Applied Marketing Analytics Using R

Marketing has become increasingly data-driven due to AI, granular data availability, and analytics tools. This book helps students and practitioners explore marketing phenomena using applied analytics tools, with a balanced mix of technical coverage and marketing theory. Supporting online resources are available for instructors.

Format: Paperback / softback
Length: 392 pages
Publication date: 22 August 2023
Publisher: SAGE Publications Ltd

Marketing has undergone a remarkable transformation in recent years, driven by the emergence of cutting-edge technologies like artificial intelligence (AI), granular data availability, and advanced analytics tools. This trend is expected to continue, making it crucial for marketers to embrace data-driven approaches and develop a solid foundation in marketing analytics.

In today's fast-paced and competitive business landscape, data-driven marketing has become an indispensable tool for gaining insights, supporting strategic decision-making, solving complex marketing problems, maximizing value, and achieving success. By leveraging data and quantitative methodologies, marketers can gain a deeper understanding of consumer behavior, market trends, and competitive landscapes, allowing them to tailor their strategies and campaigns to meet the specific needs of their target audience.

One of the key advantages of data-driven marketing is its ability to provide actionable insights at every stage of the marketing funnel. From identifying potential customers to nurturing leads, to driving conversions and customer retention, marketers can use data to optimize their marketing efforts and achieve better ROI. For example, by analyzing customer data, marketers can identify the most effective marketing channels, develop personalized messaging, and create targeted advertising campaigns that resonate with their audience.

Moreover, data-driven marketing enables marketers to measure the impact of their campaigns and make data-driven decisions. By tracking key metrics such as website traffic, conversion rates, and customer acquisition costs, marketers can evaluate the success of their campaigns and make adjustments as needed. This iterative process allows marketers to continuously improve their marketing strategies and stay ahead of the competition.

However, the success of data-driven marketing relies on marketers' ability to use data and quantitative approaches effectively. This requires a deep understanding of marketing analytics, including data visualization, statistical analysis, and predictive modeling. Marketers must also be comfortable with using data-driven tools and technologies, such as customer relationship management (CRM) systems, marketing automation platforms, and data analytics software.

To support the learning and development of marketers in this area, there are numerous resources available. This book, for instance, takes a hands-on approach to teaching marketing analytics, using real-world datasets, case studies, and R (a free statistical package). The book covers a range of marketing phenomena, including customer segmentation, marketing mix modeling, and customer lifetime value analysis, and provides a balanced mix of technical coverage alongside marketing theory and frameworks.

Chapters in the book include learning objectives. Objectives, figures, tables, and questions to facilitate learning. Additionally, online resources are available to instructors, including datasets, software codes, solutions (R Markdowns, HTML files), PowerPoint slides, a teaching guide, and a test bank. These resources can help instructors support teaching and enhance the learning experience for students.

This book is particularly valuable for advanced-level marketing students and marketing practitioners who want to stay ahead of the curve and become cutting-edge marketers. It provides a comprehensive and up-to-date introduction to marketing analytics, equipping readers with the skills and knowledge needed to gain a competitive advantage in the industry.

The authors of this book are highly respected experts in the field of marketing analytics. Dr. Gokhan Yildirim is an Associate Professor of Marketing at Imperial College Business School, London, and has extensive experience in teaching and research in marketing analytics. Dr. Raoul V. Kübler is an Associate Professor of Marketing at ESSEC Business School, Paris, and has published numerous articles and books on marketing analytics and data-driven marketing.

In conclusion, marketing has become increasingly data-driven in recent years, and this trend is set to continue. By embracing data-driven approaches and developing a solid foundation in marketing analytics, marketers can gain a competitive advantage, optimize their marketing efforts, and achieve success in today's fast-paced and competitive business landscape. This book provides a comprehensive and practical guide to marketing analytics, equipping readers with the skills and knowledge needed to become cutting-edge marketers.

Weight: 772g
Dimension: 186 x 233 x 22 (mm)
ISBN-13: 9781529768725