The Key to effective management is strong reporting and use of analytical methods to mine history data and generate reports that can effectively help in better improving campaigns.
Analysis using excel is good enough for most campaigns by using built in excel features such as Pivot Table, V-look up etc.
The main benefits of analysis can be very interesting such as getting an insight into the user behaviour and their nature. For instance suppose your analysis shows that your brand term generates most clicks then your offline marketing is helping to generate more online visitors.
Also it can show that some set of keywords on your AdWords Accounts have more conversions or clicks from your content target ted campaigns. Then you could approach websites that have similar theme to these keywords for online display advertising, since you are confident of receiving quality traffic.
Similarly by digging into the keywords in your accounts & campaigns and analyzing your inferences can benefit other forms of advertising/marketing.