Let me first note that the current environment can be described for the most part as “data-rich, science poor.” The “future” is already happening for some advertisers, who just happen to be ahead of the curve in adopting advances in marketing science. Others are trying to catch up quickly, while many are still holding on to ROI practices of the past. There are three main components driving the future of analytics, and Web 2.0 is responsible for at least two of them.
First of all, the Internet has definitely reshaped the path-to-purchase for consumers in many categories. Brands have new outlets for advertising through a medium in which consumers can search for information, evaluate alternatives, make purchases, and provide feedback to the brand and other consumers like never before. While consumer purchase dynamics have changed, many marketing mix models still don’t accurately reflect the inter-dependencies among paid, owned, earned media and other marketing activities in driving purchase behavior.