Market Analytics made Easy

MARKET ANALYTICS CAN BE SHARPENED LIKE THE HETROGENEOUS COLOUR PENCILS

Social Network Marketing is one of the prominent means to create a presence for business and develop a BRAND. In order to create brand awareness and attain audience, market dynamic or static data can assist in segmenting the audiences based on demographics & understanding the benefits of using statistical market analysis.

Market Research/Analytics

Research and analytics will enhance the understanding of the business and its value. Techniques are explained to understand data straightforwardly:

Data Mining    Clustering, Customer Segmentation to be used to classify  large customer population into smaller homogeneous groups to identify the target customers

DATA ANALYTICS

Data Analytics    Insights & Analysis of the customers patterns, behaviors & demographics

Regressions  
(a) Time series Regression for sales prediction & to check seasonality of sales

(b) Logistic Regression to predict the probability of whether the customer would be a potential buyer or not and

(c) Linear Regression to check sales vs. revenue

Decision Tree   Another analysis method to predict whether the customer would be a potential buyer

Promotional analysis Promotions data is analyzed to understand the sales lift and ROI from various promotional activities such as In-Store Displays, newspaper, Coupons, In-Store, Mail/Online Offers, Special Packs, Special Events and Discounts etc.

Stochastic analysis Compare competitors, Identify Brand Choice

Probability Models
 – Identifies the likelihood to buy/purchase the product (be it branded, local or global)

Survival analysis Identifies retainable loyal customers based on behavior’s, purchase patterns etc.

Brand Switching Matrix – Displays number of purchases of each brand by end-users and identifies whether they are likely to be brand switchers

Sentiment Analysis  Opinionated end-user feedback data conversion to decisions to amend product &features

To know more on Marketing innovative strategies to promote afresh to compete with competitors, after the above market analytics check my other blog onMarket Segmentation & Strategies


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