Home » Posts tagged 'analytics'

Tag Archives: analytics

Categories

Five Must-Read Books for Marketing Analytics Students

pinnellMike Pinnell graduated from the Crosby MBA program in December 2014 with a concentration in marketing analytics. He will work at DISH, accepting an offer with the company after an internship in which he provided insight into how customers use its self-service tools. Pinnell will live in Denver and looks forward to mountain climbing every weekend.
As I prepare to graduate, I have thought about what sparked my interest in analytics and which marketing analytics books helped me develop as an analyst. This list comes with a significant caveat, however: The field of marketing analytics changes so quickly that as soon as a book is published it is behind the times. To truly keep up, supplement these recommendations with sites like CIO for technology business news, Occam’s Razor for digital marketing news and strategies, Forrester for a blog run by analysts at various companies, Big Data University, and others. (more…)

Transforming Data into Information: An Alumna Perspective

Laura “Rudy” Rudolphi, Crosby MBA ’09, did not know exactly what career she wanted to pursue when she entered the Crosby MBA program. She always had an interest in statistics, and found classes such as Database Marketing to be entertaining and informative. “The [Crosby MBA] program allowed me to develop a strong ability to think critically,” says Laura, who found herself taking an indirect path to a career in analytics.

The core analytical skills she acquired led to her current role as Associate Director of Analysis at dunnhumbyUSA in Cincinnati, Ohio, where she is challenged to develop special marketing campaigns and models not only to target customers but also to increase their loyalty to the brand.

Growing customer loyalty is one application of data analysis that employers such as dunnhumby use daily in order to achieve success. This UK-based customer science company focuses on increasing and sustaining this customer loyalty for its clients through campaign creations and model building. They expanded operations to the U.S in 2003 through a joint venture with The Kroger Company to better analyze customer rewards card data in order to personalize and enhance the consumer’s shopping experience.

The Crosby program remains innovative and cutting-edge by providing students with the opportunity to concentrate in the growing field of Marketing Analytics. In addition, the curriculum includes several required courses in business analytics, such as Data Analysis for Managers and Managerial Analytics. From working with basic data sets to building complex prediction models, the professors challenge each and every student to explore their critical thinking ability. Today’s companies often have an abundance of data, but they are not always able to turn it into useful, quality information. Marketing analytics seeks to explore databases and effectively utilize them through predictive modeling and other tools in order to make important marketing strategies, tasks, and decisions. Professors use a “hands-on” approach to learning through the use of programs such as SAS. “What I learned from my exposure to SAS during my MBA was invaluable,” says Laura.
As business continues to evolve, the field of marketing analytics will continue to play a major role in the decision-making process. Students with a passion for exploring and discovering patterns in data should consider the career possibilities in this field. The Crosby MBA program provides students with the opportunity to gain a valuable, experiential learning experience through its Marketing Analytics concentration. “Hiring managers want to see candidates with training who can analyze data and not just crunch numbers,” states Laura, “and the Crosby program helps prepare students for this critical thinking mindset.”

Spotlight on the Crosby Analytics Society

Hi! My name is Allie Bock, and I am a second year MBA student, with a concentration in Marketing Analytics.  I love the Mizzou so much that I chose it twice- I also a have a Bachelor’s degree in Strategic Communication Journalism from The University of Missouri.  I decided to continue my education with the Crosby MBA Program because of the analytics emphasis, which is not offered at many schools and is, in my opinion, the future of Marketing.  I believe that data tells a story and it is our job as analysts to turn raw data into information and accurately capture that story.

Data is only one of my passions, I also enjoy working with people, especially when it comes to selling ideas or concepts.  That is where the Crosby Analytics Society (also known as CAS) comes in.  I am Vice President of Membership, which means that it is my job to tell everyone how fantastic CAS is and how what we do in CAS will be relevant to almost any profession in today’s business world.

Analytics are applicable to almost any profession because metrics matter.  Whether it be in banking, advertising or budgeting and planning for any industry, there is a need for ‘number crunchers.’  Through training sessions, online classes, panels, webinars, competitions and many other opportunities, CAS helps members acquire the skills that are invaluable in the professional world.  CAS wants to prepare Mizzou graduates to be the best in their respective fields and to have the knowledge of business analytics that allows them to make well-informed decisions.

