Data Analytics in Marketing

Data analytics applications in marketing cover different areas in the marketing process, from customer segmentation, increasing product awareness, interest and desire, all the way up to monitoring conversion to purchase. This chapter demonstrates marketing applications using data in our hypothetical Best Toy Company. Starting with different metrics which are popularly used in marketing analytics, a demonstration of how to do a dashboard of sales with a moving average line in Excel is also shown. A series of real-world case studies and marketing business scenarios in Best Toy Company, with hands-on statistical test demonstrations by SPSS and Excel , then follow. A real-world case study from Nike has shown how they have made their decision on customer segmentation. The text then demonstrates using the hypothetical data with k-means clustering and elbow analysis to identify customer segments. Another real-world case study from Microsoft shows how they have found support for their choice of design in the Bing search engine. This scenario is replicated using our hypothetical data with independent-samples t test serving as an A/B test. Cross-selling and up-selling techniques are also discussed. A demonstration of how we can predict which customers are more likely to buy using logistic regression follows. This chapter ends with a case study of how Tata AIA has used technologies to improve customer experience and a brief discussion on the trend of using generative AI as a coworker with marketers.