Instead of cracking your head on the entire data available it is of utmost importance to target the data which actually matters. Here are 5 ways to do so:-

1. First, find out the KPI (key performance indicator) of interest.

2. Drain out the noise that is creating useless buzz. This includes activities like likes and retweets graphs.

3. Filter the data patterns that make sense and avoid irrelevant or accidental patterns.

4. Use these data patterns to generate meaningful conclusions.

5. Avoid redundancies by sharing information. This is a key point in the field of analytics.

To read more, follow: http://marketingland.com/blinded-by-data-181971

With tons of data available with marketers to measure the impact of their business, one thing that need to be kept in mind is not to get entangled in measuring everything. Measuring something that does not have the capability to influence your corporate strategy isn’t a good idea. Knowing what your business is trying to achieve and then deciding on marketing metrics is foremost.  Steve Robins, principal of Solution Marketing Strategy, in an article in TechTarget provides the following points of advice to detangle your metrics:
• Separating strategic KPI’s from nonstrategic metrics
• What to measure?
• Operationalizing KPI’s
• Metrics predict the future
• Finally, looking at best practices
For more insights into this piece follow the link:  : http://searchcrm.techtarget.com/feature/Dont-get-tangled-in-marketing-metrics?utm_medium=EM&asrc=EM_NLN_45313060&utm_campaign=20150716_Spend%20management:%20Were%20SAP%27s%20procurement%20acquisitions%20really%20worth%20$15%20billion?_jbiscobing&utm_source=NLN&track=NL-1815&ad=901719&src=901719

A firm needs to build a firm base that gradually can destroy others. The amount of information produced by social media platforms is an excellent way to measure a business’s both real and potential value. 56% of marketers named the ‘inability to tie social media to business outcomes’ as the central challenge to measuring ROI from social media. Gauging customer demand prior to launch using social media helps minimize risk, especially for entrants. Social media data can be correlated with an organization’s KPIs to know their impact upon one another indicating its usefulness. Allowing big data analytics capabilities to the social media platform helps firms to cross-reference social data to other data streams from their business. Read more about this article at: http://channels.theinnovationenterprise.com/articles/social-media-analytics

According to McNett (CMRP, Life Cycle Engineering), KPI (key performance indicators) should contain objectives, source, performance criteria and action plan to be effective. KPI helps managers to evaluate a company's performance and spot weak points which need manager's attention. According to Michael Porter (strategy professor at the Harvard Business School), KPI should be related to organizational goals and strategy, so that an organization can have a sustainable growth. Strategic asset management plans help to convert organizational goals into asset management objectives. Asset management functions support the company's goals and objectives. So, KPI helps to achieve organizational asset management objectives. Performance and evaluation of assets not only include technical performance, but also the performance of the physical asset portfolio. Read more at: http://www.industryweek.com/maintenance/monitoring-asset-management-strategy-execution-kpis

Visual social intelligence brings businesses closer to their customers. If companies have real-time data, they can identify influencers, respond to customer concerns, and track business success. Social media intelligence gathered and analyzed by the marketing team is useful for campaign planning, PR tracking, and influencer identification. Social intelligence provides insightful information to roles across businesses. It measures the success of KPIs and other success measurement factors, thus improving customer service. Read more at: : http://www.socialmediatoday.com/content/connecting-businesses-customers-using-visual-social-intelligence