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AI in marketing

AI in marketing - Microsoft Excel Tutorial

From the course: AI in Business Essential Training

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AI in marketing

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- [Instructor] AI isn't just limited to finance, it can be used by almost any business out there. And often times, what actually qualifies as AI, is simpler than you might think. I'm in the zero three, zero five Excel sheet. Now what I've done here is simply construct a hypothetical set of sales data for two hypothetical products, product A and product B, based on the U.S. federal funds rate, the real GDP rate, and changes in GDP over a long period of time. What we might ask ourselves is based on this, which product should we invest in from a marketing perspective? Now, notice again, all of these data are artificially constructed, at least as it relates to unit sales. But, the reality is that when we're trying to estimate sales over time, or what the drivers of sales are, we're usually trying to think about what's driving the demand curve behind those sales, right? So, it's going to be related to external factors like in this case, the rate of GDP plus some sort of base level of…

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