Unit-3 MEDIA AUDIENCE AND CONSUMER OPINION DATA

Data collection is a process of collecting information from all the relevant sources to find
answers to the research problem, test the hypothesis and evaluate the outcomes.
AUDIENCE PROFILING- It is the process of defining exactly who your target customer is
by unifying and analyzing consumer buying behaviors across multiple platforms and
touchpoints
• SEGEMENTATION-Age, Gender Location, Lifestyle
• ENGAGEMENT- Platforms used by target audience and critical timing
• MESASGING- Meaning campaigns to challenge consumer perception
• MEASUREMENT- ROI of marketing campaigns or ROMI
AUDIENCE ANALYSIS

 Assessing the audience to make sure the information provided to them is at the
appropriate level
 All communications targeted towards the defined audience
 Considering all known factors to create an audience profile
AUDIENCE INTERACTIVITY

 Consumers can participate in a mediated communication in real time

 Platform interactivity
 Content creators
 Participatory audience

Viewers are more satisfied from watching user generated videos than repurposed videos

TRADITIONAL AUDIENCE VALUATION CRITERIA

Online Engagement -Applause rate, Conversation rate, Amplification rate

Advertising Effectiveness -Emotional ads deliver a 23% uplift in sales volume
Informational cascade -Herding behavior where users make decisions based on the
comments and reviews
DISCRIMINANT ANALYSIS
 Discriminant analysis is a technique that is used by the researcher to analyze the
research data
 The criterion or the dependent variable is categorical
 The predictor or the independent variable is an interval
The objective of discriminant analysis is to develop discriminant functions that are nothing
but the linear combination of independent variables that will discriminate between the
categories of the dependent variable in a perfect manner. It enables the researcher to examine
whether significant differences exist among the groups, in terms of the predictor variables. It
also evaluates the accuracy of the classification. Discriminant analysis is described by the
number of categories that is possessed by the dependent variable.
MEDIA AUDIENCE BEHAVIOR
Digital media -Digitized content that can be transmitted over computer networks
1. Owned Media: Online assets controlled by you
2. Paid Media: Promotion of online content to increase traffic
3. Earned Media: Customers recommending you
CONSUMERS IN THE DIGITAL MARKETING SETTING

Digital consumer behavior

1. Consumer digital culture
2. Responses to digital advertising
3. Effects of digital environments on consumer behavior
4. Mobile environments
5. Online WOM
Digital landscape
Audience psychographic analytics
Psychographics refer to all the psychological variables that combine to form a person’s inner
self. Even if two people share the same demographic or geographic characteristics, they may
still hold entirely different ideas and values that define them personally and socially. Some of
these differences are explained by looking at the psychographic characteristics that define
them.  Psychographic variables include:

*Motives – an internal force that stimulates someone to behave in a particular manner. A

person has media consumption motives and buying motives. A motive for watching
television may be to escape; a motive for choosing to watch a situation comedy rather than a
police drama may be the audience member’s need to laugh rather than feel suspense and
anxiety.

*Attitudes – a learned predisposition, a feeling held toward an object, person, or idea that
leads to a particular behaviour. Attitudes are enduring; they are positive or negative, affecting
likes and dislikes. A strong positive attitude can make someone very loyal to a brand (one
person is committed to the Mazda brand so they will only consider Mazda models when it is
time to buy a new car). A strong negative attitude can turn an audience member away from a
message or product (someone disagrees with the political slant of Fox News and decides to
watch MSNBC instead).

*Personalities – a collection of traits that make a person distinctive. Personalities influence

how people look at the world, how they perceive and interpret what is happening around
them, how they respond intellectually and emotionally, and how they form opinions and
attitudes.

