1)Keyword Marketing-For ad buyers, keyword marketing involves purchasing ad
units, typically banners, on the search results page when a Web surfer searches for
particular keywords and phrases. For search engine optimization professionals,
keyword marketing involves achieving top placement in the actual search listings
[Link] advantage of keyword marketing is the potential to reach the right
people at the right [Link] example, assume a Web surfer enters “buy widgets
online” as a search phrase. First, we know the potential visitor is interested in
widgets. Specifically, they are interested in buying widgets.
Better yet, they are looking to buy online. This three word search phrase tells us
much about what the Web surfer is looking for at that exact moment in time. Some of
its free tools:
Google AdWords Keyword Planner – requires signup to Google AdWords. Uses
Google’s search query data.
Bing Keyword Research – requires signup to Bing Webmaster Tools. Another source
of search query data.
Google Trends – compare keyword popularity over time, across geographies, vs.
other terms, more.
2) Segment of an organisation-A segment is any part or activity of an organization
about which a manager seeks cost,revenue, or profit data. A segment is one of the parts
of a business organization that is utilized to create its product line and services and generate
money. Companies having different segments can gain a competitive advantage over the
market. The company often reports the performance of every segment separately
Examples of segments include departments, operations, sales territories, divisions,
and product lines. Example of a Segment
If the company successfully produces widgets and gets them on store shelves for
retail consumption, the widget division may be viewed as its own business segment
because it generates its own revenue and incurs its own expenses.
A segment is one of the parts of a business organization that is utilized to create its product line
and services and generate money. Companies having different segments can gain a competitive
advantage over the market. The company often reports the performance of every segment
separately.
Examples of segments:
Example 1- Walmart, an American retail corporation, uses various segments in its business
organization, such as the Walmart U.S. segment, which consists of retail stores and digital retail
operations. The Walmart club section solely includes membership in warehouse clubs, and the
company's international segment consists of operations outside of the United States.
Example 2- [Link], a leader in online retail products, has many business segments,
including the North American segment, which comprises retail sales from North American
customers. Additionally, the global sales of storage and databases made by customers who
subscribed through websites with an international focus are included in the international division
of the Amazon Web Services business.
3)Marketing dashboard-A
marketing dashboard is a visual display of
the most relevant information necessary to keep track of key
marketing metrics, and to achieve one or more marketing
objectives. Top-level marketing reports are consolidated and
arranged on a single page, so that the information can be
monitored at a glance. A marketing dashboard displays key marketing
metrics and KPIs in a visual way.
A well-designed analytics dashboard serves as a control panel in your car. You get
all the vital information about the condition of your vehicle without opening the hood
and measuring oil level by yourself.
The same goes for marketing campaigns. You get an in-depth overview of your
marketing efforts without crunching numbers in spreadsheets and analyzing metrics
in tens of different marketing platforms.
This level of visibility allows you to make informed decisions, experiment with your
campaigns more effectively, and make tweak campaigns on the go. However, such
an analytics dashboard is possible only with a well-established data flow to your
dashboarding tools.
A marketing dashboard – It displays key marketing metrics and KPIs in a
visual way.
A well-designed analytics dashboard serves as a control panel in your car. You get
all the vital information about the condition of your vehicle without opening the hood
and measuring oil level by yourself.
The same goes for marketing campaigns. You get an in-depth overview of your
marketing efforts without crunching numbers in spreadsheets and analyzing metrics
in tens of different marketing platforms.
This level of visibility allows you to make informed decisions, experiment with your
campaigns more effectively, and make tweak campaigns on the go. However, such
an analytics dashboard is possible only with a well-established data flow to your
dashboarding tools.)
marketing dashboard is a compilation of all of the pertinent data about a company’s
marketing efforts. Marketing dashboards benefit both marketing and the executive team.
They can give an at-a-glance view that quantifies the overall impact marketing has on
the business and how marketing initiatives increase customer acquisition, retention, and
sales. A marketing dashboard can be invaluable for making strategic decisions and
adjustments to your sales funnel.
