New Independent Research Report Names Leaders in Marketing Mix Modeling
According to Forrester, an independent research firm serving global leaders in business and technology, “MarketShare earns its position as a Leader specifically for its innovative approach to marketing mix and its deep analytical capabilities.” Describing leaders as “analytic visionaries,” Forrester said MarketShare “has the right mix of strategy consulting and change management services, customized modeling expertise, an easy-to-use mix and optimization tool, and in-depth cross-industry and domain expertise.”
“The message coming out of this Forrester WaveTM report couldn’t be better for our clients who trust our solutions to help make better decisions,” says Wes Nichols, Co-founder and CEO of MarketShare. “Our top scores in Strategy, Market Presence and Current Offering, along with Forrester’s description of leaders as ‘analytic visionaries’ reinforces for us the market perception that we’re leading the way in predictive analytics. Read the full report from Forrester and see for yourself why our fast-growing roster of major global companies is moving the industry beyond traditional media/marketing mix modeling, digital attribution and other ‘Analytics 1.0’ solutions, and toward integrating analytics across their entire organizations.” (MarketShare’s vision of “Analytics 2.0” was featured as the March Harvard Business Review cover story.)
The Forrester report cites a MarketShare client’s own words, saying, “The depth and breadth of experience of the leadership and the support team is significant and not likely to be found with another vendor.” MarketShare’s top ranking in the report’s “Current Offering” category encompasses services, technology/software, data, methodology, analysis and Net Promoter Score (NPS). Its top-ranked position in “Strategy” covers: management team strength, along with corporate, product, and global strategy. Under “Market Presence,” where MarketShare also earned the top score, the individual criteria were: financial stability, global footprint, customer base and packaging.
In its new report, Forrester describes an evolving market that “is growing as marketers increasingly appreciate different methodologies and the unique insights that support them in making key budget allocation decisions.” Leading vendors “have the capability to act as strategic partners advising clients on communication, marketing and business strategy decisions,” the report says.
The Forrester WaveTM: Marketing Mix Modeling, Q2 2013 – written by Tina Moffett, Customer Insights Analyst, and Luca Paderni, VP and Research Director - Marketing Leadership Practice at Forrester – also highlights the evolution of marketing mix modeling as it expands into consumer and business insights. With cheaper computational power and increasingly complex statistical model capabilities available to them, marketers can now uncover insights on consumer behavior and marketing performance across all channels, even down to the campaign level.
“There’s a reason why half of Fortune 50 companies have worked with MarketShare, and that our software now influences the allocation of $10’s of billions in marketing investments,” says Nichols. “And we believe it’s the same reason Forrester found us to be a leader: MarketShare’s track record of groundbreaking strategic solutions and software innovations, pushing the boundaries of what marketers once thought impossible, is delivering bottom-line results that brands can’t ignore.”
The complexities resulting from today’s multi-channel world are leading to traditional marketing and mix analytic methods being displaced by solutions like those offered by MarketShare, as marketers are demanding ever-more sophisticated solutions. Marketers who read Forrester’s latest report will now have a clear mile marker for helping them choose the best partner to bring order to chaos and move beyond traditional media and marketing mix modeling.
MarketShare is an analytics company that enables businesses to grow efficiently by uncovering which actions really drive results. Founded in 2005, MarketShare has a track record of groundbreaking innovations in data, modeling and software, and has worked with over half of the Fortune 50. MarketShare's platform provides a combination of technology, data, modeling and business intelligence solutions that lead to improved decision making, next-generation attribution and optimization for businesses. The company is headquartered in Los Angeles, with offices in San Francisco, New York, London, Tokyo and Bangalore. For more information, visit: www.marketing.neustar/marketing-analytics
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