6 Digital Marketing Analytics Flashcards
What is the difference between data and information?
Data = Most basic form of knowledge
E.g. brand of butter sold to a customer in a certain town
Information = Combination of data that provides relevant knowledge
E.g. brand preferences of customers in a certain age range in a geographic region
Look at the marketing performance measurement framework in your gallery
Describe the difference between data-driven and precision marketing
Data-driven: tailoring of products anf services to better meet the needs of the end costumer
Precision: form of data-driven, based on computer algorithmus, can identify patterns in data with implications for consumer purchasing behaviour
Difference quantitative and qualitative research
Quantitative: Gather numerical data, structured questionaire, large and representative samples, statistical analysis of the data, big samples
Qualitative: Understanding consumers, gaining in-depth insight, verbal data, small samples
Look at the market research process in your gallery
Look at forms of exploratory research in your gallery
Look at types of quantitative data collection in your gallery
Describe the sampling process
Define the populatio
Search for sampling frame
Specify sampling method and determine sample size
select the sample
What is the difference between closed-ended questions and open-ended questions?
Closed: already include all possible answers, answers are easy to interpret
Open: Allow to respond in their own words
What are the three necessary conditions to get a true response to a question?
- Respondents must understand the question
- Respondents must be able to provide the information
- Respondents must be willing to answer.
Look at stages of development of a questionnaire in your gallery
What are ethical issues in data analytics?
Data privacy
Data driven marketing
Consumers awareness
