You have just finished analyzing data for a marketing project. Before moving forward, you share your results with members of the marketing team to see if they might have additional insights into the business problem. What practice does this support?

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

In this scenario, the practice supports data-driven decision-making because the researcher shared his or her results with members of the marketing team to see if they might have additional insights into the business problem

chilljain33 chilljain33 · Answer 2 · 2021-12-29T07:20:31+01:00

The additional planning that may be done after sharing this data with the organization might be helpful in contributing towards the growth of the organization. This process is referred to as Data-backed planning.

Data backed planning can be used to hamper the growth of the organization in a positive way by using numbers that can help analyzing and discussing new strategies by the management.

Data is considered to be an important source of analysis which is purely backed by performance, not in efficiency, but in numbers. Data backed research also helps identifying the problem with one single area.

If there is a decline in sales only due to one buyer, it can be denoted by his name, say Mr. A and will also let the organization identify and focus more on the core problem rather than worrying about entire sales.

Data backed planning gives results in absolute numbers and is not based on the efficiency in the performance. However the efficiency can be determined based on numbers.

Hence, the above statement denotes that the data backed analysis is a process based on the sharing the data of business insights with marketing team to help improve the inner side of the business.

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