CHAPTER 1 - – Introduction to Data-Driven Decisions CHAPTER 2 – Data ethics – The Age of Surveillance capitalism.

1.Data and Technology trends - Data and the entertainment industry 1.Surveillance capitalism? A new economic order that claims human experience as free raw
Data and the entertainment industry, Data and the sport industry - WYSCOUT material for hidden commercial practices of extraction, prediction, and sales;
Data in music and arts
2.Data Challenges for businesses analytics and analytical methods
Framework –types of dataCRM, marketing mix, privacy and security, personalization 1: The Extraction Imperative e.g.) google, not search only etc..
-> Implementing data and analytics in companies 2: Cornered e.g.) Google describing the world and all in it
Data analytics is the process of examining datasets in order to draw conclusions about the 3: The Dispossession Cycle: 4 stages are
information they contain, increasingly with the aid of specialized systems and software. incursion, dispossession operations rely on their virtual capabilities to kidnap behavioural
Identifying data and analytics needs>> surplus from the nonmarket spaces of everyday life
habituation, : People assimilate to the incursion
Adaptation: When Google is occasionally forced to alter its practices
and redirection: :Google didn’t ask for permission, they ‘datafied’ the world’s public spaces,
streets, buildings, and homes (Google Street View)
The Dogs of Audacity: Google does whatever it wants
Types of analytics Analytics: Decision value
Dispossession Competition: Google, Facebook, Microsoft, Apple, Amazon
Information>insights>decision>action The Siren Song of Surveillance Revenues: More companies trying to get on the revenue stream
Descriptive - Summary statistics and test, metrics, dashboards, visualization of behavioural surplus
Diagnostic - Statistical, econometrics, and psychometric models General Data Protection Regulation
Predictive - Prediction models, machine learning, cognitive systems Digital Services Act - for Companies that offer digital services in the EU – Services that
Prescriptive - Structural models or optimization methods transmit and store data
Data: information value Data Relationship Management (DRM) can be a solution
Types of research 4 key components:
Exploratory Research Descriptive Research Causal Research • Data Invitation “find products faster”
Our sales are declining… What kind of people are Will buyers purchase more • Data Security Centre (give user control – settings etc)
why? buying our products? of our product with a • Data Dialogue continuously have the conversation about data storage
(Ambiguous problem) Who buys our change of our website? • Data Value Proposition “what do we get?”
Resources for correct data implementation. People, process technology

3. Data (structured or unstructured): Information, especially facts or numbers, collected to

be examined.
Big data characteristics 5 Vs – Velocity, Variety, Volume, Veracity and value
Value creation = data as a 1) A tool 2) An industry 3) A strategy
Building Data Strategy: 1.Choose the right data (source data creatively)
2. Building models to predict and optimize business outcome
3. Transforming the organization abilities
Data Dividend Project – get paid for your data
An ethical charter: 1) be transparent about the purpose
2) data must be thoroughly protected from unauthorized access, and not disclosed without
consent
3) Researchers must behave ethically
Four of the biggest issues driving the conversation around data and AI ethics: 1. ‘Privacy
2. Lack of transparency 3. Bias and discrimination 4. Lack of governance and accountability’

CHAPTER 3 - Visual Data Analysis CHAPTER 4 - Understanding the Marketplace

 1.Principles of visual data analysis
The main objective of visual data analysis is to present, navigate, aggregate, and see the
details of the data such that complex questions can be answered.
2. Data visualisation and storytelling
converting raw data into easily understood pictures of information that enable fast and
effective decisions, serves 2 purposes: exploration and communication
Five Ways to Organise Information
Location ⮚. • Alphabet ⮚. • Time ⮚. • Category ⮚ Hierarchy
Histograms and Bar Charts: when one measurable variable is compared across two or
more categories
Line Charts: Most commonly used for time series
Scatterplots: When the relationship between two variables is of interest,
Boxplots: Is often used to display some key descriptive data points
Pie Charts
Tree map
Geographic Chart
When you’re designing the visual communication, form always comes last. – function ->
satisfied goals – flow -> logical storytelling – form -> design
3. Visual analytics
Is a combination of visualization, human factors, and data analysis.
Insight [noun] The capacity to gain an accurate and deep understanding of someone or
something. Source: Oxford Dictionary (the ability to have) a clear, deep, and sometimes
sudden understanding of a complicated problem or situation.
Marketing Insights are fundamental to UNDERSTAND A MARKETPLACE AND IDENTIFY
EMERGING TRENDS in markets and consumer behaviour
Marketing Research ≠ Marketing Insights
Discovery >>> Insights
The process of Marketing Research follows five steps: (1) Research problem or question
formulation, (2) Determination of sources of information and research design, (3) Data
collection method selection, (4) Data collection, (5) Data analysis and interpretation.
Key Sections of a Market Analysis
Industry description and outlook, Target market, Competitive analysis, Distribution channels
Barriers to entry, Regulation
TRENDS : to develop in a general direction
Micro(early influencers 13-2yrs) vs Macro(e.g. wellness boom) trends
The Fundamental Trend Elements
BASIC NEEDS
INNOVATIONS
DRIVERS OF CHANGE
Identifying trends
Weak signals/ Cultural brailing/ Horizon scanning
The Consumer Trend Canvas A tool for generating trend-driven insights and innovations
ANALYSE SECTION: In this section, the chosen trend is unpacked. By looking at real-world
examples (Inspirations), identify the drivers of change, analyse the basic needs the trend taps
into and the emerging expectations it reflects. APPLY SECTION: In this section, identify how,
where and for whom the trend will be applied referring back to the insights generated in the
analyse section.
Shifts are long-term, macro changes that are playing out across years or decades.
Triggers are more immediate changes that drive the emergence of a consumer trend. These can
include specific technologies, political and social events,
How and where could you apply this trend to your business?
Vision, Business model, Product/ Service/ Experience, Marketing
Customer Personas

