Data & Marketing Analytics

Overview

Marketing has become an increasingly analytical, scientific and technology-oriented profession and terms such as ‘big data’, ‘data analytics’ and ‘marketing analytics’ have risen to the fore.

This new, ‘hands-on’ workshop has been developed to provide a practical, structured and comprehensive insight into how to use analytics to improve marketing effectiveness and maximise your ROMI (Return on Marketing Investment). This workshop is focused on the practical application of KPIs, metrics and analytics tools and techniques to understand both historical and current performance, as well as how to predict future outcomes.

During the course we will look at a combination of ‘descriptive’, ‘predictive’ and ‘prescriptive analytics’ that will enable you (and your organisation) to:

• Better understand your customers and markets
• Inform your approach to segmentation and targeting
• Position your data-driven value proposition
• Understand how your Marcomms tools, techniques, channels and media perform
• Generate actionable insight to optimise future marketing budget allocation and marketing performance

Each delegate will be given an Excel® workbook containing various spreadsheets, templates, and formulae that they can take away and utilise – helping them put their newly developed skills into practice.

Who should attend?

This workshop will be of interest to people who appreciate the importance of data-driven marketing decision-making and are looking for practical tools and techniques they can use to optimise, prove and/or improve their marketing performance. Suitable for people new to marketing analytics, or those wishing to take a more structured approach to the use of practical analytics. An understanding of basic statistics would be useful but it’s not imperative.

Learning outcomes

Preparation

• Working definitions and understanding of terms such as ‘Data’, ‘Information’, ‘Analytics’, ‘Insights’ and best practice within each e.g. quality data
• Understand the key differences between ‘Descriptive’, ‘Predictive’, ‘Prescriptive’ analytics and their usage
• Understanding different data types (categorical, numerical…) and the most appropriate data analysis tools for each (type)
• How to design and implement a structured approach to data and marketing analytics

Execution

• Using data to design new products & services (using ‘Conjoint Analysis’)
• How to assess customer value (for propositions) and value customers (e.g. CLTV)
• Data-driven market appraisal/assessment (demand/sizing, competition, market share…)
• Using data to develop your segmentation, targeting and competitive positioning
• Understanding the difference between ‘correlation’ and ‘causation’ (‘Cause & Effect’) and the associated analyses (‘Correlation’ and ‘Regression’)
• How to build a ‘Market Response Model’ (MRM)/‘Marketing Mix Model’ (MMM) using Regression/‘Econometrics’ (including MarComms and Predictive modelling)
• Understanding ‘Attribution Modelling’ and how this links with MRM/MMM
• How to understand the statistical output from your data and marketing analytics
•  Data Visualisation - how best to present your information, insights, etc. (charts, graphs, infographics…)
• Building a pathway to the future - BD, AI, ML & DL… (‘Big Data’, ‘Artificial Intelligence’, ‘Machine Learning’ and ‘Deep Learning’ applications in marketing
• Developing your own ‘100-day Analytics Action Plan’