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High Quality Lecture Notes for Marketing Analytics

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Master the Science of Marketing Analytics with our Analytical Methods of Marketing Lecture Notes! Are you ready to harness the power of data-driven marketing? Look no further! Introducing our meticulously crafted Analytical Methods of Marketing Lecture Notes – your gateway to mastering the art o...

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  • June 14, 2023
  • 2
  • 2021/2022
  • Class notes
  • Dr irene scopelliti
  • All classes
  • Unknown
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SMM494 Analytical Methods for Marketing Week 1 Lecture Notes


What is Marketing Analytics?
 Big Data
 Quantitative Marketing Frameworks
o Theories
o Research Questions
o Hypotheses
 Marketing Databases
o Empirical evidence to test and back up theories
o Primary, Secondary
 Tools to analyse data through the lens of a marketing framework
o Techniques and Procedures


Benefits of Marketing Analytics
 Formulate Logical Marketing Strategies
 Quantify Outcomes
 Optimisation, ROI and Accountability


Applications of Predictive Analytics
 Data can help make predictions about the future
 Prediction reduces uncertainty
o Higher chance of success
 Macro-predictions
 Micro-predictions
Qualitative Variables
 Quantitative variables can be sometimes be measured using qualitative
scales
 Nominal Scales
o Numbers represent non-ordered qualitative information
o Observations are identical or different
 Ordinal Scales
o Numbers represent ordered qualitative information
o Observations are greater or smaller
 Interval Scales
o Order and equal units
o No true 0
o Quantitative Information
o Intervals between adjacent ranks are equal

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