Driving Forward: Balancing Retrospective Analysis and Predictive Insights in Digital Marketing

Imagine you are driving a car on the highway, heading toward a destination. The road ahead is full of possibilities, with multiple lanes, exit ramps, and speed limits. Now, picture yourself driving this car while only looking in the rearview mirror. You can see where you have been and how the road behind you looked, but your view of what is coming is severely limited. This is akin to relying solely on year-over-year metrics in digital marketing. While these metrics illuminate valuable insights into past performance, they do not give you the full picture of what's ahead or allow you to anticipate the twists and turns that may come your way.

Just as driving requires a combination of checking your rearview mirror, side mirrors, and looking ahead, effective goal setting in digital marketing requires a balance of retrospective analysis and forward-thinking strategies. Year-over-year metrics are useful for understanding trends and patterns, but if they are your only focus, you risk missing opportunities and challenges that lie on the road ahead. In marketing, as in driving, it is crucial to adjust your speed, change lanes, and make strategic decisions based on real-time conditions and the broader landscape, not just where you've already been.

Ignoring traffic patterns and trends like rush hour, seasonal changes with an influx of transient drivers, or predictable events can also add unnecessary hazards to your journey. You would never choose to drive through concert or sporting event traffic, and you’d likely avoid school zones at all costs. While driving, AI and Machine Learning assist GPS in navigating to avoid these obstacles. In marketing and strategy, AI and Machine Learning identify long term trends and seasonality to provide more accurate expectations of growth and performance.

To navigate the highway of digital marketing successfully, you must integrate past data with current and predictive insights. Think of it as using your car's GPS, which combines historical data with real-time traffic updates to guide you efficiently to your destination. By looking forward and anticipating changes, you can set more dynamic goals, respond to developing trends, and steer your marketing efforts in the right direction. Focusing solely on the rearview mirror—your year-over-year metrics—may keep you moving, but without a clear view of what's ahead, you might find yourself unprepared for the journey's inevitable surprises.

WMX deploys SARIMA machine learning models to provide accurate revenue forecasts that leverage years of your data to provide improved visibility compared to year-over-year metrics. Time Series Analysis models also provide our data team with the ability to capture seasonality that may exist within cost and revenue data. This gives you the ability to avoid previously unseen obstacles and take advantage of reliable peaks in your business.

With WMX as your marketing copilot, you can trust that our complete toolkit provides all you need for a fantastic marketing journey. Our client partners, content experts, and data build quality relationships so you always have someone with you. Our content experts map out your path to success efficiently conserving resources and getting the most mileage out of every advertising dollar. With intelligence tools that leverage machine learning to forecast revenue and identify seasonality, our data team provides the best visibility and reporting. This frees your attention to set intelligent goals and evaluate performance metrics through your dashboard gauges. WMX is your road trip partner for the journey ahead.