Marketing Analytics

. May 9, 2019

A successful marketing analytics program requires much more than data, technology and number crunching. There’s also a human side that is critical to achieving the best results. Listen in as Damian Fernandez, VP of Global Analytics for Fossil Group, shares details of how his organization has built a strong and highly successful analytics culture by connecting with the “human side” of analytics across a global organization.

Fossil Group is a 2018 ANA Genius Awards winner in the category of Data & Analytics Growth. You can see more video of Fossil Group’s analytics achievements — along with those of other Genius Awards winners and finalists — on the ANA Genius Awards website, here.

Video Transcript

Damian Fernandez: For us, something that is fundamentally important is to drive a data driven culture within the company. In essence what my team does is we help the company make smart decisions across different functional areas within the company.

We line up our analytic strategy with the company strategy. We get to together with the CEO and the key executives that report to him. The company decides on their strategic plan. Then we align their analytic strategy to support that company’s strategy. We’re fully aligned from the beginning.

I believe that fundamentally in analytics world, we spend too much time thinking about the methodologies, the math, the deep learning algorithms and very little time thinking about the human aspect of it.

What’s most important from my perspective is to change the behavior of the decision-making. The decision makers are the ones that are on a day-to-day basis, changing prices, deciding on a marketing investment, affecting supply chain decisions. Those people are the people that I need to convince to utilize the outcome from my team. Those insights drive different decisions and unfortunately in my experience, we’re not focusing enough on how do we change that behavior.

The analytics in itself is useless unless you can drive changes in decision-making and those other changes that I believe add value to the business. We have an analytics council to make sure that we’re working on the right problems but rather want to focus on things that truly adds value to the company.

One way that we look at these is we run controlled experiments to identify if what we’re doing truly changes the behavior of people. For example we create models to model the pricing elasticity by brand and product feature.

We identify where to raise prices or lower prices, how the demand would shift around. Then we use that to optimize our pricing.Then we validate that, we e-market this. It’s a challenge that I really like.

 

Tags: , ,

Category: Adoption, Basics, Case Studies, Culture, Decision-Making, How-To, Organizational, People, Strategy, Videos

About the Author ()

Daniel Kehrer is Executive Editor of the ANA Data Analytics Center (DAC), a leading voice of thought leadership and education in marketing measurement, data and analytics. He is also the Founder of BizBest Media Corp. and previously headed marketing at MarketShare LLC, an advanced marketing analytics technology company.

Leave a Reply

Your email address will not be published. Required fields are marked *