Learn how to use marketing analytics and develop quantitative models that use business data to forecast sales and support important marketing decisions.
About this course
Marketers want to understand and forecast how customers purchase products and services and how they respond to marketing initiatives.
Learn how analytics help businesses drive marketing to maximise its effectiveness and <optimise return on investment (ROI).
In this course, part of the Business Analytics MicroMasters programme, you can discover how to develop quantitative models that leverage business data, statistical computation, and machine learning to forecast sales and marketing impact for:
customer relationship management;
You will learn how to use probabilistic models and optimisation tools to model customer demand forecasts, pricing sensitivity, Lifetime Value and how to leverage such data to make optimal decisions on designing new products, marketing segmentation, and strategy.
What you’ll learn
Skills acquired after the course:
Demand forecasting using customer-base models and statistical approaches;
Market segmentation methods and best practices for identifying potential customer segments and focused targeting;
Computation of Customer Lifetime Value for analysing customer, brand loyalty and forecasting revenue in the short and long run;
Factors to consider while designing and introducing new products to the market;
Calculating Optimal Pricing for products and services to get the best ROI;
Assessing Marketing ROI for making better and data-driven decisions.
About the instructors
Kamel Jedidi is the John Howard Professor of Business and the Chair of the Marketing Division at Columbia Business School, New York. He holds a Bachelor’s degree in Economics from University of Tunis and Master’s and Ph.D. degrees in Marketing and Statistics from the Wharton School, University of Pennsylvania. Dr. Jedidi has extensively published in leading marketing and statistical journals. His research interests include pricing, product positioning, and market segmentation. He was awarded the 1998 IJRM Best Article Award and the Marketing Science Institute 2000 Best Paper Award. He was also finalist for 2009 Paul Green Award for Journal of Marketing Research and for the 2009 Long-term Impact Paper Award for Marketing/Management Science. Dr. Jedidi is senior Editor for the Consumer Needs and Solutions Journal and serves on the editorial board for the Journal of Business-to-Business Marketing. Dr. Jedidi has conducted seminars at several business conferences and universities and also spoken at and consulted with several multinational companies.
Asim Ansari is the William T. Dillard Professor of Marketing at Columbia University. He received his PhD in marketing from New York University. His current research focuses on the Bayesian modeling for customer relationship management, personalisation and customisation of products and marketing actions and preference measurement. His research has appeared in several leading marketing journals. He is on the Editorial board of Marketing Science, and the Journal of Marketing Research. He has received the Paul Green award from the American Marketing Association for his work on e-customisation. In addition, his has been a finalist for the William O’ Dell award, the John Little Best Paper Award, Frank M. Bass Outstanding Dissertation Award and the INFORMS Society for Marketing Science Long Term Impact Award.
Duration: 12 weeks, 8-10 hours per week
Instructors: Kamel Jedid and Asim Ansari
Institution: Columbia University