Week 1 Flashcards
Four types of data analytics
Descriptive
Diagonistic
Perspective
Predictive
What are important metrics & KPIs in a marketing context?
consumption
retention
sharing
engagement
pipeline impact
effectiveness
REMEMBER CREPES
Marketing Analytics Value Chain
data
reporting
analysis
decision
action
value
What are we looking for when analyzing marketing data?
Trends
Relationship
Pattern
Anomalies
Association and groups
Remember APART
Features of Big Data
7V
velocity
value
volume
variety
veracity
variability
visualisation
What are the challenges of Big Data?
Process Challenges
Management Challenges
which is the least likely to be an example of unstructured data?
tweets
chat
email
spreadsheet
spreadsheet
Which is least likely to be an objective for analytics?
Segmentation
Demand estimation
Qualitative reasoning
Market effectiveness
Qualitative reasoning
Which is most false about unstructured data?
Fits a relational data model
Created by machines
Generated by humans
May have an internal structure
Fits a relational data model
Which is most valuable and most difficult?
Prescriptive analytics
Predictive analytics
Descriptive analytics
Diagnostic analytics
Prescriptive analytics
Marketing analytics is
The use of statistics to gain marketing insights
The use of data to gain insights from data to maximize marketing outcomes
The use of marketing inputs to maximize marketing outcomes
The study of the nature of marketing topic by examining its details
The use of data to gain insights from data to maximize marketing outcomes
Big data are useless to a company unless
-the company finds something meaningful in the data quickly
-the data are raw and unclean
-the company has a place to analyze and easily access the information
-the data supports assumptions the company has made before analyzing them
The company has a place to analyze and easily access the information