So, how do you create a marketing dashboard that is useful and adds value to your
organization? A marketing dashboard should serve the following purpose:
Show KPIs (Key Performance Indicators)
Integrate Data from various sources and present a consolidated view
Provide a way to measure the overall results and investments of your marketing
programs
Provide the ability to measure these metrics and make decisions based on this
information
Creating the right digital marketing dashboard in 2018 is a difficult process mainly
because of the complexity of the digital marketing space. You have social media stats
you need to track for Twitter, Instagram, Facebook, etc. You have Google Analytics and
Search Console that operate as your primary web analytics data source, and you’ll
be tracking SEO performance with SERP Rank Tracking Tools and you’ll be
generating Site Audit data to monitor the performance of each of your marketing pages.
Depending on your particular campaign you’ll be using different key metrics, and you’ll
be adjusting KPIs based on the tools you use (for instance, if you use something
like CallRail you may be tracking data on phone calls, while some companies choose to
not track call metrics).
Your KPIs are fairly straightforward, but depending on what current marketing strategy
you are using, your reports will be tracking different metrics.
New tools come up every month and with this, comes challenges to integrate that tool
and it’s performance numbers with the rest of your marketing tools. With this in mind,
here are the 6 Steps to creating an effective marketing dashboard:
1. Determine your Audience:
To build an effective dashboard the most important step is to define your audience. Data
Dashboards and Data Visualization, in general, is designed to tell a story, so you need to
know who is listening to your story. A well-designed dashboard tells a compelling story
that links to actionable KPIs that benefit the viewer. Different audiences will require
different dashboards. An executive needs a dashboard that summarizes performance
metrics so they can make informed business decisions; a dashboard for a social media
marketer will need a social media dashboard to consolidate all metrics from sites like
Twitter, Facebook, Google+, LinkedIn, so they can get detailed data on key social
metrics. We’ve even created a social media infographic to aid social media marketers as
they craft and visualize their key metrics. Suffice it to say, depending on your particular
position within a marketing agency, you could be tracking entirely different KPIs.
2. Set Objectives of your Stakeholders:
Different Marketing dashboards can tell a different story and it is important to establish
the objectives of each of your dashboards. Determine short-term and long-term
objectives of your stakeholders and build different views of data at different levels of
granularity. As an example, an executive might want to look at a high-level dashboard
that provides an overall return on investment and budget. If you’re interested in
executive dashboards, we’ve written an executive dashboard guide to provide even
deeper insight into proper visualization. An analyst, on the other hand, will want a
detailed view of the data to take tactical decisions. An important thing to remember while
creating Marketing Performance Dashboards for your stakeholders is to tell a powerful
story that provides a path for immediate action. The goal isn’t to visualize data because
it looks cool. The goal is to understand your data better. Provide insights and
connections between various elements of your marketing strategy to demonstrate ROI
and opportunities for improvement.
3. Determine Marketing KPIs:
It is important to determine what metrics are important for your specific marketing
strategy (and its even more important as an agency to understand what strategy to use).
These KPIs can include marketing performance metrics of each program or campaign
such as likes, clicks, dwell time, traffic, click through rate, etc. A KPI can also include the
marketing impact metrics that tie performance to business goals like conversions,
increase in brand value or increase in sales. These KPIs once identified can be analyzed
across various dimensions like date and source of data so you can provide insights to
your team and to the heads of marketing. Determining your marketing KPI is important
as it allows for you to track and convey your own value and the value of your team’s
efforts in the areas that matter. You could be getting tons of clicks, but are clicks key
performance indicators? It all depends on your particular role within the company and
your particular objective in a marketing campaign. Don’t copy and paste the same KPIs
for every marketing effort. Tailor your analytics dashboard to the personalized KPIs of
each marketing campaign (campaigns can often have the same KPIs but not always).
