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New Methods of Market Research and Analysis

G. Scott Erickson

New Methods of Market Research and Analysis prepares readers for the new reality posed by big data and marketing analytics. While connecting to traditional research approaches such as surveys and focus groups, this book shows how new technologies and new analytical capabilities are rapidly changing the way marketers obtain and process their information. In particular, the prevalence of big data systems always monitoring key performance indicators, trends toward more research using observation or observation and communication together, new technologies such as mobile, apps, geo-locators, and others, as well as the deep analytics allowed by cheap data processing and storage are all covered and placed in context. This book can be used as a supplement to a traditional marketing research text or on its own.
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Chapter 7: Analytics 2: marketing analytics

G. Scott Erickson

Extract

Chapter 7 explains new analytic techniques designed to study and obtain insights from big data basics. It covers linear regression concepts, decision trees and clustering analysis, the first two tied specifically to predictive analytics. Each is illustrated with the SAS Visual Analytics software and large data sets, explaining what the software is doing and what the results mean. All are then tied back to practical examples in previous chapters.

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