DECA - Marketing-Information Management & Data Analytics

Primary Data

Data collected for a purpose

e.g. focus groups, interviews, surverys

Secondary Data

Using pre-existing data collected by third parties

e.g. articles, government, news

Qualitative Data

Open-ended, honest, exploratory data that focuses on opinions and underlying reasons

Quantitative Data

Numerical data that is track and analysed statistically

Data Mining

Identifying patterns and relationships from larger groups to predict customer trends

Database Marketing

Using CRM to personalize interactions

Key metrics

CTR, conversion rates, bounce rates, and traffic sources

Privacy Laws

Compliance with regulations regarding personal data collection and storage

Research Ethics

Ensuring unbiased question design, maintaining repondant anonymity and avoiding deceptive data collection practices

Bounce Rate

The percentage of website visitors who leave the site after viewing only one page

Click through rate (CTR)

The ratio of users who click on a specific link or advertisement relative to the total number of users who viewed it

Conversion rate

the percentage of potential customers who complete a desired action

e.g. making a purchase, filling out a form

Data Mining

The practice of searching through large databases to discover hidden patterns, trends, and actionable relationships in customer behaviour

Database marketing

Using customer databases to analyze factors like purchasing history and deliver personalized marketing campaigns

Marketing-Information management (MIM)

The continuous process of gathering, organizing, analyzing, and distributing data needed to make informed marketing decisions

Primary Data

Original information collected directly by or for the business for a specific research pupose

Qualitative Research

Exploratory research focused on understanding underlying motives, feelings, opinions, and reasons

Quantitative Research

Research involving measurable, numerical data that can be analyzed statistically

Secondary Data

Pre-existing information collected by outside parties or previously gathered for a different purpose