Today’s prediction comes from Ovum’s 2013 Trends to Watch: Education Technology and focuses on the following:
“Institutions will turn more aggressively to data and analytics for institutional performance management (IPM).”
So what does this mean for our customer institutions?
As it relates to marketing, we believe that big data and attribution are changing the landscape of higher education recruitment. Together, these should be at the core of any comprehensive digital media strategy – they will help you better understand campaign performance and show you where you should be spending your money.
Being able to better track the entire history of an inquiry through each and every media source is critical, especially now when so many different marketing channels can influence a prospective student to act. Through an attribution model, you can discover how the various touch points influence the decision to enroll process. With attribution, you may learn as we have, that channels which appeared to deliver poor results may actually be a major contributor to the decision to inquire process.
If you are utilizing lead verification, lead scoring, or modeling you are already using basic elements of big data. Adding new capabilities like attribution will give you even more insight into your audience.
Direct Marketing News published its Marketers’ 2013 Wish List and when readers were asked what technology they couldn’t live without, 24% said an analytics platform. And while 17% agreed that talk about Big Data is overhyped, we believe there is no doubt that data and analytics will play an even bigger role in marketing this year than ever.
Stay tuned for my next posting where I’ll dive into predictions and trends around Marketing and Mobile in 2013. Thanks for following along!