CAS is free to join and is open to all graduate students.  Official meetings are held once per month, but there are always opportunities to learn more about analytics with CAS.  To name a few, CAS members currently have the option to take an MOOC (massive open online course) to learn ‘r’ programming language, CAS members are competing in the Adobe Digital Analytics Competition, and participating in training on how to use Bloomberg terminals.  There are endless opportunities offered through CAS, all of which at least one CAS Executive Board Member participates, so CAS members are never alone, although they have the flexibility of participating in the organization as much – or as little – as they would like, and as their schedule allows.

 

If you are a current University of Missouri graduate student who is interested in joining the Crosby Analytics Society, please leave a comment below requesting more information!

The Growing Importance of Marketing Analytics

Have you ever wondered how companies come up with those crazy ads?  What are these people trying to accomplish and who decided these things?  Why would Go Daddy come up with an ad so hard to watch it becomes a train wreck people cannot stop talking about?

This involves the world of Marketing and Marketing Analytics.  As a brief definition of Marketing Analytics, it is the application of statistics and operations research to help businesses to maximize marketing effectiveness and returns on their investments.  Somewhere someone told these companies that ads placed in these environments would be beneficial for them.  Before I get to into this topic, I want to explain why I think this is important.

As someone who had little real world experience coming into the MBA program I really was not sure what I wanted to focus on or wanted to do.  I chose Analytics at first because it sounded somewhat along the lines of advertising, something I wanted to get into.  After talking to current students and some of the faculty about what specifically, a Marketing Analytics major does I became increasingly comfortable with the focus I had chosen.  Coming out of my undergrad, I had majored in Organizational Communication, something a little broader and more difficult to find a job with.  I wanted to narrow down my focus to something more calculated.  I knew exactly what I wanted to do but I was not sure of the means of how to get there.  I did a little research about Marketing Analytics and was not disappointed.

The first thing I want to discuss is how much this field is growing and continues to grow in the next couple of years.  This market is booming and seeking individuals skilled in Marketing Analytics and the tools that come with the title.  If you are looking to move up in your current career or even changing jobs completely this focus looks to be extremely promising.  Some of the current projections are looking at the market for these jobs nearly doubling in the near future. 

Hiring Demand for Marketing Professionals in the US, November 2008- November 2012

All of the insights, information, and data you can gather from a marketing analytics tool is really only useful if you do something with it. The true value of analytics is not just to prove to your boss that all the marketing activities you’re doing are worth the time and money; it’s also to help you improve and optimize your marketing performance — on both an individual channel-by-channel basis as well as an overall, cross-channel machine.  Being able to take your company or employer to the next level with your skills in Analytics is what will differentiate you from your peers.

Not only is the specific Marketing Analytics degree something that more and more companies are on the hunt for, but people able to handle the “Big Data” that is produced by these research studies.  The ability to decode the numbers and pull useful information from consumer data gives relevance to the study and develops legitimate reasoning for how to target a market.  Companies are beginning to spend much of their revenue to obtain this data from those employers who make it their business to collect this information.  With the market, growing around Big Data and individuals who can deal with it provides for the perfect job market.

 

 

 

 

 

 

 

I believe that getting my MBA through the Crosby MBA program gives me the ability to focus on a career that has much promise behind it.  With such a new field of study, a program that already has a focus area strong in Analytics gives my colleagues and me a significant edge over similar competition.  Having the ability to either strengthen your current position, or brand yourself with a currently very attractive image provides numerous benefits to both parties.  Those graduating are going into a very prosperous field where they can expand their knowledge and improve their own careers.  The program then benefits by showing off these successful students to attract an even greater more motivated class of students.

I am going to leave my final words to a very influential company currently involved in Marketing Analytics talking about their benefits:  Smarter Marketing: Analytics Leads to Customer Centricity

                                                                                                                                                  

Josh Hampshire, Marketing Analytics, December 2014