MKT 4561 Lecture Notes - Lecture 1: Kilobyte, Conjoint Analysis, Yottabyte
23 Feb 2019
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Metrics vs. analytics: metrics: unit of measure. Views, follows, time, everything is measurable, an individual unit of measure. grade: analytics: analysis measure. Gpa (the analysis of your grade): benchmark against other competitors. When companies benchmark they actually buy this information. Cost per click, cpc, click, bounce rates: every company has their own preferred metrics which they slice and dice in their own way. Examples of metrics: roi, conversion (offline conversions to online conversions. Costs 80% more to get a new consumer. Want the loyal consumers: rfm (recencey, frequency, monetary) (how recent the customer interacted, how frequent how much they spent) Types of analytics: noone you decide the metrics you"ll use, then you can analyze, segmentation: breaking it down. The row you"re sitting in, gpa, height, born, etc. : regression: get a general formula and make predictions. Look at the past to figure out the future: factor:
