Age Based Allocation
Text Analysis Techniques for Market Research
Strategic Planning
Business Metrics for Tracking Outcomes
Focus
Business Metrics
Enabling Insight-Driven Marketing Campaigns
Data Analysis in Marketing
Text Analysis Techniques for Market Research 
1 Techniques for Sentiment Analysis Lexicon-
based approaches: These involve using predefined lists of words and phrases categorized by sentiment (positive, negative, neutral)
...1 Common Algorithms Algorithm Description Latent Dirichlet
Allocation (LDA) A generative statistical model that assumes documents are mixtures of topics
...
Strategic Planning Strategy Formulation: Developing strategies
based on the analysis conducted in the previous step
...Resource
Allocation: Ensures that resources are allocated efficiently to maximize impact
...
Business Metrics for Tracking Outcomes By tracking operational metrics, organizations can identify bottlenecks, streamline processes, and optimize resource
allocation to improve operational performance
...Measuring the effectiveness of strategies and initiatives Monitoring progress towards goals Enhancing decision-making
based on data Optimizing resource allocation Implementing a Business Metrics Strategy When implementing a business metrics strategy, organizations should follow these best practices:
...
Focus This concept is crucial for effective decision-making, resource
allocation, and achieving desired outcomes
...and Adjustment: Continuously reviewing analytics processes and outcomes allows organizations to adjust their focus as needed
based on changing business conditions
...
Business Metrics Types of Business Metrics Business metrics can be classified into various categories
based on their focus and purpose
...Resource
Allocation: Metrics help in optimizing resource allocation by identifying areas that require more focus or investment
...
Enabling Insight-Driven Marketing Campaigns By utilizing prescriptive analytics, businesses can identify the best actions to take
based on predictive insights, ultimately leading to more effective marketing strategies
...Overview In the digital
age, the volume of data generated by consumers is unprecedented
...Optimized Marketing Spend Data-driven decisions lead to more efficient
allocation of marketing resources
...
Data Analysis in Marketing Market Segmentation: Data analysis enables businesses to segment their audience
based on various criteria, allowing for targeted marketing efforts
...Resource
Allocation: Data analysis helps in optimizing budget allocation for marketing initiatives
...Description Demographic Data Information about the characteristics of a population, including
age, gender, income, and education level
...
Data Mining Techniques for Performance Evaluation Example: Classifying sales performance as 'above average', 'average', or 'below average'
based on historical data
...productivity and efficiency Identifying areas for improvement Enhancing customer satisfaction Optimizing resource
allocation Supporting strategic planning and decision-making 3
...
Business Objectives Predictive Analytics: Uses statistical models to forecast future outcomes
based on historical data
...Resource
Allocation: Clear objectives facilitate effective allocation of resources, ensuring that efforts are focused on high-priority areas
...
Sales Overview Sales Forecasting: The prediction of future sales
based on historical data
...Common segmentation strategies include: Demographic Segmentation: Classifying customers based on
age, gender, income, etc
...Resource
allocation ...
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