In the age of analytics, The Marketing Analytics Practitioner’s Guide serves as a comprehensive guide to marketing management, covering the underlying concepts and their application.
As advances in technology transform the very nature of marketing, there has never been greater need for marketers to learn marketing.
Essentially a practitioner’s guide to marketing management in the 21st century, the guide blends the art and the science of marketing to reflect how the discipline has matured in the age of analytics.
Application oriented, it imparts an understanding of how to interpret market intelligence and use analytics and marketing research for taking day-to-day marketing decisions, and for developing and executing marketing strategies.
Statistics provide the frameworks for quantitative studies in marketing analytics and research. They are the guard rails that reveal the significance and accuracy of the results. Techniques such as perceptual maps, cluster analysis, factor analysis, regression and market response models provide for greater clarity, and permit deeper analysis and visualization of data.
This chapter reviews the statistical techniques and frameworks that are of greater relevance to research and analytics, including probability theory, Bayes theorem, discrete and continuous data distributions, hypothesis testing, correlation, regression, and interdependence techniques like factor analysis and cluster analysis.