4. Determine Data Sources and How to
Provide a Unified View:
New marketing platforms have made it easier for business owners and marketing teams
to manage everything from their website, email marketing, call tracking, to their social
media strategy. Each of these data sources will have their own set of metrics and data
and it is important to consolidate them to a single platform to easily measure the
performance of marketing programs. With all of this data, its tempting to include
everything in one dashboard. Pro Tip: Don’t be guilty of information overload. Determine
the metrics that matter and the data sources you want to use to gather the defined
metrics.
5. Visualize your Data:
Marketing Analytics tools can provide you with countless amounts of data and it’s
important that you convey the right message (because your visuals can easily convey a
message you haven’t intended to convey) with your marketing analytics dashboard.
Make sure its easy for everyone on your marketing team to create and consume data
that encourages data discovery and analysis. The real value in visualizing all of your
marketing data is that you’ve given your marketing team the tools that are necessary for
understanding all of this data while enabling yourself to find additional insights that may
not be found if the data was kept in its nascient CSV format.
6. Data Integration:
Today a marketing team uses hundreds of tools that contain a myriad of metrics. A very
important objective of any analytics dashboard is to consolidate and integrate data into a
consistent view using some sort of visualization tool. A consolidated marketing
dashboard should combine these multiple data sources into a single source that should
also be connected to outcomes and ROI. Make sure you use a tool that can integrate all
of your data. You miss out on the immense value of data visualization if you don’t have
reporting tools capable of weaving together the right story and you’re missing chapters in
your book if you leave out important data sources simply because you haven’t integrated
all of your data.
We hope this small guide helps you with your marketing dashboards. TapClicks has a
ton of resources on our blog. Check out more of our marketing dashboard guides if
you’re trying to get a more detailed description on best practices for certain kinds of
market
4) Data granularity-Defining granularity isn't easy as the term 'granularity'
has many different meanings, but in marketing and software it refers to the
accuracy of data categorization. For the best translation of the term in this
context, substitute 'granular' for 'precise'.
Granularity in data refers to the level of detail or precision of the data. For
example, data that has a high level of granularity would have a large
number of individual pieces of information, such as individual records or
measurements. Data that has a low level of granularity would have a small
number of individual pieces of information, such as summary data or
aggregated data. The granularity of data can affect how it is used and
analyzed, and can impact the accuracy and usefulness of the results.
Granular segmentation in marketing
When it comes to segmentation and targeting, granularity determines the
level of detail used to separate members of a target audience or customer
base. The more granular the segmentation, the narrower the criteria are for
each customer segment.
Highly granular segmentation splits an audience into groups a number of
different variables. This may include factors like location, purchase
frequency, loyalty point score, age, etc. Alternatively it can also split an
audience into many separate groups along one variable, e.g. income in
$500 incrementations.
The best results usually come from segmentation that is somewhere in the
middle of the granularity scale. This gives precise segments, but not too
precise to be ineffective when it comes to customizing your marketing
efforts. Next to granular segmentation, granular targeting simply aims
marketing efforts or promotions towards a specific audience segment. The
more granular the segmentation, the more criterias are used to separate
customers.
5)Slicing and Dicing-
A data slice is a logical representation of the data that is
saved in the partitions of a disk. The data slice contains
pieces of each user database and table. The IBM® Netezza®
system distributes the user data to all of the disks in the
system by using a hashing algorithm.
Slicing
A slice in a multidimensional array is a column of data corresponding to a single value for one or more members
of the dimension. Slicing is the act of divvying up
the cube to extract this information for a given
slice. It is important because it helps the user
visualize and gather information specific to a
dimension. When you think of slicing, think of it
as a specialized filter for a particular value in a
dimension. For instance, if a user wanted to
know the total number of Wireless Mice sold
over the whole dataset time space (2000-2003),
the user would perform a horizontal slice as
shown in Figure 4.
Figure 5 shows the slicing that filters the
information so that we have only the data for
ASIA for all products and for all the years.
Dicing
Dicing is similar to slicing but it works a little bit differently. When one thinks of slicing, filtering is done to focus on
a particular attribute, dicing on the other hand is more a zoom feature that selects a subset over all the
dimensions but for specific
values of the dimension.
This tool is very useful in
allowing the user to get more
detailed information on what
goes in on a smaller scale.
