Using statistics to examine and determine patterns in data. Involves big-data analysis.
Predictive analytics is the “Moneyball” approach to measuring marketing effectiveness.
Analytics help find patterns that brands can use to predict and understand customer behavior.
For example, predictive analytics can help to understand and predict customer behavior such as shopping habits and purchasing trends.
Data is the new gold!
Quantifies how well a brand performs within a market, compared with its average performance among all markets.
Measures the relative strength of a brand within a specific market.
Quantifies the relative performance of a brand within specified customer groups.
Helps marketers identify strong and weak segments (usually demographic or geographic) for individual brands.