The course aims to introduce students to the foundations of modern marketing analytics by developing the ability to select, apply and interpret readily available data on customer purchase behavior, new customer acquisition, current customer retention, and marketing mix optimization. The course focuses on providing knowledge of approaches and techniques to support the managerial decision-making process and skills in using state of the art statistical and analytics tools. Students will have an opportunity to gain basic understanding of how transactional and descriptive data are used to construct customer segmentation schemas, build and calibrate predictive models, and quantify the incremental impact of specific marketing actions. This course is for individuals who have little to no marketing background who want to learn more about marketing analytics - and for marketing professionals who want to increase their analytical skill set. The main objectives are to:
- Understand marketing analytics and the concepts and techniques within the science
- Increase current capability for doing marketing analytics to address business challenges in order to help guide organizational decision-making
- Learn the current state-of-the-art and ideas about marketing analytics through current books, articles, and cases
- Apply marketing-analytics models and methods to real data
- Treat hands-on industry data on various management activities based on theories