CHAPTER 5 - Segmentation-Targeting-Positioning (STP) CHAPTER 6 - Customer Journey: Acquisition

MARKET SEGMENT: Group of customers who have similar needs and show similar New Product Development process
behaviour/ lifestyle. MARKET SEGMENTATION: Process that enables to evaluate the - Opportunity identification> -design> -testing> -introduction. > life cycle
attractiveness of each segment (group of consumers) and select those segments that can be management > harvest
served effectively and efficiently. (focus: value and testing its perception) a. The phases b. Measuring Customer Value c. A/B

Ch 8 CONT.
Step 1.1: Select attributes relevant to the product or service category
Step 1.2: Select levels for each attribute
Step 1.3: Develop the product bundles to be evaluated Stage 1 Designing the conjoint
study
Step 2.1: Design a data collection procedure
Step 2.2: Select a computation method for computing part-worth function Stage 2
Obtaining data from a sample of respondents
Step 3.1: Segment customers based on their part-worth functions
Step 3.2: Design market simulations
Step 3.3: Select choice rule
Step 3.4: Adjust market shares to reflect supporting marketing programs
Stage 3 Evaluating product design options
LIMITATIONS of CONJOINT
3. The validity of the analysis depends on the completeness of the set of attributes, but
adding too many attributes leads to response fatigue and hence inaccurate conclusions. 4.
The method is a relatively basic type of technique, and more sophisticated methods such
as choice-based and adaptive conjoint are more efficient.
CHAPTER 7 – Social Listening and Consumer sentiment
analysing the conversations and trends happening not just around the brand, but around the industry
as a whole, and using those insights to make better marketing decisions
Importance of SL
- Customers like when brands res. – Keep track of brand growth
- Discover new opportunities – Boost customer acquisition
Social monitoring (Data driven •
Reactive Responses)
Focuses on the What
1.firm can identify common customer questions,
comments, complaints, demographics and general
sentiment around the brand, and easily share those
insights with the rest of the team. Sentiment
Analysis
2.• Get a sense of the share of the social media
audience. • Understand why their customers may
not be satisfied with their product. • Find the
content they share that outperforms the own. •
Quickly identify the new products or solutions
they are offering.
3.Dynamically adapting to the industry sets you
leaps and bounds ahead of competitors. How? •
Keep an eye on anything disrupting the space that
may impact the organization. • Track key political
and social issues to weigh in on if they’re relevant
to the brand. • Find gaps in the industry that a new
product, solution or workflow could solve. • Look
for frequently asked questions to create content the
audience needs.
4.Brands spend a good deal of their time coming
up with new campaigns to launch, but without
insight into whether or not that campaign
succeeded, they have no information about how to
improve or build upon those efforts. • These
insights can be broken down by: • Network •
Content & Message type • Gender • Age •
Sentiment
4.Listening tactics boost campaign success
dramatically. Thinking through the following
capabilities would serve the purpose for the next
campaign: • Track the impressions and
engagements around the campaign posts. •
Quickly gather general sentiment around specific
campaigns. • Identify the top influencers
discussing the campaigns. • Understand which of
the audience demographic the campaign resonates
with. • Figure out the key themes within the
campaign that are being used and whether those
are positive or negative. • Track collaborative
campaigns from a single source of truth.
Testing
- Helps us to make money to meet costs and reinvest for growth
- Also showers external parties we have traction
Customer acquisition funnel awareness >interest>consideration>intent>evaluation>purchase
Customer Acquisition Cost (CAC)?
cost associated with bringing a new customer or client to your business
-allows you to measure your ROI
CAC = MC(marketing costs) / CA(customers acquired)
3 dimensions of products: Core product – satisfies need/want, tangible product- features,
augmented product-enhancements to tangible.
The Customer Value Equation Value-in-Use - where actors apply available
Value = benefits – costs e.g) Lexus resources to reach their intended (individual
and collective) goals
6000(old cost)=200*3(new costs)xVIU
A/B testing, aka split testing, is when you
“split” your audience to test variations of a
product, benefits incl. Increased web traffic
and conversion rate, lower bounce back and
cart abandonment
Conjoint Analysis
Purchase probability=
utility of A
∑ of utilities of other alternat
Chi-square =
CHAPTER 8 – Customer Journey: Conversion
Typically, organizations group similar products into product lines, and then group
lines of business targeting a common set of customers into something called
Strategic Business Units (SBUs).
Why do we reconsider our offerings, to eliminate or alter product offering that
