Neil Weitzman, Canada managing partner, Data2Decisions
, a marketing data and analytics group owned by the Dentsu Aegis Network, has opened an office in Toronto.
The consulting practice helps marketers make data-informed decisions about their marketing investments and media budgets.
Using data analysis and statistical modelling, Data2Decisions
helps companies evaluate the effectiveness of their marketing strategy and maximize ROI.
"It's a marketing effectiveness consultancy, which is a fancy way of saying we use data and analytics to help companies get more out of their marketing spend," said Neil Weitzman, SVP data and analytics for Dentsu Aegis Canada and managing partner for Data2Decisions.
"Quite bluntly, it's just understanding how to use analytics so you understand how to better spend your money."
helps clients grow revenue through improved marketing practices and reduce costs through efficiency, leading to net gains that can be worth 2-5% of revenue, or tens of millions for large companies.
In one case study with a U.S. auto manufacturer, Weitzman
said the firm recommended changes that would grow the client's business 8% year-over-year by optimizing its marketing spend across its brand portfolio - increasing spend on opportunity brands and cutting back spend on those that didn't benefit as much from marketing.
said it's largely because agencies and experts haven't been leading the way for their clients.
"There haven't been enough great organizations out there pushing marketers," said Weitzman
"That's what we're going to do."
was brought on three months ago to launch the business.
In the long-term, he
will also work on developing Dentsu Aegis' data, analytics, and media buying capabilities.
Previously he led a Centre of Excellence at Rogers Media focused on audience insights and media analytics; before that he was a VP at Nielsen.
Toronto currently employs three dedicated staff.
said it's already working with several Canadian clients, though he
could not disclose them.