Introductory Marketing Analytics

This one day course provides an introduction to statistics and marketing analytics.   We use a sales dataset in Excel to explore marketing analytics and statistics concepts.

Prerequisites: No pior stats skills needed. Basic math and Excel skills.
Equipment: Laptop with Excel

Course Outline

Topics
Overview of Marketing Analytics

Creating actionable information.
Customer scoring, segmentation, and lifetime value.

Dataset Essentials

The theory of experiments, observations and learning.
Populations, samples, and random variables.

Modeling Customer Lifetime Value

Making predictions and understanding uncertainty.
Distributions, probabilities, expected values, and variance

Evaluating a Revenue Forecast

Calibrating a model, predicting, and overfitting.
Loss functions, cross-validation, and bias-variance trade-off

Creating Customer Segments

Improving business efficiency via conditioning.
Laws of expectation, variance and conditional expectation.

Customer Segments to Customer Lifetime Value

Improved CLV estimates and analyzing business dynamics.
Markov chains, and transition matrices