need work and focus more R&D into products with potential(growing markets).
Social Listening (Insights Driven • Proactive Decisions) Improve competitive positioning
Focuses on the Why
1.SL for brand intelligence
Maximize product investments
2.SL for competitive intelligence Ensure that product investments align with business objectives
3.SL for industry intelligence Identify strong and weak products to clarify resource allocation
4. SL for campaign insights
5. SL content strategy Improve communication and collaboration
6. SL for customer service
7. SL for product research
8. SL for influence marketing Primary research (experimental vs. non-
5.Many 6.By finding the root issues that exp(qualitative and quantitative): Data
marketers look customers have, you create a better
to keyword overall customer service experience collected by the company itself
research to and reduce the number of inbound Secondary research (internal vs. external):
figure out what complaints. • If you experience a spike Data that has already been compiled and is
will get the in messages, dig through the trends in
most traffic in those conversations to see what widely available
Google. • happened. • Work to fix what
Figuring out happened. If the issue is out of the
conversations control, develop a communication
happening on strategy. • Find the most frequently The GE/McKinsey Matrix uses “Industry
social shows used keywords and hashtags receiving
Attractiveness” and “Business Unit Strength” to anchor its X-Y Matrix
the topics complaints. Closely follow the
before they developing narrative. • Share A/B Testing and Conjoint Analysis are the two methods widely used by
even become information internally on the top companies in their process of New Product Development (NPD) for its target
popular, giving locations and demographics. Send
customers
a leg up on messages to help pinpoint issues.
competitors. Conjoint Analysis A method for assessing customers’ preferences for that
decomposes preferences for product bundles into preferences (value) for each
product attribute option (partworths).
7.Social Influencer marketing is the process of
listening promoting and selling products or
Attributes (Features): Brand, Size,
provides a services through individuals capable Levels for Laptops include Brands: Samsung, Concept or profile: The
jumping-off of driving action from your target hypothetical product or offering. Task: The number of times the respondent must
point for audience. • Though influencer
finding marketing isn’t a new concept, it has make a choice.
products or been growing in popularity with the Partworths/Utility values: Partworths, or utility values, are how much weight an
services that the rise of social celebrities. attribute level carries with a respondent. The individual factors that lead to a
customers are
hungry for. • product’s overall value to consumers are partworths. Example partworths for
Track user Laptops Brands: Samsung – 0.11, Dell 0.10, Apple 0.17, and Asus -0.16.
sentiment
Relative importance: Also known as “attribute importance,” this depicts which of
across the
major product the various attributes of a product/service are more or less important when making a
lines. • Track purchasing decision. Example of Laptop Relative Importance: Brand 35%, Price
conversations
around the
30%, Size 15%, Battery Life 15%, and Color 5%. Profiles: Discover the ultimate
major product with the highest utility value.
competitors. • total utility = sum of all partial utilities (“part-worth utilities”)
Track
conversations
across the entire
industry.
CHAPTER 9 – retention and relationship management CHAPTER 10 – predictive analytics – insight to foresight
CRM is the practice of analysing and using marketing databases and leveraging communication technologies to determine Means to estimate an unknown value
corporate practices and methods that maximize the lifetime value of each customer of the firm
CLV – customer lifetime value is the PV of future net cash flows of a customer. Its forward looking and predictive. The
Will it happen? When and how?
key point is that for most companies a customer value does not originate only from the current transaction but also from the Time Series • Definition: A series of data points over time where the observed variable (such as sales) is the
opportunity of repurchase (loyalty). CVL Analytics y-variable, and time is the x-variable
1) Traditional (market share and sales growth)
2) Customer acquisition (Acquisition rate and cost)
3) Customer activity( Ave. inter purchase time, retention, survival rate, lifetime value
Evaluating a predictive model
Logistic regression
– Forecasting: How large a boost in revenue, sales or profit will that model produce? => Managerial significance –
Accuracy: How well does it predict, how often is it correct, and how much better is it than standard/more traditional Buy till you die - Repeat behaviour of individuals in a non-contractual setting.
techniques? => statistical significance Machine learning -data mining – classification and regression tree
Algorithm of CART