Foundations of marketing analytics from Coursera

Who is this course for?

This course is designed for students, business analysts, and data scientists who want to apply statistical knowledge and techniques to business contexts. For example, it may be suited to experienced statisticians, analysts, engineers who want to move more into a business role, in particular in marketing.

You will find this course exciting and rewarding if you already have a background in statistics, can use R or another programming language and are familiar with databases and data analysis techniques such as regression, classification, and clustering.

However, it contains a number of recitals and R Studio tutorials which will consolidate your competences, enable you to play more freely with data and explore new features and statistical functions in R.

Business Analytics, Big Data and Data Science are very hot topics today, and for good reasons. Companies are sitting on a treasure trove of data, but usually lack the skills and people to analyze and exploit that data efficiently. Those companies who develop the skills and hire the right people to analyze and exploit that data will have a clear competitive advantage.

It's especially true in one domain: marketing. About 90% of the data collected by companies today are related to customer actions and marketing activities.The domain of Marketing Analytics is absolutely huge, and may cover fancy topics such as text mining, social network analysis, sentiment analysis, real-time bidding, online campaign optimization, and so on.

But at the heart of marketing lie a few basic questions that often remain unanswered: (1) who are my customers, (2) which customers should I target and spend most of my marketing budget on, and (3) what's the future value of my customers so I can concentrate on those who will be worth the most to the company in the future.

That's exactly what this course will cover: segmentation is all about understanding your customers, scorings models are about targeting the right ones, and customer lifetime value is about anticipating their future value. These are the foundations of Marketing Analytics. And that's what you'll learn to do in this course.

What's inside

Syllabus

Module 0 : Introduction to Foundation of Marketing Analytics

In this short module, we will introduce the field of marketing analytics, and layout the structure of this course. We will also take that opportunity to explore a retailing data set that we’ll be using throughout this course. We will setup the environment, load the data in R (we’ll be using the RStudio environment), and explore it using simple SQL statements.

Module 1 : Statistical segmentation

In this module, you will learn the inner workings of statistical segmentation, how to compute statistical indicators about customers such as recency or frequency, and how to identify homogeneous groups of customers within a database. We will alternate lectures and R tutorials, making sure that, by the end of this module, you will be able to apply every concept we will cover.

Module 2 : Managerial segmentation

Statistical segmentation is an invaluable tool, especially to explore, summarize, or make a snapshot of an existing database of customers. But what most academics will fail to tell you is that this kind of segmentation is not the method of choice for many companies, and for good reasons. In this module, you will learn to perform managerial segmentations, which are not built upon statistical techniques, but are an essential addition to your toolbox of marketing analyst. You will also learn how to segment a database now, but also at any point in time in the past, and why it is useful to managers to do so.

Module 3 : Targeting and scoring models

How can Target predict which of its customers are pregnant? How can a bank predict the likelihood you will default on their loan, or crash your car within the next five years, and price accordingly? And if your firm only has the budget to reach a few customers during a marketing campaign, who should it target to maximize profit? The answer to all these questions is… by building a scoring model, and targeting your customers accordingly. In this module, you will learn how to build a customer score, which in marketing usually combines two predictions in one : what is the likelihood that a customer will buy something, and if he does, how much will he buy for?

Module 4 : Customer lifetime value

In this module, you will learn how to use R to execute lifetime value analyses. You will learn to estimate what is called a transition matrix -which measures how customers transition from one segment to another- and use that information to make invaluable predictions about how a customer database is likely to evolve over the next few years, and how much money it should be worth.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops statistical segmentation techniques, which are essential in marketing

Taught by Arnaud De Bruyn, a recognized expert in Marketing Analytics

Teaches managerial segmentation, which is often what companies use over statistical segmentation

Develops methods for building customer score models, which are used by businesses everywhere

Requires that students already have a background in statistics

Uses R and RStudio, which may be unfamiliar to some learners

Reviews summary

Marketing analytics foundations

According to students, Foundations of Marketing Analytics is an engaging, very well-explained course that thoroughly covers the main aspects of marketing analytics. The course's many real-life examples and practical exercises equip learners with applicable skills.

Engaging and knowledgeable

"■ Good lecture from outstanding professors."

"The professors/speakers of the video makes the lesson more interesting and easy to follow. "

"Arnaud presents the topic clearly and precisely"

Applicable in day-to-day work

"Everything I learned here, was applicable in my day to day job."

"Its Very use full for Marketing analytics both Academic and Business peoples."

Good depth and breadth (touches on many techniques)

"overview of varios techniques to compare different periods"

"well-to the point (i.e but enough depth and breadth)"

"Excellent course to introduce Marketing Analytics using R and SQL."

Clear and easy to understand

"Pragmatic, clear and concise! Great course."

"Very practical and detail."

"Excellent course which consisted of many real life examples and practical excercises."

Needs improvement

"quality of quizes is very low -- you just need to modify several lines of the code and rerun the code to answer the questions."

Needs improvement

"However, quality of the R code is low"

May be difficult for those without R experience

"But if you don't have knowledge of R or R Studio, you will find it a bit difficult to handle."

"Even if you don't know R the concepts can be understood except the coding part"

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Foundations of marketing analytics with these activities:

Organize Your Course Materials

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Keeping your course materials organized will help you stay on top of your studies and make it easier to find the information you need.

