Dr. Gehan Dhameeth (DBA, Ph.D.(ABD)) is an accomplished academician with years of experience in teaching and research. He brings a wealth of knowledge and expertise to the classroom, having published numerous scholarly articles and presented at conferences worldwide. At Lanka Business News, we were fortunate enough to have interviewed Dr. Gehan Dhameeth, who shared his insights on the importance of data analytics in today’s business landscape.
1. What is your designation at Wells College?
I am an Associate Professor of Business
2. What entails your administrative responsibilities at Wells College?
I serve as the chair for two departments; the Business and Data Analytics Departments.
3. What is your teaching focus?
I focus on quantitative classes such as Business Analytics, Marketing Analytics, Visual Analytics, and Statistics. I also teach other classes, such as Marketing and Brand Management.
4. Why is marketing analytics an important course for business students in today’s business context?
Marketing analytics is critical in today’s business landscape because it provides valuable insights and data-driven decision-making capabilities. Marketing Analytics is an important course due to the following reasons.
Data-driven decision-making: Data-driven decision-making enables businesses to make informed decisions based on objective data rather than gut feelings or assumptions. It provides quantitative evidence about customer behavior, market trends, and campaign performance, allowing marketers to optimize their strategies and allocate resources more effectively.
Customer understanding: Marketing analytics enables businesses to understand their customers better. Marketers can identify target segments, personalize marketing messages, and create more effective customer acquisition and retention strategies by analyzing customer data such as demographics, preferences, purchase history, and online behavior.
Campaign performance evaluation: Marketing analytics enables businesses to assess the effectiveness of their marketing campaigns. Marketers can assess which campaigns produce the desired results and optimize underperforming ones by tracking key performance indicators (KPIs) such as conversion rates, click-through rates, customer engagement, and return on investment (ROI).
Market trend analysis: Marketing analytics provides insights into market trends, competitor activities, and industry benchmarks. Marketers can identify emerging trends, anticipate customer needs, and adjust their strategies by monitoring social media, online conversations, and industry publications. This proactive approach assists businesses in staying ahead of the competition and capitalizing on new opportunities.
Budget optimization: Marketing analytics aids in the optimization of marketing budgets by identifying the most effective channels and campaigns. Businesses can allocate resources more strategically by analyzing the ROI of various marketing initiatives, investing more in high-performing channels, and spending less on less effective ones. This ensures efficient resource allocation and maximizes the return on marketing investments.
Forecasting and predictive analysis: Marketing analytics enables businesses to forecast future outcomes and make data-driven predictions. Marketers can forecast customer behavior, demand patterns, and market trends using historical data and statistical modeling techniques. This foresight enables businesses to plan their marketing strategies, product launches, and promotional activities more effectively.
Marketing analytics fosters a culture of continuous improvement within organizations. By analyzing data and measuring performance, marketers can identify areas for improvement, test hypotheses, and implement data-driven optimizations. This iterative approach assists businesses in refining their marketing strategies over time and achieving better results.
5. What educational background do you have to teach Analytics Classes?
I have two master’s degrees (MBA and M.Sc.) and Two Terminal Degrees (DBA and Ph.D.). The M.Sc. is a Business Data Analytics Degree, and my Ph.D. dissertation is related to Marketing Analytics.
6. Why do few students take these analytics classes compared to other classes?
Students may avoid taking marketing analytics classes for a variety of reasons, and they include the following.
Difficulty perception: Marketing analytics courses frequently involve data analysis tools, statistical techniques, and data interpretation. Some students may find these technical aspects difficult or intimidating, especially if they have no prior experience or confidence in quantitative analysis.
Lack of interest: Not all students are passionate about marketing or data analysis. They may prefer other areas of study that are more closely related to their interests or career goals. If students do not see the relevance or value of marketing analytics in their chosen field, they may concentrate on other subjects.
Limited awareness: Some students may be unaware of the importance and applications of marketing analytics in today’s business world. They may not fully comprehend how it can benefit their future career prospects or the potential benefits it provides. A lack of exposure to or knowledge of marketing analytics may result in a lack of interest or motivation to pursue related courses.
Marketing analytics is often associated with data-driven decision-making and quantitative analysis, which some students may perceive as more analytical and less creative than other marketing disciplines. Students with a strong interest in creativity and qualitative aspects of marketing may be less likely to enroll in marketing analytics courses.
Fear of math or statistics: Marketing analytics entails working with data and applying statistical concepts to analyze and interpret the results. Students who are afraid of math or statistics may avoid marketing analytics classes because they are concerned about their ability to grasp and excel in the quantitative aspects of the subject.
Alternative course availability: Students may have a variety of elective courses or specialization options to choose from, and they may prioritize other subjects that align more closely with their career goals or personal interests. If they are limited in space or must make choices within a curriculum, marketing analytics may not be their first choice.
7. What is your advice as a professor to business students who intend to take a marketing analytics class?
As a professor, my advice to business students are;
Accept the importance of data: Recognize that marketing analytics is becoming increasingly important in today’s business landscape. Data-driven decision-making is a valuable skill that can give you a competitive advantage in the job market. Accept the opportunity to learn how to use data to drive marketing strategies and make sound decisions.
Develop a strong foundation in statistics and data analysis: Marketing analytics heavily relies on statistical techniques and data analysis. Understanding statistical concepts such as hypothesis testing, regression analysis, and data visualization is critical. Consider taking introductory statistics courses or brushing up on your statistical knowledge before diving into marketing analytics.
Be proactive and hands-on: Marketing analytics is a practical field that necessitates hands-on experience. Participate in class discussions, use the data and analysis tools provided, and participate in case studies or real-world projects. Seek opportunities to apply what you learn in class to real-world marketing scenarios, and consider internships or co-op placements that involve marketing analytics.
Develop your technical skills: Marketing analytics frequently involves working with data analysis tools and software. Learn to use tools like Excel, SQL, Python, R, and data visualization platforms like Tableau. Consider taking online courses or tutorials to improve your technical skills in data manipulation, programming, and statistical analysis.
Collaborate and network: Marketing analytics is a multidisciplinary field that frequently requires collaboration between marketing professionals, data analysts, and IT specialists. Take advantage of group projects and collaborative assignments to improve your teamwork and communication skills. Additionally, seek networking opportunities with professionals in the field, attend industry events, and join relevant professional organizations to broaden your network. Stay current on industry trends: Marketing analytics is a rapidly evolving field, with new techniques, tools, and methodologies emerging regularly. Attend webinars or conferences, read industry blogs, and follow thought leaders in marketing analytics to stay current on industry trends. This will help you stay ahead and adapt to the changing landscape.
Apply critical thinking: Marketing analytics entails interpreting data and deriving actionable insights. Develop your critical thinking skills to analyze and evaluate the results, consider alternative explanations, and make data-driven recommendations. Connect the dots between data analysis and marketing strategy to comprehensively understand the subject.
