Welcome to the 15th episode of the Naked Analyst. Each week I will be your guide to the most thought provoking roundup of the best new research about data and analytics.
This week we feature 4 pieces of research on our doclens.com website and data about the financial industry continues to flow at a rapid rate.
We open with an analysis of how to optimise digital marketing spend by Datalicious. They analysed 702 million media touch points, 104 million purchase paths and 75 thousand conversions across five months in the marketing of seven leading brands in Australia. They build a strong case for using multi-touch attribution to measure return on advertising spend. This uses logistic regression to assign custom conversion credits to every campaign touch point along the purchase path. I recommend giving it a read.
Next up we have Analytics for Home Lenders in a survey from Accenture of nearly 4,000 retail banking customers in North America. The digitally aware, always-connected consumers in the United States now represent more than 75 million people and they are driving changes in behaviours with:
Next, EY’s second Global Consumer Insurance survey is out with results confirming that the insurance industry is facing the same type of consumer-led digital disruption that retail, banking, media and other sectors have experienced in recent years.
Of note is the high turnover and low trust of consumers signalling serious relationship issues. The survey found that 38% of customers who are insurance company advocates also close policies or switch providers. Ouch - not a lot of loyalty.
Finally we have a high level proposal from Bain & Company published in the Harvard Business Review on How To Balance Creativity and Analytics. A short but useful way to think about gut versus math.
And that’s it for this week, go to doclens.com for more analysis on any or all of these items. There is now a great deal of free concentrated insight available for you to enjoy on the site.
Until next time, thanks for watching,
Founder, Six Degrees of Data