Question
The analytics tools and methods available to perform marketing analytics come from a wide range of source domains, such as psychology, statistics, sociology, econometrics, management
The analytics tools and methods available to perform marketing analytics come from a wide range of source domains, such as psychology, statistics, sociology, econometrics, management science, information systems, computer science, linguistics, and so on. Across domains, though, these tools and methods can be classified into four broad categories: descriptive, predictive, prescriptive, and active.
The goal of this activity is to demonstrate your understanding of the different categories of tools and methods for marketing analytics.
Read each statement and match it to the category of tools and methods for marketing analytics it best represents.
- Descriptive analytics tools
- Active analytics tools
- Prescriptive analytics tools
- Predictive analytics tools
Match each of the options above to the items below.
- ExxonMobil uses Excel spreadsheets, SPSS, SAS, and visualization software that provides a graphical display of data, to help its decision makers understand what has happened (i.e., data from the past/present).
- Kroger Supermarket uses the Google Analytics 360 platform to integrate information about purchases from its online and brick-and-mortar stores and thereby forecast if an online advertisement prompts a purchase in either channel.
- Home Depot analyzed its purchases and found that 25 percent of the time its customers buy a garden hose, they also purchase a sprinkler. It then ran an optimization and simulation model to test what will happen if it moves the sprinklers.
- Roomba vacuums gather information about the layout of homes, how many pets are shedding, and how many toys they bump into as they make their automated rounds. Such information, combined with data gathered with grocery orders placed through Alexa, allows marketers to determine what kinds of offers to issue.
- Home Depot analyzed its purchases and found that 25 percent of the time its customers buy a garden hose, they also purchase a sprinkler. It then ran an optimization and simulation model to test what will happen if it moves the sprinklers. Open choices for matching
- Kroger Supermarket uses the Google Analytics 360 platform to integrate information about purchases from its online and brick-and-mortar stores and thereby forecast if an online advertisement prompts a purchase in either channel. Open choices for matching
- ExxonMobil uses Excel spreadsheets, SPSS, SAS, and visualization software that provides a graphical display of data, to help its decision makers understand what has happened (i.e., data from the past/present). Open choices for matching
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