A Marketing Data Warehouse? It’s about time!
I think by now we all know what a data warehouse is. But is your marketing data also incorporated with your current data warehouse? Traditional businesses have thought data warehousing is for sales, procurement, and customer data but the performance of marketing channels was usually not considered. Here is how Wikipedia defines a data warehouse:
“A data warehouse (also known as an enterprise data warehouse), is a central repository of integrated data from one or more disparate sources. They store current and historical data in one single place that are used for creating analytical reports for workers throughout the enterprise,” Wikipedia.
Just from this definition its quite evident how important it is to incorporate marketing channel data in a business’s data warehouse. When you want to make sense of all the metrics being collected from your marketing activities and its’ impact on the overall business goals you’ll will need access to a reliable data warehouse. If you are relying purely on your marketing channels to store your data e.g. Facebook to store campaign performance data or Google AdWords to store ad performance data, you stand the risk of losing all of that with one or two simple account issues. Read more about the importance of historical data in our previous blog.
An effective data warehouse should serve as a central storage space for all your marketing channels, along with your financial, sales/CRM, market trends, and competitor data. This enables you to carry out advanced analytics that will help you make informed decisions which have a lasting impact on your marketing’s success and efficiency.
If you are contemplating having a marketing data warehouse, here are the top 3 things to consider:
- Security: the privacy of your customers and business information
- Advanced analytics: the need to understand the correlations and causalities of your marketing activities with other aspects of your business and the market.
- Time-to-value: creating a data warehouse in a timely and feasible way
Data warehousing isn’t a new concept, but traditionally it has been something that was exclusive to companies who are willing to invest a significant amount of time and money. At Madtrix we know this isn’t possible for all businesses, so our product has been created with the capability to create an instant data warehouse for all your marketing data. Check out more details about the Madtrix marketing data warehousing capabilities here.
Book a free Madtrix Demo today!
Author: Amelia Dash
A bit about me. I’m the Marketing Technologist at MADTRIX. My background is in digital marketing and I’ve continued my passion by embarking on my Ph.D. thesis on online consumer psychology. Working in Australia, China and now Finland I’ve acquired a pool of knowledge about digital marketing.
If you want to speak directly to me, you can find me on LinkedIn