The course focuses on using a multitude of practical analytical techniques to help identify, understand, and prescribe to, business problems and opportunities. Generating and using customer and market insights is a core competency for every business. The effectiveness of decisions depends on the quality of data available (both qualitative and quantitative), analysis of the data and subsequently drawing strategic inferences based on rigorous methodologies. This course will focus on how decisions are supported by analytical techniques, information assimilation and model driven implementation.
The course focuses on unpacking customer and market insight concepts, ideas, processes and methods. Subsequently, we will introduce learners to statistical tools and marketing models, processes and solutions to unearth analytical insights to solve business problems and identify business opportunities.
We will deal with applications of decision modelling tools to address such marketing issues as – customer choice and behavioural predictions, segmentation, targeting and positioning, product development and performance over time, pricing, budgeting as well as network and sentiment analysis. The eventual goal is not only to learn the techniques, but also how information obtained can be applied in marketing decision analytics in the context of practical business situations. The scope will range from qualitative to quantitative analyses that are frequently used simultaneously to support the challenges encountered in real life.
Through lectures and lab tutorials, learners will acquire the concepts, methods and skills to generate and use insights to support marketing decision making. The course is designed for those who want to pursue a career in conventional marketing strategies, specially focused in the marketing analytics for decision making. You will learn the theories, concepts and terminology used by marketing experts and master methodological tools to obtain a competitive advantage in the business world.
Unlike conventional marketing courses that focus on conceptual material, this course will attempt to provide skills to translate conceptual understanding into specific operational plans – a skill in increasing demand in organizations today. Once you have knowledge of the marketing analytics models and statistical tools, we will use simulated market scenarios and related quantitative modelling methods tied to a computer software to develop marketing strategies in various decision contexts. The software tools will enable you to apply the methods and analytical models taught in the course to real world marketing challenges.