Learn about the importance of marketing experiments and their role in your marketing mix and learn about how to design and perform market experiments.
- There are three strategic best practices that will provide you with the right foundation for data driven marketing. The first of these is agile marketing. Agile marketing is an iterative workflow implementation focused on speed, responsiveness, and maximizing performance. It's important for data driven marketing organizations for one key reason. If you're leveraging the data to make informed decisions about how to drive performance, then you have to be responsive. You have to take action on the data. You have to take action on the insights your data analysis reveals.
Time and time again over the years, I've observed expensive marketing research efforts where the results get housed in a three ring binder collecting dust on a shelf somewhere. This is not the type of data analysis we've been discussing in this course. The shelf life for some of these insights can only be a few weeks, or a few days, or even a few hours. That requires not only a shift in thinking, but a shift in process. Think of it this way. All marketing consists of three things. Planning, acting, and tracking.
The planning consists of strategy, the acting is the execution of your plans and programs, and the tracking is all about analyzing the right data to validate results and find hidden insights. Envision a triangle in your mind's eye. Each corner of this triangle represents one of these three elements. One corner is the plan, the next is the act, and the next is the track. Now, imagine if we were to evolve that triangle into more of a circle. Now the lines and the points separating each element gets blurred.
It becomes difficult to see where one element begins and the other ends. The triangle approach creates a silo effect. Each element exists in its own corner, somewhat rigid. The circle represents an agile approach. The idea here is transparency and responsiveness, and collaboration. So, the question becomes are these three facets of your marketing organization organized in a triangular workflow, or a circular one that is as responsive as it needs to be? If you categorize yourself in the former, you are certainly not alone.
It can be a challenge, but there are some great resources out there today to help you learn agile workflow, so that you can bring it into your own marketing group. There are devices like backlogs and sprint plans and standup meetings, and realtime collaboration tools, and these have all gained a lot of traction over the last few years. The right solution is typically one that borrows from these conventions and does it in a way that is iterative and open, so that you can find the solutions that are best for your group.
In this course, discover how to gain valuable insights from large data sets using specific languages and tools. Follow Chris DallaVilla as he walks through how to use R, Python, and Tableau to perform data modeling and assess performance. As Chris dives into these concepts, he shares specific case studies that come directly from his own work with clients. Plus, he shares three essential—and practical—best practices for data-driven marketing that you can use to bolster your organization's marketing performance.
- Installing R, Python, and Tableau
- Navigating the UI for R, Python, and Tableau
- Using R, Python, and Tableau
- Exploratory analysis
- Performing regression analysis
- Performing a cluster analysis
- Performing a conjoint assessment
- Stakeholder alignment