What is Last Mile Analytics?
We are kicking off 2020 with a guide devoted to the concept of last mile analytics for marketing teams.
So what is last mile analytics? We think it is the missing piece that connects insights to outcomes. More specifically, it is the process of using automation and collaboration to quantify, prioritize and curate analytics with a bias towards action.
We think it’s kind of important, in fact, according to McKinsey “90% of organizations that are significantly outperforming peers are devoting more than half of their analytics budgets to bridging the last mile.”
Question: As a marketing leader, what’s your strategy for the last mile of your analytics journey?
A Little History
The evolution of marketing technology over the last two decades has enabled us to create highly sophisticated marketing campaigns and, in the process, we’ve generated an unprecedented amount of data to sift through and monitor
Now, instead of having the answers at our fingertips, we are faced with analysis paralysis. Figuring out what to pay attention to, what to ignore, and when to act are rapidly becoming the major problems facing modern marketing teams.
As marketers, we have always been pressured to deliver results by doing more with less. Lean teams and small budgets have forced us to be innovative and creative in our approach while marketing technology was supposed to liberate us from tedious number crunching. Instead, we are shackled to our data more than ever.
It is actually a bit ironic that the tools that we expected to deliver results are causing us to spend more time analyzing data than acting on it. Now, rather than doing the work we love, we are building reports that no one looks at or when they do, the analysis is too old to have an impact.
The cartoon below is painfully funny because it is painfully true. We’ve all admired our dashboards and then scratched our heads trying to understand them and, in the process, wasted time that delayed action.
A Marketer’s Guide To Last Mile Analytics
Getting the right data to the right people at the right time is always easier said than done and in marketing this is incredibly difficult. This is the challenge of last mile analytics and in this guide we cover 5 key concepts to help you on your journey:
- Accuracy Over Precision – It’s not rocket science! Be directionally accurate
- Timeliness Is Paramount – Trends and anomalies captured quickly is key.
- Quantify Data and Notifications by Impact. – Not all campaigns are created equally.
- Make it Newsworthy – Intelligent curation helps filter out noise.
- Team-First Data – Breakdown data silos. Less reports, more eyeballs.
The guide covers all of that and more, including how to leverage automation and messaging platforms like Slack.
If you are ready to get started, get the guide today!
Until next time,