*Lifestyles – these factors form the mainstay of psychographic research. Lifestyle research
studies the way people allocate time, energy and money.
Qualitative analysis
Qualitative analysis uses subjective judgment to analyse a company's value or prospects
based on non-quantifiable information, such as management expertise, industry cycles,
strength of research and development, and labour relations. It uses subjective judgment based
on "soft" or non-quantifiable data. It deals with intangible and inexact information that can be
difficult to collect and measure. Machines struggle to conduct qualitative analysis as
intangibles can’t be defined by numeric values. Understanding people and company cultures
are central to qualitative analysis. Looking at a company through the eyes of a customer and
understanding its competitive advantage assists with qualitative analysis.
Qualitative analysis tools- Qualitative Data Analysis Software?: NVivo, ATLAS.ti,
Provalis Research Text Analytics Software, Quirkos, MAXQDA, Dedoose, Raven's Eye,
Qiqqa, webQDA, HyperRESEARCH, Transana, F4analyse, Annotations, Datagrav are some
of the Top Qualitative Data Analysis Software.
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Unit 4- COMPETITIVE INTELLIGENCE ANALYSIS
Competitive intelligence- refers to the ability to gather, analyse, and use information
collected on competitors, customers, and other market factors that contribute to a business's
competitive advantage. • it helps businesses understand • their competitive environment and
the opportunities and challenges it presents. •Gathers actionable information from diverse
published and unpublished sources, collected efficiently and ethically.
CI means "know your enemy. where businesses unearth the finer points of competitors’
business plans, including the customers they serve and the marketplaces in which they
operate. • analyses how a wide variety of events disrupts rival businesses. • reveals how
distributors and other stakeholders may be impacted, • Within any organization, competitive
intelligence means different things to different people and departments. • Eg., to a sales
representative, it may refer to tactical advice on how best to bid for a lucrative contract. • To
top management, it may mean cultivating unique marketing insights used to gain market
share against a formidable competitor.
Business intelligence- analysis of an organization’s internal data. • It involves collecting
large amounts of raw data regarding all aspects of the business: from productivity to profits
and losses, and transforming it into actionable insights. • Companies use business intelligence
as a means to identify and develop new business opportunities, and make improvements to
existing processes, products, and services. • Business analytics is the use of quantitative and
statistical tools, • Business intelligence focuses more on qualitative analysis, such as asking
questions and interpreting reports
Business intelligence vs. competitive intelligence
• Business intelligence refers to the tools, software and systems that play a vital role in the
strategic planning process of a company. • It is the analysis of an organization’s internal data-
involves collecting large amounts of raw data regarding all aspects of the business, from
productivity to profits and losses, and transforming it into actionable insights. • Companies
use BI as a means to identify and develop new business opportunities, and make
improvements to existing processes, products, and services. • BI provides overall picture like
investment, technology, R&D - has applications across all levels of an organization, from
product development and pricing to staffing, strategic planning, and process improvement
• Competitive intelligence is the act of understanding a company's industry and industry
rivals so the company can make better business decisions• CI: focuses on the external factors
that influence the operation. • CI means looking at the state of the market in which a
company operates, to identify trends, potential threats, and points of differentiation. •
includes looking closely at a company’s competitors, and looking for their strengths and
weakness to identify potential opportunities. • involves taking the information that’s been
collected and turning it into actionable insights to gain competitive advantage; • eg.,
analyzing a competitor’s poor performance in a particular market can provide a blueprint of
what not to do, and some ideas of how to penetrate that market more successfully. • CI is
gathered using publicly available information, and is completely legal. • Corporate espionage,
or gathering information about competitors via questionable means (such as posing as a
potential customer, hacking, or poaching employees) is not only unethical, but illegal in many
cases
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Unit 5- DEMOGRAPHICS MODELING

Types of analytics
A majority of raw data, particularly big data, doesn't offer a lot of value in its unprocessed
state. Most raw data are not suitable for human consumption, but the information we
derive from the data is. By applying the right set of tools, we can pull powerful insights.

