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LSU Flores MBA Program Marke&ng Analy&cs Specializa&on
What is Marketing Analytics ? Marke&ng analy&cs is the applica&on of sta&s&cs and opera&ons research to help businesses maximize marke&ng effec&veness and return on investment. The objec&ve is to quan&fy what drives sales of a
business and use the results to increase market share, revenue and profit.
This concentra&on brings together leading-‐edge analy&cs tools with real-‐world marke&ng experience to develop business solu&ons for improved brand performance across a range of industries, including
healthcare, insurance, financial services, food services and packaged goods. Marke&ng analy&cs techniques are used for predic&ng future trends, forecas&ng who will respond to an adver&sement,
foreseeing poten&al credit risks, etc.
MARKETING TODAY Marke&ng today is undergoing a fundamental shiD – moving from a product-‐focused orienta&on (the
brand manager) to a customer-‐centric approach (the customer experience manager).
Driving this change are two complementary forces:
1. The emergence of “big data” and the wealth of individual customer insights taken from this data.
2. The development of a data-‐driven culture of decision making based on technological and analy&c tools, which was not available even just a few years ago.
THE USE OF Analytics IN MARKETING
Analy&cs are now applied to every aspect of marke&ng, ranging from the more tradi&onal marke&ng-‐mix ques&ons (media alloca6on, product design, pricing op6miza6on, supply chain management) to the emerging, customer-‐focused issues reflec&ng marke&ng’s embrace of the
rela&onship paradigm (customer reten6on, customer rela6onship management, customer life6me value).
This analy&cal orienta&on requires informa&on and the rise of “big data,” in terms of both its volume and scope. Analy&cal informa&on offers new marke&ng fron&ers that gain insights that
can drama&cally improve customer experience.
Why Study Marketing Analytics?
Employers • Consumer Product Goods • Consumer Services • Online/e-‐commerce • Retailers
INTEREST AREAS • Business Analy&cs • Marke&ng Analy&cs
Professional societies • INFORMS Society for Marke&ng Science • American Marke&ng Associa&on
The success of strategic marke&ng in today’s rapidly evolving, data-‐driven business environment requires a founda&on in analy&cal tools and extensive data sources. As firms con&nue to lower costs, they will make beXer use of informa&on, and thus there is a growing need for analy&cs
specialists in marke&ng.
Course Information To graduate with an LSU Flores MBA with a specializa&on in marke&ng analy&cs, students must complete the following courses:
• MKT 7716 Advanced Marke&ng Research Techniques: • Most common techniques encountered in marke&ng analy&cs, including data
examina&on (e.g., missing data analysis) and the most widely applied modeling techniques in use today: segmenta&on (cluster analysis), variable composites (principal component analysis), and quan&ta&ve models for issues like predic&on (mul6ple regression) and customer churn (logis6c regression).
• MKT 7110 Marke&ng Tools Founda&ons and Applica&ons: • As a capstone course for the marke&ng analy&cs specializa&on, this course focuses on
the communica&on and implementa&on of marke&ng analy&cs in the context of marke&ng decision making using a case-‐based marke&ng engineering approach.
Course Information [continued]
• MKT 7130 Marke&ng Research and Brand Analysis: • Applica&on of analy&cal methods requires a fundamental understanding of marke&ng
decisions in terms of both metric and models. This course examines the most widely used metrics and models in a wide range of marke&ng applica&ons.
Supplemental courses include:
• ISDS 4141 -‐ Introduc&on to Data Mining • ISDS 7510 -‐ Database Management
Contact Us
The LSU Flores MBA Program 2000 Business Educa&on Complex
Baton Rouge, LA 70803 225-‐578-‐8867 [email protected]
WEBSITE FACEBOOK LINKEDIN TWITTER
Department of Marke&ng Ronald W. Niedrich, PhD
Professor & Department Chair 2100 Business Educa&on Complex 225-‐578-‐8684