Course Summary
The aim of this course is to expose students to the application and presentation of analytical and statistical methods to solve marketing problems. Businesses today make marketing decisions that are driven by insights gained from the analysis of data. Especially, marketers nowadays have access to unparalleled data on opinions and behaviour from the digital marketing environment. These data used by marketers for decision-making come from various sources.
At a broad level, these data can be classified into two main types: structured data that come in numerical format, and unstructured data such as text, audio, and video. Furthermore, because of the scale, these data are called 'Big Data' with principle characteristics of high volume, high velocity, and high variety. Therefore, data-driven marketing decisions require a different kind of understanding, a new set of skills, and a unique mindset to deal with ever-increasing influx of information.
This course will offer theoretical understanding of data to explain and explore the changes taking place in marketing. Also, the course will expose students to necessary tools and techniques to collect, summarize, visualize, and analyse different types of marketing data. Finally, the course will provide hands-on exercises to translate concepts into context-specific operational decisions and actions using analytical, quantitative, and computer modelling techniques.
You will also work towards developing the following?AMI professional competencies: