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Exploring the Essential Features of “Marketing Analytics and Retail Business Management“
Retail Analytics Using MS Excel – Covering Forecasting, Market Basket, RFM, Customer Valuation & Price Bundling
What You’ll Learn:
- Become proficient in using powerful tools such as Excel Solver to create forecasting models.
- Learn how to estimate the trend and seasonal aspects of sales.
- Perform market basket analysis and calculate lift to derive a store layout that maximizes sales from complementary products.
- Understand how to interpret the results of Linear Regression models and translate them into actionable insights.
- Learn practical concepts of how to get revenue/profit-optimized price points in the case of bundle products.
- Understand why companies bundle services and products and how to implement effective bundling strategies.
- Perform RFM (Recency, Frequency, and Monetary Value) analysis to maximize profit from promotional mail campaigns.
- Calculate customer lifetime value under different scenarios and use it to increase the company’s profitability.
- Incorporate the impact of discount rate and retention rate to calculate customer value.
Requirements:
- PC with any version of Excel installed.
- Basic understanding of Excel operations like opening, closing, and saving a file.
Description: If you’re seeking a comprehensive course on Marketing Analytics and Retail Business Management, you’ve come to the right place! This course covers everything from forecasting models to market basket analysis, RFM analysis, customer valuation, and price bundling, all implemented using MS Excel.
After completing this course, you will be able to:
- Implement forecasting models effectively, including simple linear regression, simple multiple regression, additive and multiplicative trend and seasonality models.
- Perform market basket analysis and optimize store layouts for maximizing sales.
- Conduct RFM analysis to enhance profit from promotional mail campaigns.
- Increase revenue/profit by determining optimal bundle prices using Excel Solver.
- Understand the value of customers and make intelligent decisions based on marketing analytics recommendations.
- Confidently practice, discuss, and understand various marketing analytics models used by organizations.
Why choose this course? This course focuses on practical examples, with each section comprising theoretical concepts, step-by-step instructions, downloadable Excel files, class notes, and assignments. Taught by experienced managers in a global analytics consulting firm, the course offers real-world applications of marketing analytics, marketing research, and forecasting techniques.
Our Promise: We are committed to teaching our students. Any questions about the course content, marketing analytics, marketing research, or related topics can be posted in the course or sent directly to us.
Who this course is for: Anyone curious to learn the analytics behind the most popular marketing strategies.
Download Practice Files, Take Quizzes, and Complete Assignments: With each lecture, class notes, quizzes, and practice assignments are provided for a comprehensive learning experience.
What is Covered in This Course:
- Introduction to Marketing Analytics, Marketing Research, and Forecasting Techniques.
- Basics of Forecasting and creating simple linear regression models in Excel.
- Getting data ready for regression models, including business knowledge, data exploration, uni-variate and bi-variate analysis, outlier treatment, and missing value imputation.
- Forecasting using regression models, covering simple and multiple linear regression.
- Handling special events like holiday sales.
- Identifying seasonality and trend for forecasting using the Solver.
- Market basket analysis and lift calculations for store layout optimization.
- RFM analysis for maximizing profit from promotional mail campaigns.
- Price bundling techniques for revenue/profit maximization using Excel Solver.
- Customer Lifetime Value concepts and Excel modeling for sensitivity analysis.
Excel Crash Course: A section for those new to Excel or wanting to enhance their skills for this course.
Reading Material: Some examples are derived from the book “Marketing Analytics: Data-Driven Techniques with Microsoft Excel [Winston, Wayne L.],” recommended for aspiring marketing analysts.
Enroll Now and Boost Your Marketing Analytics Skills! Start-Tech Academy
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