Marketing Associates is spinning off its data analytics units into its own brand, Magnify Analytic Solutions. The move is expected to help the marketing firm continue expanding its staff at a rapid clip.
"We thought this would be a good time to spin off Magnify Analytic Solutions as its own business unit," says Mark Petroff, CEO of Marketing Associates
The downtown Detroit-based company has watched data analytics drive a lot of its growth in the last year. The company overall has grown its revenue by 5 percent while the data analytics side of the business has experienced healthy double-digit return.
"We are projecting another 25 percent growth for the (data analytics) business," Petroff says. He adds the company is projecting 8.5 percent overall revenue growth this year.
moved from West Bloomfield to downtown Detroit in 2007, taking several floors of the One Kennedy Square building overlooking Campus Martius. It now employs 45 people in the space after hiring 20 people in the last year, including seven for its Magnify Analytic Solutions
unit. Petroff expects his company will keep that rate of growth going for the foreseeable future.
"I think Magnify Analytics Solutions is going to add another 7-10 people and Marketing Associates is going to add another 7-10 people," Petroff says.
Source: Mark Petroff, CEO of Marketing Associates
Writer: Jon Zemke
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