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1Marketing Analytics Introduction

The MSc Data Analytics course on Marketing and Customer Analytics, taught by Mr. W. Kanyongo, focuses on using data analytics to derive insights and inform marketing strategies. Students will learn various analytical methods, including descriptive, diagnostic, predictive, and prescriptive analytics, to enhance marketing effectiveness and ROI. Assessment includes coursework (40%) and examination (60%), with a strong emphasis on practical application using statistical software like SPSS and Power BI.

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11 views

1Marketing Analytics Introduction

The MSc Data Analytics course on Marketing and Customer Analytics, taught by Mr. W. Kanyongo, focuses on using data analytics to derive insights and inform marketing strategies. Students will learn various analytical methods, including descriptive, diagnostic, predictive, and prescriptive analytics, to enhance marketing effectiveness and ROI. Assessment includes coursework (40%) and examination (60%), with a strong emphasis on practical application using statistical software like SPSS and Power BI.

Uploaded by

salome
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Programme: Programme MSc Data Analytics

Course Title: Marketing and Customer


Analytics

Course Code: MSCDA 614


Lecturer: Mr W. Kanyongo
Cell: +263 772888909
E-Mail: [email protected]
Learning Methods/Techniques

 Lectures
 Tutorials\Quizes
 Online Materials
 Group discussions
 Class Presentations
 Assignments
Assessment Structure
Assessment is by coursework and examination.

Coursework (40%)
 One individual assignment
 One group assignment/presentation
 In-class test/in-class assessment

 Examination (60%)
By the end of the module the student should be able to demonstrate
how to gain insight from the analysis of data and to recommend an
appropriate course of action based on empirical evidence and apply a
statistical software package appropriate to handling customer data, for
example SPSS, Power BI, Google Analytics. Other: R, SAS, and
Python.
INTRODUCTION TO MARKETING ANALYTICS
DEFINITION of Key Terms

Marketing is a process where companies create value for customers and build
strong relationships with customers to get value from customers in return
(Kotler and Armstrong, 2015, p.30)

The science and art of exploring, creating, and delivering value to satisfy the needs
of a target market at a profit. (Kotler, 2011).

Kotler explains that marketing is “meeting the needs of your customer at a profit.”

Marketing is about identifying and meeting human and social needs (Kotler and
Keller, 2016)
Marketing is the activity, set of institutions, and processes for
creating, communicating, delivering, and exchanging offerings that
have value for customers, clients, partners, and society at large
(American Marketing Association).
 Marketing identifies unfulfilled needs and desires.

 It defines, measures and quantifies the size of the identified
market and the profit potential.

 It pinpoints which segments the company is capable of


serving best and it designs and promotes the appropriate
products and services.
 The definition extends beyond just communicating product
features. Marketers are responsible for a 360-degree
experience.

 Every customer touchpoint from customer service to sales to


accounting and more are part of the “new marketing.
Data analytics (DA) is the science of collecting, inspecting,
cleansing, transforming, and modeling data in order to discover
useful insights, inform conclusions and support decision making.

Data analytics is a discipline focused on extracting insights


from data
Marketing Analytics is the practice of measuring and analysing
data and metrics to understand the impact of marketing activities,
maximize ROI and identify the areas of improvement.

Marketing analytics comprises the processes and technologies


that enable marketers to evaluate the success of their marketing
initiatives
Customer analytics, also called customer data analytics, is
the systematic examination of a company's customer information
and customer behaviour to identify, attract and retain the most
profitable customers.

Customer analytics is the process companies use to capture


and analyze customer data to make better decisions
 In the pre-digital era, marketing had gained ill-fame for being a
heavy cost centre. Marketers would spend a lot of money on
promotional activities, which were virtually non-trackable.

 Then came the era of Digital Marketing; with the introduction of


analytical tools, marketers could track each activity on their
website.

 These Marketing Analytics tools enable marketers to invest their


budgets wisely and allocate their efforts and personnel to the
channels that yield the maximum Return on Investment (ROI).
 An effective marketing analytics practice tracks and
collects data across multiple marketing channels and
consolidates it into a single/common marketing view.

Over the years, as businesses expanded into new marketing categories,


new technologies were adopted to support them. Because each new
technology was typically deployed in isolation, the result was a
hodgepodge/hotchpotch of disconnected data environments.

Consequently, marketers often make decisions based on data from


individual channels (digital marketing and website metrics, for example),
not taking into account the entire marketing picture.

Social media data alone is not enough. Web analytics data alone is not
enough.
And tools that look at just a snapshot in time for a single channel are
woefully inadequate. Marketing analytics, by contrast, considers all
marketing efforts across all channels over a span of time – which is
essential for sound decision making and effective, efficient program
execution.
Ways Marketing Analytics Helps Your Business

1.Understand your target audience in greater detail

2.Identify where your competitors are investing their


efforts

3.Measure how well your marketing campaigns are


performing

4.Monitor current trends and predict future trends

5.Use data to decide the future course of action


With Marketing analytics, you can answer questions like these:

 How are our marketing initiatives performing today? How about


in the long run? What can we do to improve them?

 How do our marketing activities compare with our


competitors’? Where are they spending their time and money?
Are they using channels that we aren’t using?

 What should we do next? Are our marketing resources properly


allocated? Are we devoting time and money to the right
channels? How should we prioritize our investments for next
year?
The Right Kind of Analytics

Difficult
y
Types of Analytics: Overview

 Descriptive: Uses business intelligence and data mining to


ask: “What has happened?”

*Describe the data


• Common statistics:
− Counts
− Averages
• Typical reporting
methods:
− Tables
− Pie charts 24
(Gartner, 2012)
− Column/bar charts
− Written narratives
 Diagnostic: Examines data to answer “Why did it
happen?”
 (Gartner IT Glossary, 2015)

*Attempts to answer “why did it


happen?”
• Drill-down techniques
• Data discovery
• Correlations

(Gartner, 2012)
 Predictive: Uses statistical models and forecasts to ask:
“What could happen?”

*Predicts instead of describing or


classifying
• Rapid analysis
• Relevant insights
• Ease of use

(Gartner, 2012)
What Predictive Analytics Cannot Do
“The purpose of predictive analytics is NOT to tell you
what will happen in the future. It cannot do that. In fact, no analytics
can do that.

Predictive analytics can only forecast what might happen in the


future, because all predictive analytics are probabilistic in nature.”
(Bertolucci, 2013)

29
 Prescriptive: Uses optimization and simulation to ask:
“What should we do?” (IBM Software, 2013)

(Gartner, 2012)
To get the most benefit from marketing analytics, you need an analytic
assortment that is balanced – that is, one that combines techniques
for:

Reporting on the past.


 By using marketing analytics to report on the past, you can answer
such questions as:
 Which campaign elements generated the most revenue last
quarter?
 How did email campaign A perform against direct mail
campaign B?
 How many leads did we generate from blog post C versus
Analyzing the present

 Marketing analytics enables you to determine how your

marketing initiatives are performing right now by answering

questions like:

 How are our customers engaging with us?

 Which channels do our most profitable customers prefer?

 Who is talking about our brand on social media sites, and

what are they saying?


Predicting and/or influencing the future.
 Marketing analytics can also deliver data-driven predictions
that you can use to influence the future by answering such
questions as:
 How can we turn short-term wins into loyalty and ongoing
engagement?
 How will adding 10 more sales people in under-performing
regions affect revenue? Which cities should we target next
using our current portfolio?

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