Marketing Analytics Review

These flashcards cover key concepts related to Marketing Analytics, including research methods, statistical tools, and data types.

Marketing Analytics

The process of collecting, analyzing, and acting upon marketing data to improve decisions.

Exploratory Research

An initial research method to gain insights and understanding about a problem, typically involving small samples and qualitative analysis.

Descriptive Research

Research that collects information on a phenomenon of interest based on a large and representative sample to test relationships between factors.

Causal Research

Research that aims to determine whether a change in one variable causes a significant change in another variable.

Cross-sectional Data

Data collected at one point in time, allowing for analysis of a phenomenon without considering its evolution over time.

Panel Data

Data collected from the same subjects over time, providing insights into changes and trends.

Factor Analysis

A statistical method used to reduce a large number of related variables into a smaller number of independent factors.

Cluster Analysis

A method of grouping objects into clusters that are as homogeneous as possible based on selected measurements.

Regression Analysis

A statistical tool used to estimate the relationships between dependent and independent variables.

Logistic Regression

A statistical method used to model binary outcomes based on one or more predictor variables.

Secondary Data

Data that has been collected for a purpose other than the current study.

Primary Data

Data that is newly collected specifically for the current research project.

Customer Relationship Management (CRM)

A system for managing a company's interactions with current and potential customers.

Conjoint Analysis

A statistical technique used to determine how customers value different features of a product or service.

Sampling Frame

A list of items or people from which a sample is drawn.

Qualitative Analysis

Analysis focused on understanding underlying reasons and motivations, often involving textual or visual data.