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Create a system for organizing your notes, assignments, and other course materials.
Regularly review your materials and update your system as needed.

Review the Fundamentals of Statistics

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Reviewing the fundamentals of statistics will help you build a stronger foundation for the more advanced marketing analytics concepts covered in this course.

Browse courses on Statistics

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Read through your old statistics notes or textbooks.
Take an online statistics refresher course.
Work through some practice problems.

Follow a Marketing Analytics Tutorial

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Following a marketing analytics tutorial will help you learn the basics of marketing analytics and get started with using it in your own work.

Browse courses on Marketing Analytics

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Find a marketing analytics tutorial that is appropriate for your skill level.
Follow the steps in the tutorial.
Experiment with the techniques you learn in the tutorial.

Four other activities

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R Coding Practice

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Practicing R coding will help you become more proficient in the language and better able to apply it to marketing analytics tasks.

Browse courses on Data Manipulation

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Work through the R tutorials in this course.
Find additional R coding exercises online.
Participate in online coding challenges.

Build a Marketing Analytics Dashboard

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Creating a dashboard will help you apply the segmentation and scoring models you learn in this course to a real-world dataset.

Browse courses on Marketing Analytics

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Gather data from a marketing data source.
Clean and prepare the data.
Build visualizations to track key marketing metrics.
Create a dashboard layout that is easy to understand and use.
Deploy the dashboard to a web server or cloud platform.

Write a Blog Post or Article

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Writing a blog post or article will help you synthesize your knowledge of marketing analytics and share it with others.

Browse courses on Marketing Analytics

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Choose a topic related to marketing analytics.
Research the topic and gather data and insights.
Write a draft of your blog post or article.
Edit and revise your writing.
Publish your blog post or article on a website or social media platform.

Develop a Marketing Analytics Plan

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Developing a marketing analytics plan will help you apply the concepts you learn in this course to a real-world business scenario.

Browse courses on Marketing Strategy

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Define the objectives of your marketing analytics plan.
Identify the key metrics you will track.
Develop a data collection and analysis strategy.
Create a plan for using the insights from your analysis to improve your marketing campaigns.
Present your marketing analytics plan to stakeholders.

Career center

Learners who complete Foundations of marketing analytics will develop knowledge and skills that may be useful to these careers:

Data Analyst

A Data Analyst is responsible for collecting, cleaning, and analyzing data to help businesses make informed decisions. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in data analysis. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for data analysts to understand. If you are a data analyst, taking this course will help improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Data Analyst

Marketing Manager

A Marketing Manager is responsible for developing and executing marketing campaigns. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in marketing analytics. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for marketing managers to understand. If you are a marketing manager, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Marketing Manager

Market Researcher

A Market Researcher is responsible for conducting research to understand the needs of customers and the competitive landscape. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in market research. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for market researchers to understand. If you are a market researcher, taking this course will help improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Market Researcher

Product Manager

A Product Manager is responsible for developing and managing products. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in product management. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for product managers to understand. If you are a product manager, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Product Manager

Business Analyst

A Business Analyst is responsible for analyzing business processes and identifying opportunities for improvement. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in business analysis. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for business analysts to understand. If you are a business analyst, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Business Analyst

Financial Analyst

A Financial Analyst is responsible for analyzing financial data to make investment decisions. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in financial analysis. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for financial analysts to understand. If you are a financial analyst, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Financial Analyst

Consultant

A Consultant is responsible for providing advice to businesses on how to improve their operations. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in consulting. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for consultants to understand. If you are a consultant, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Consultant

Data Scientist

A Data Scientist is responsible for developing and using statistical models to solve business problems. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in data science. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for data scientists to understand. If you are a data scientist, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Data Scientist

Quantitative Analyst

A Quantitative Analyst is responsible for using statistical methods and techniques to develop trading strategies. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in quantitative analysis. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for quantitative analysts to understand. If you are a quantitative analyst, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Quantitative Analyst

Statistician

A Statistician is responsible for collecting, analyzing, and interpreting data. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for statisticians to understand. If you are a statistician, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Statistician

Actuary

An Actuary is responsible for assessing risk and uncertainty. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in actuarial science. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for actuaries to understand. If you are an actuary, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Actuary

Risk Manager

A Risk Manager is responsible for identifying, assessing, and mitigating risks. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in risk management. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for risk managers to understand. If you are a risk manager, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Risk Manager

Healthcare Analyst

A Healthcare Analyst is responsible for analyzing healthcare data to improve patient outcomes. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in healthcare analysis. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for healthcare analysts to understand. If you are a healthcare analyst, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Healthcare Analyst

Insurance Analyst

An Insurance Analyst is responsible for analyzing insurance data to make underwriting decisions. The course Foundations of Marketing Analytics would be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in insurance analysis. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for insurance analysts to understand. If you are an insurance analyst, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Insurance Analyst

Economist

An Economist is responsible for studying the economy and making predictions about its future performance. The course Foundations of Marketing Analytics may be helpful for someone in this role because it provides a strong foundation in statistical methods and techniques that are used in economics. Additionally, the course covers topics such as customer segmentation, targeting, and lifetime value, which are all important concepts for economists to understand. If you are an economist, taking this course will improve your skills in data analysis, statistical modeling, and customer behavior.

See salaries and explore the career path for Economist