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Foundations of marketing analytics

Approx. 6 hours to complete

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Course Summary

Learn the Foundations of Marketing Analytics and become an expert in analyzing data to make strategic decisions.

Key Learning Points

Understand the basics of marketing analytics and its importance in business decision-making.
Learn how to use various analytical tools to analyze customer behavior and market trends.
Develop skills in data visualization and presentation to effectively communicate insights to stakeholders.

Learning Outcomes

Understand the role of marketing analytics in business decision-making
Learn how to use analytical tools to analyze customer behavior and market trends
Develop skills in data visualization and presentation to effectively communicate insights to stakeholders

Prerequisites or good to have knowledge before taking this course

Basic understanding of marketing principles
Familiarity with Excel or other spreadsheet software

Course Difficulty Level

Intermediate

Course Format

Online self-paced
Video lectures
Assignments
Quizzes

Similar Courses

Marketing Analytics and Data Science
Marketing Analytics: Know Your Customers

Related Education Paths

Notable People in This Field

Neil Patel
Avinash Kaushik

Related Books

Description

Who is this course for?

This course is designed for students, business analysts, and data scientists who want to apply statistical knowledge and techniques to business contexts. For example, it may be suited to experienced statisticians, analysts, engineers who want to move more into a business role, in particular in marketing. You will find this course exciting and rewarding if you already have a background in statistics, can use R or another programming language and are familiar with databases and data analysis techniques such as regression, classification, and clustering. However, it contains a number of recitals and R Studio tutorials which will consolidate your competences, enable you to play more freely with data and explore new features and statistical functions in R. Business Analytics, Big Data and Data Science are very hot topics today, and for good reasons. Companies are sitting on a treasure trove of data, but usually lack the skills and people to analyze and exploit that data efficiently. Those companies who develop the skills and hire the right people to analyze and exploit that data will have a clear competitive advantage. It's especially true in one domain: marketing. About 90% of the data collected by companies today are related to customer actions and marketing activities.The domain of Marketing Analytics is absolutely huge, and may cover fancy topics such as text mining, social network analysis, sentiment analysis, real-time bidding, online campaign optimization, and so on. But at the heart of marketing lie a few basic questions that often remain unanswered: (1) who are my customers, (2) which customers should I target and spend most of my marketing budget on, and (3) what's the future value of my customers so I can concentrate on those who will be worth the most to the company in the future. That's exactly what this course will cover: segmentation is all about understanding your customers, scorings models are about targeting the right ones, and customer lifetime value is about anticipating their future value. These are the foundations of Marketing Analytics. And that's what you'll learn to do in this course.

Outline

Module 0 : Introduction to Foundation of Marketing Analytics
Foundations of Marketing Analytics
Setting up the environment and exploring the data (recital)
.R files and dataset

Module 1 : Statistical segmentation
Introduction
Hierarchical segmentation
Selecting the "right" number of segments
Segmentation variables
Recency, frequency, and monetary value
Computing recency, frequency and monetary value with R (Recital 1)
Data transformation
Preparing and transforming your data in R (Recital 2)
Running a hierarchical segmentation in R (Recital 3)
Acxiom URL
Instructions before starting the quiz 1
Quiz module 1 - 20% of final grade

Module 2 : Managerial segmentation
Limitations of statistical segmentation
Developing a managerial segmentation
Coding a managerial segmentation in R (Recital 1)
Describing segments
Segmenting a database retrospectively in R (Recital 2)
Segments and revenue generation
R tutorial (Recital 3)
Instructions before starting quiz 2
Quiz module 2 - 20% of final grade

Module 3 : Targeting and scoring models
Can Target predict a customer is pregnant?
What you need to develop a scoring model
Calibration data and statistical model
Building a predictive model in R (Recital)
Instructions before starting quiz 3
Quiz module 3 - 20% of final grade

Module 4 : Customer lifetime value
What is customer lifetime value and why it matters
Transition probabilities and transition matrix
How to compute a transition matrix in R (Recital 1)
Using the transition matrix to estimate how customers will evolve
Using the transition matrix to make predictions in R (Recital 2)
Assigning and discounting revenue
Computing customer lifetime value in R (Recital 3)
Instructions before starting the quiz 4
Quiz module 4

Summary of User Reviews

Discover the foundations of marketing analytics with this course on Coursera. Students have given high praise for the practical knowledge gained and the engaging presentation style of the instructor. Many users found the course to be a great introduction to marketing analytics.

Key Aspect Users Liked About This Course

practical knowledge gained

Pros from User Reviews

Engaging and knowledgeable instructor
Practical and applicable knowledge gained
Great introduction to marketing analytics
Well-structured course content
Helpful quizzes and assignments

Cons from User Reviews

Some users found the course to be too basic
Limited in-depth coverage of certain topics
Lack of interaction with other students
Some technical difficulties with the platform
Not suitable for advanced marketers

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