From the course: Excel: Market Research Strategies
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Applying Excel to market research - Microsoft Excel Tutorial
From the course: Excel: Market Research Strategies
Applying Excel to market research
- [Instructor] Marketing research requires clean and well-organized data. Remember, as a marketing professional, you need to start with a big data set, something like transaction-level data and then group it based on the variables you care about, things like product type. Once you've done this, you're prepared to use tools like means, t-tests, regressions and others that we've talked about to better understand what's going on and make recommendations to the business leaders in your firm. All of these tools can form the basis for effective forecasting for the variables that you care about. Now, speaking of forecasting, remember to carefully consider price elasticity as you're optimizing price. This can help maximize your profits and of course, be sure to take advantage of new tools in data collection like that from Qualtrics or Dynata as well as attribution analysis that can be done using something like Google Ads.…
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