For instance, Figure 6 shows a
graphical representation of
dicing for a particular produce,
over a specific time span for a
particular region. The subset
shows the Cell phone market,
in North America only for the
year 2000.
It incorporates the drilling
technique previously
defined. As one can see in
Figure 6, cellphones are
subdivided and we use a
lower level in the hierarchy
and get information for the
various types of cellphones.
OLAP language
OLAP operations could be based on two OLAP languages: SQL and MDX.
SQL or Structured Query Language is a computer language developed to work in two
dimensions in order to manage relational database and manipulate data.
MDX or Multidimensional expressions is a language for analytical queries expression. Its
principle difference from SQL language is that MDX is able to reference multiple dimensions.
Microsoft primarily invented MDX as a SQL extension.
These two languages are different and have their own peculiarities. However, OLAP operations
using SQL and MDX languages are pretty similar.
Our product Ranet OLAP uses MDX query language, that is why today we made an accent on
MDX OLAP operations example.
OLAP operations:
So let’s outline the typical OLAP operations now.
Drill Up
This operation you can meet as a part of pair drill up and drill down in OLAP. Drill-up is an
operation to gather data from the cube either by ascending a concept hierarchy for a dimension
or by dimension reduction in order to receive measures at a less detailed granularity. So that to
see a broader perspective in compliance with the concept hierarchy a user has to group columns
and unite the values. As there are fewer specifics, one or more dimensions from the data cube
will be deleted, when this OLAP operation is run. In some sources drill up and roll up operations
in OLAP come as synonyms, so this variant is also possible.
Here’s a typical example of a Drill-up or roll up OLAP operations example:
Drill down
OLAP Drill-down is an operation opposite to Drill-up. It is carried out either by descending a
concept hierarchy for a dimension or by adding a new dimension. It lets a user deploy highly
detailed data from a less detailed cube. Consequently, when the operation is run, one or more
dimensions from the data cube must be appended to provide more information elements.
Have a look at an OLAP Drill-down example in use:
Slice
The next pair we are going to discuss is slice and dice operations in OLAP. The Slice OLAP
operations takes one specific dimension from a cube given and represents a new sub-cube,
which provides information from another point of [Link] can create a new sub-cube by choosing
one or more dimensions. The use of Slice implies the specified granularity level of the dimension.
OLAP Slice example will look the following way:
Dice
OLAP Dice emphasizes two or more dimensions from a cube given and suggests a new sub-
cube, as well as Slice operation does. In order to locate a single value for a cube, it includes
adding values for each dimension.
The diagram below shows how Dice operation works:
Pivot
This OLAP operation rotates the axes of a cube to provide an alternative view of the data cube.
Pivot clusters the data with other dimensions which helps analyze the performance of a company
or enterprise.
Here’s an example of Pivot in operation:
6) How dicing is good for better decision making?
One way to remember each of the steps involved in solving problems is to associate
the key word of each of the steps with one of the letters of the word DICE as shown
below: D—Define . . . I —Identity . . . C—Choose . . . E—Evaluate . . . he Decision
Dice invites us to think through an issue from six distinct angles: our Enemy, our Gut,
Death, Caution, Courage and our Parents. As we try out, juggle with and then
synthesise these perspectives, we will feel our sense of possibility expand, and a
tolerable way forward will gradually emerge from our present confusion. good life is
the result of good decisions, especially around love and work. However, we seldom
accord the business of decision-making the careful attention it requires. When faced
with a large decision, we lack rituals and procedures. We typically procrastinate, lean
on the nearest person or rush headlong into an unexamined solution. Fortunately,
decision making is a skill and one that can be learnt. The chief enemy of wise
decision-making is a lack of sufficient perspectives on a problem.
7)Steps to Create a slicer to filter data in a table or PivotTable
1. Click anywhere in the table or PivotTable.
2. On the Insert tab, select Slicer.
3. In the Insert Slicers dialog box, select the check boxes for the fields you want to
display, then select OK.