1. Descriptive Analytics (Explain what happened, Insight into the past)

This can be termed as the simplest form of analytics. The past refers to any point of time
that an event has occurred, whether it is one minute ago, or one year ago. • useful because
they allow us to learn from past behaviours, and understand how they might influence
future outcomes. • The vast majority of the statistics we use fall into this category- basic
arithmetic like sums, averages, percent changes.) • Usually, the underlying data is a
count/frequency, or aggregate of a filtered column of data to which basic math is applied.
• useful to show things like total stock in inventory, average amount spent per customer
and year-over-year change in sales. • E.g. reports about company’s production, financials,
operations, sales, finance, inventory and customers. The mighty size of big data is beyond
human comprehension and the first stage hence involves crunching the data into
understandable chunks. The purpose of this analytics type is just to summarise the
findings and understand what is going on. It is said that 80% of business analytics mainly
involves descriptions based on aggregations of past performance. It is an important step to
make raw data understandable to investors, shareholders and managers. This way it gets
easy to identify and address the areas of strengths and weaknesses such that it can help in
strategizing.

 2. Diagnostic Analytics (Explains why it happened)

Diagnostic analytics is used to determine why something happened in the past. It is

characterized by techniques such as drill-down, data discovery, data mining and
correlations. Diagnostic analytics takes a deeper look at data to understand the root causes
of the events. It is helpful in determining what factors and events contributed to the
outcome. It mostly uses probabilities, likelihoods, and the distribution of outcomes for the
analysis. In a time series data of sales, diagnostic analytics would help you understand
why the sales have decrease or increase for a specific year or so. However, this type of
analytics has a limited ability to give actionable insights. It just provides an understanding
of causal relationships and sequences while looking backward. The functions of
diagnostic analytics fall broadly into three steps: Identifying anomalies:
Based on the results of descriptive analysis, analysts must identify areas that require
further study because they raise questions that cannot be answered simply by looking at
the data. These could include questions like why sales have increased in a region where
there was no change in marketing, or why there was a sudden change in traffic to a
website without an obvious cause. Discovering what caused the
anomaly: Analysts must identify the data sources that will help them explain these
anomalies. Often, this step requires analysts to look for patterns outside the existing data
sets, and it might require pulling in data from external sources to identify correlations and
determine if any of them are causal in nature. Determining causal
relationships: Hidden relationships are uncovered by looking at events that might have
resulted in the identified anomalies. Probability theory, regression analysis, filtering, and
time-series data analytics can all be useful for uncovering hidden stories in the data.

 3. Predictive Analytics (Forecasts what might happen)

As mentioned above, predictive analytics is used to predict future outcomes. However, it

is important to note that it cannot predict if an event will occur in the future; it merely
forecasts what are the probabilities of the occurrence of the event. A predictive model
builds on the preliminary descriptive analytics stage to derive the possibility of the
outcomes. Companies use statistics to forecast what might happen in the future. This is
because the foundation of predictive analytics is based on probabilities. • They combine
historical data found in ERP, CRM, HR systems to identify patterns in the data and apply
statistical models and algorithms to capture relationships between various data sets. • Eg.
forecasting customer behaviour and purchasing patterns, predicting what items customers
will purchase together, identifying trends in sales activities, forecast demand for inputs
from the supply chain, operations and inventory, credit score calculation.

