AI is a powerful marketing tool with a wide range of capabilities, including content creation, ad targeting, chatbots, and automation. In recent years, it has gained significant traction with studies showing that over 60 percent of marketers have used AI to accomplish their objectives. While AI is helpful in multiple areas of marketing, it’s especially beneficial for marketing analytics. As we explained in a previous blog, businesses leverage marketing analytics to assess the effectiveness of their campaigns through observable metrics and data visualizations. In this blog, we will explore how AI is great for analyzing marketing data, spotting patterns, and revealing valuable insights.
Challenges in Data Analytics Before AI
In 2023, approximately 328.77 million terabytes of data are generated daily. This number was much lower pre-AI, but still overwhelming. Each click, impression, and view added to the mountain of data that analysts struggled to sort through.
Only experienced data scientists were able to make sense of the data, but few businesses employed the experts that they needed. Consequently, businesses rarely selected the right data and attribution models for their objectives.
Data silos scattered relevant data across multiple places, creating trouble for brands trying to assess their marketing performance. Attempts to correlate data from disparate sources resulted in faulty and irrelevant comparisons.
Benefits of AI
By analyzing historical customer data and identifying trends, AI algorithms provide valuable insights into customer preferences, purchase behavior, and buying patterns. This enables businesses to make more accurate sales forecasts and optimize their marketing strategies accordingly.
Through natural language processing and machine learning techniques, AI can automate your content creation processes. It can also analyze audience engagement through metrics such as click-through rates.
Many companies have used AI to increase personalization. For example, AI-powered chatbots can give users tailored product recommendations, answers to common questions, and personalized marketing messages. Another way AI can boost personalization is by generating customer personas so businesses can create campaigns that will resonate with prospects.
AI makes it easier for companies to gain accurate, timely, and useful insights from their large datasets. Marketers often use it to identify and understand anomalies in market behavior and campaign performance.
It’s more effective at gathering, filtering, and analyzing data from multiple sources. This reduced the time and effort spent on data consolidation. It also results in higher quality data and better decision-making.
AI and Surf
Surf’s NLP data dashboard leverages AI to take the guesswork out of data analytics. Our partners utilize the technology to analyze audiences through a variety of categories and filters. The dashboard also provides visualization tools so that marketers can understand the data that has been collected. Book a meeting to learn more.