4. A slicer will be created for every field that you select
8)Difference between filtering and slicing of data- filtering is pretty simple, but you may want to
clean it up just a bit. For instance, you may want to remove unnecessary information that can
confuse. In this case, we are going to hide the Grand Total column for the filter.
1. Select your PivotTable and click the Design tab.
2. Click the Grand Totals dropdown and select Off for Rows and Columns.
When filtering, it is also helpful to sort your data. The top 10 does not automatically sort your
results, so you will need to do that. You can easily do this by selecting your PivotTable, right-
clicking your top 10 and selecting either Sort > Sort smallest to largest or Sort > Sort largest to
smallest.
There you have it. The top 10 in your PivotTable data. If you would like the Bottom values, follow
the same steps except choose Bottom 10 instead of Top 10. PivotTables combined with Top 10
functionality is a great combination to help you make informed decisions.
CCC Solutions offers virtual corporate and group training on Excel and other Office 365
applications. You can find upcoming classes on our website. If you do not see a class offered
that would be beneficial for your team, email us at jonr@[Link] and we will help get
one scheduled for your organization.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column]
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8)Application and limitations of monte carlo simulation-
9)impact of monte carlo simulation in the current scenario-
7)ADVANTAGES OF A MONTE
CARLO SIMULATION
Monte Carlo simulations help us overcome our own inability to
approximate the impacts of uncertain inputs. Historically,
modeling approaches would create a single deterministic output
based on a single assumed input value and provide no estimate
of how the results will change if the inputs are wrong. By
performing the simulation with many different inputs, Monte
Carlo simulations provide results for different realistic scenarios
and give us a clearer picture of the possible results given our
uncertain inputs.
Limitations of a Monte Carlo
Simulation
There are several possible limitations of Monte Carlo simulations
which may or may not apply to different situations.
Monte Carlo simulations provide the ability to estimate the impact of error in inputs but can’t
evaluate the impact of imperfections in the model itself. Incorrect model structure will still
yield incorrect results, but the Monte Carlo simulation will not provide any insight into those
impacts.
Generating a clear statistical picture of the possible results requires performing many
simulations. Depending on the complexity of the simulation, this process may require
either significant amounts of time or computing resources.
Monte Carlo simulations do not automatically overcome the inherent problem of
uncertainty. They can provide statistical evaluations of how the results may change as a
result of the uncertainty, but they cannot remove the uncertainity.
What is A/B testing?
A/B testing (also known as split testing) is the process of comparing two
versions of a web page, email, or other marketing asset and measuring
the difference in performance.
You perform this test by giving one version to one group and the other
version to another group. Testing out the 2 variations and recording the
data.
Benefits of A/B Testing are:
Reduce bounce rate
Get better ROI from existing traffic
Make minor, risk-free changes to your website or venue
Understand how visitors engage with your venue or website
Make profitable redesigns to your website or venue
A/B Testing can be applied to online and offline marketing
campaigns.
he best tools for offline A/B testing
Throughout this blog there have been references to replicating online
tests in the offline world which may leave you asking, how can I replicate
something online-based offline?
This can be achieved in a number of ways.
WiFi Analytics & Marketing
Purple’s Guest WiFi solution easily overlays onto existing hardware
infrastructure to provide quick setup and a new method for collecting
primary data collection.
Guest WiFi insights
Upgrading existing WiFi services with WiFi Analytics insights enables
business venues to understand who their visitors are. Enhancing the way
visitors get online with a completely branded captive portal encourages
customers to provide demographic information in exchange for access to
free WiFi services.
LogicFlow
marketing automation
Sending personalized marketing and offers can make all the difference
between a one-time purchase and creating a loyal customer. Knowing
when to deliver marketing and offers can be a challenge but through data
segmentation, businesses can create hyperfocused messages that deliver
when visitors are in-store to encourage higher basket sizes and loyalty
sign-ups.
Test messages, times of the day, seasonality, and more to determine
when groups of customers are the most receptive.
Tracking customer movement
Purple’s Sensors software connects with existing WiFi access points and
sensors to identify footfall and understand how visitors move around your
venue.