 4. Prescriptive Analytics (Recommends an action based on forecast)

The basis of this analytics is predictive analytics but it goes beyond the three mentioned
above to suggest the future solutions. The relatively new field of prescriptive analytics
allows users to “prescribe” a number of different possible actions and guide them towards
a solution. • In a nutshell, these analytics are all about providing advice. • attempts to
quantify the effect of future decisions in order to advise on possible outcomes before the
decisions are actually made. • predicts not only what will happen, but also why it will
happen, providing recommendations regarding actions that will take advantage of the
predictions. • These analytics go beyond descriptive and predictive analytics by
recommending one or more possible courses of action. • Essentially they predict multiple
futures and allow companies to assess a number of possible outcomes based upon their
actions. • uses a combination of techniques and tools such as business rules, algorithms,
machine learning and computational modelling procedures. • These techniques are
applied against input from many different data sets including historical data, real-time
data feeds, and big data. • Used to optimize production, scheduling and inventory in the
supply chain to make sure they are delivering the right products at the right time and
optimizing the customer experience.
5.Cognitive analytics
Cognitive analytics is a field of analytics that tries to mimic the human brain by drawing
inferences from existing data and patterns, draws conclusions based on existing knowledge
bases and then inserts this back into the knowledge base for future inferences - a self-learning
feedback loop. • Data Analytics has evolved over the years from Descriptive (what has
happened) to Diagnostic (why did it happen) to Predictive (what could happen) to
Prescriptive (what action could be taken). • The next big paradigm shift will be towards
Cognitive Analytics which will exploit the massive advances in High Performance
Computing by combining advanced Artificial Intelligence and Machine Learning techniques
with data analytics approaches. • Cognitive Analytics applies human-like intelligence to
certain tasks, and brings together a number of intelligent technologies, including semantics,
artificial intelligence algorithms, deep learning and machine learning. Applying such
techniques, a cognitive application can get smarter and more effective over time by learning
from its interactions with data and with humans. • Benefits: opening up opportunities to mine
untapped data sources; provide highly personalised services; improve service consistency and
quality; and enhance and amplify knowledge sharing.
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UNIT 6: CONVERTING SENTIMENT AND OPINION DATA TO INSIGHTS

Consumer insight

-A customer insight, or consumer insight, is an interpretation of trends in human behaviours

which aims to increase the effectiveness of a product or service for the consumer, as well as
increase sales for the financial benefit of those provisioning the product or service.
-Customer analytics refers to the processes and technologies that give organizations the
customer insight necessary to deliver offers that are anticipated, relevant and timely.
Data visualization
Data visualization is the graphical representation of information and data. By using visual
elements like charts, graphs, and maps, data visualization tools provide an accessible way to
see and understand trends, outliers, and patterns in data. This is important because it allows
trends and patterns to be more easily seen
There are two basic types of data visualisation:
• exploration, which helps find a story the data is telling us, and
• explanation, which tells a story to an audience
Why Use a Word Cloud Generator
These are an unexpected yet powerful way to display important data visualizations
1. Understanding Client Issues
• Customer satisfaction levels are analyzed using: polls and surveys, social media posts and
more, your audience is talking about your brand.
• when we create a word cloud with customer feedback, we can quickly visualize what
everyone is talking about.
• For eg., some phrases such as “wait time” or “attitude” appear to dominate the cloud. This
can reveal customers’ pain points.
• Or, we may come across positive terms such as “affordable” and “customer service”
towering over others, revealing what we’re doing right.
• Either way, we’ll know which topics to focus on for better result
2. Quickening Business Action
• a word cloud generator can help to convert a 50-page long report into a comprehendible
information
3. Analysing Employee Sentiment
• When we ask employees to share their feedback and opinions about the workplace,
• It can be difficult to turn this kind of unstructured data into meaningful • This is where word
cloud visualizations can help.
• When we’re able to see which points your employees are discussing at the highest rate,
we’ll know how to make valuable and meaningful changes that can boost morale, strengthen
company culture, and improve performance.
4. Simplifying Technical Data
• For presenting highly technical researching findings to a non-technical audience- to avoid
blank stares
• Word cloud enables to share the same findings in a more accessible and engaging way.
• This expands our reach and enables to share important information in a way that doesn’t
require advanced technical understanding.
5. Searching for Patterns in Data
• Quantitative data, charts, graphs, and other data visualizations can help identify key
patterns. • These would be difficult to find in a tabular format, but they pop out in a word
cloud.
6. Search Engine Optimization
• We have a good basic grasp on the kinds of keywords that your target audience wants to
see. • We might even use a keyword generator to find the most popular ones in your industry
niche. • We can use a word cloud generator to see how our content appears to Google bots
and similar machines.• it helps us see the general message that our page conveys.
Semiotics
What is Semiotics? • it is the study of signs. • ‘signs’ in everyday life, such as road signs,
religious signs and public utility signs. • ‘visual signs- drawings, paintings and photographs. •
includes words, sounds and ‘body language’.
Media Semiotics
• Suggested reading: • Semiotic analysis of the Facebook postings of grade 11 learners via
syntax and semantics