Marketing Analytics T1 - Data reduction principals

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4 Terms

1
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Data reduction

converts data into information which:

  • helps to obtain and verify meaningful elements

  • identify patterns, rules and theories

  • present information in a concise, interpretable and professional manner.

2
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Double jeopardy rule

bigger brands have more buyers who also purchase more often

3
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principals of data reduction

  1. include relevant row and column headings

  2. display elements of comparison in columns not rows

  3. use gridlines and gaps for easy reading

  4. include averages and totals

  5. sort by largest to smallest

  6. rounding 1-3 significant figures

  7. display relevant units and scales

  8. left align and centre text

  9. written summary

4
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market share % formula

market share % = company’s sales / total sales in the market