Visitor dwell insights
This information is then fed directly into the analytics platform where
users can filter and segment the data to identify patterns and trends.
As the collection of data increases stores can optimize window
displays, validate product placement, and A/B test new store concepts
with clear visual outcomes.
Visitor behavior
dashboard
There’s more to find out! Take a look at our Operational Efficiency use
cases.
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What does "Causal Inference" mean?
Definition of Causal Inference in the context of A/B testing (online controlled
experiments).
What is Causal Inference?
Causal inference is a process by which a causal connection is established based on
evidence. In A/B testing this happens through hypothesis testing, usually in the form
of a Null Hypothesis Statistical Test. Putting forward a statistical model and
interpreting the observed data as a realization of the 'idealized' stochastic
mechanism constitutes the cornerstone of modern statistical inference [1]. While there
are other methods of inferring causal links based on data like Bayesian
inference from experimental data as well as quasi-experimental methods based on
observational data, frequentist inference remains the gold standard due its entirely
factual account of the data (more precisely due to the minimal assumptions
involved).
In frequentist inference one relies on the probabilistic version of modus tollens logic:
a valid deductive logical device of the form: from hypothesis H follows evidence e,
observe not-e, from this follows that H is false. Alternatively, when communicating
results one can frame it as a strong argument from coincidence: had the true state of
nature been H, then it is an incredible coincidence that we did not observe e. Of
course "incredible" is a relative term that must be defined numerically i.e. via
a significance threshold.
Causal inference of the frequentist kind shifts the burden of proof on the person
arguing for the null hypothesis to the extent to which the data contradicts it, thus data
takes central position in the decision-making process.
The frequentist account conforms very well with the general idea of Popper's
falsificationism. Prior philosophies of inference include confirmation theory which
stemmed from logical positivism and prior epistemological accounts: in essence on
justifies the validity of a theory based on the amount of evidence in favor of that
theory. Contrast that to faslificationism in which no amount of evidence can ever
confirm a theory while a single valid observation in opposition can refute it, therefore
passing a test with a higher capacity to produce an observation opposing a
hypothesis presents a more rigorous test of that hypothesis if it fails to do so. A test
with low such capacity is barely a test at al
A/Btesting in Email marketing-
efined: A/B Testing for Email Marketing
A/B testing, also known as split testing, is incredibly simple in that all it
involves is sending two different variants (an A variant and a B variant) to your
email list and seeing which variant performs better.
The difference between variants could be something small like a differently
worded subject line that most subscribers aren’t going to notice. Or it could be
something more substantial like an entirely different email design and layout.
Good A/B testing will, however, only test one element at a time. That way you
can be more confident that any difference in how the two variants performed is
down to that one element. As opposed to trying to determine which of the
elements resulted in the change (and relying on gut feelings again).
In terms of measuring performance, there are several potential email metrics
you should be looking at:
Open rates (the number of people who open and read your email)
Click rates (the number of people who click on a link within your email)
Conversion rates (the number of people opening your email who go on
to make a purchase)
Benefits of A/B Email Testing
By running regular A/B tests, you’ll gradually start improving your key email
marketing metrics. Which are:
1. Improved open rates.
By testing the factors that influence your open rate (e.g., your subject lines
and preview text, etc.) you’ll get a better idea of what resonates with your
subscribers and what doesn’t. This will allow you to optimize your future
campaigns for more opens.
2. Improved click rates.
Just like with your open rates, by testing elements within your email you’ll
slowly but surely get a better understanding of what type of content and links
your subscribers tend to click on. You can then create your future emails
around what you know works to improve your click rate.
3. Improved conversion rates and sales.
By improving your open and click rates, you’ll be driving more potential
customers to your site. This will ultimately result in more sales, and (especially
if you also A/B test elements on your store) will also result in an improved
conversion rate.
Before-after with control group" design
This design involves establishing two samples or groups of respondents: an
experimental group that would be exposed to the marketing variable and a control
group which would not be subjected to the marketing variable under study. The two
groups would be matched.
5.
