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    Analytics: Marketing Optimization

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    praveendkp
    Analytics is the discovery and communication of meaningful patterns in data. It relies on statistics, computer programming, and operations research to quantify performance and often uses data visualization. Firms apply analytics to business data to describe, predict, and improve performance in areas like marketing, retail, and fraud detection. Business analytics refers to exploring past business performance using data analysis and statistical methods to gain insights and drive planning. Examples include using marketing analytics to optimize campaigns and guide investment based on customer data, and using portfolio analysis to segment borrowers and make lending decisions.

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    Analytics: Marketing Optimization

    Uploaded by

    praveendkp
    37 views1 page
    Analytics is the discovery and communication of meaningful patterns in data. It relies on statistics, computer programming, and operations research to quantify performance and often uses data visualization. Firms apply analytics to business data to describe, predict, and improve performance in areas like marketing, retail, and fraud detection. Business analytics refers to exploring past business performance using data analysis and statistical methods to gain insights and drive planning. Examples include using marketing analytics to optimize campaigns and guide investment based on customer data, and using portfolio analysis to segment borrowers and make lending decisions.

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    basics of analytics

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    Analytics

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    Analytics is the discovery and communication of meaningful patterns in data. It relies on statistics, computer programming, and operations research to quantify performance and often uses data visualization. Firms apply analytics to business data to describe, predict, and improve performance in areas like marketing, retail, and fraud detection. Business analytics refers to exploring past business performance using data analysis and statistical methods to gain insights and drive planning. Examples include using marketing analytics to optimize campaigns and guide investment based on customer data, and using portfolio analysis to segment borrowers and make lending decisions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    37 views1 page

    Analytics: Marketing Optimization

    Uploaded by

    praveendkp
    Analytics is the discovery and communication of meaningful patterns in data. It relies on statistics, computer programming, and operations research to quantify performance and often uses data visualization. Firms apply analytics to business data to describe, predict, and improve performance in areas like marketing, retail, and fraud detection. Business analytics refers to exploring past business performance using data analysis and statistical methods to gain insights and drive planning. Examples include using marketing analytics to optimize campaigns and guide investment based on customer data, and using portfolio analysis to segment borrowers and make lending decisions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Analytics

    Analytics is the discovery and communication of meaningful patterns in data. Especially valuable in
    areas rich with recorded information, analytics relies on the simultaneous application of statistics,
    computer programming and operations research to quantify performance. Analytics often favours
    data visualization to communicate insight.
    Firms may commonly apply analytics to business data, to describe, predict, and improve business
    performance. Specifically, arenas within analytics include enterprise decision management, retail
    analytics, store assortment and SKU optimization, marketing optimization and marketing mix
    analytics, web analytics, sales force sizing and optimization, price and promotion modelling,
    predictive science, credit risk analysis, and fraud analytics. Since analytics can require extensive
    computation, the algorithms and software used for analytics harness the most current methods in
    computer science, statistics, and mathematics.
    Business analytics (BA) refers to the skills, technologies, applications and practices for continuous
    iterative exploration and investigation of past business performance to gain insight and drive
    business planning. Business analytics focuses on developing new insights and understanding of
    business performance based on data and statistical methods. Business analytics makes extensive use
    of data, statistical and quantitative analysis, explanatory and predictive modeling,[2] and fact-based
    management to drive decision making. Analytics may be used as input for human decisions or may
    drive fully automated decisions.
    Some examples of usage of analytics are:
    Marketing optimization
    Marketing organizations use analytics to determine the outcomes of campaigns or efforts and to
    guide decisions for investment and consumer targeting. Demographic studies, customer
    segmentation, conjoint analysis and other techniques allow marketers to use large amounts of
    consumer purchase, survey and panel data to understand and communicate marketing strategy.
    Web analytics allows marketers to collect session-level information about interactions on a website.
    Those interactions provide the web analytics information systems with the information to track the
    referrer, search keywords, IP address, and activities of the visitor. With this information, a marketer
    can improve the marketing campaigns, site creative content, and information architecture.
    Portfolio analysis
    In this, a bank or lending agency has a collection of accounts of varying value and risk. The accounts
    may differ by the social status (wealthy, middle-class, poor, etc.) of the holder, the geographical
    location, its net value, and many other factors. The analytics solution may combine time series
    analysis, with many other issues in order to make decisions on when to lend money to these
    different borrower segments, or decisions on the interest rate charged to members of a portfolio
    segment to cover any losses among members in that segment.

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