Thalasar Ventures

Those with a thing for statistics and mathematics will find marketing research analytics interesting. Some of them even use it when they go and work for online market research firms. Those who don’t wonder what these are. They certainly are not rocket science but are beyond the levels of comprehension of the common man.

Tabulations describe a very different angle of marketing research analytics. Some of the work done via this aspect of analytics includes managing ad-hoc studies and large tracking studies. Trending, data conversion to SPSS and SAS, multi country tracking, concept testing, product usage tests, attitude and usage studies, price sensitivity tests, brand tracks, fast turnaround omnibus etc. are certain things tried out.  

Coding is another aspect. Open ended coding is a part of it. Online market research firms consider first mentions, multiple mentions, verbatim aggressions and list coding while working on these factors.  

Data recording and reclassification are two other aspects. These put a finishing touch to marketing research analytics. Query strings are coded and extracted. Online market research firms do dictionary formatting and URL classification into various levels.

Online market research firms do a lot of domain based analytics. They use marketing research analytics judiciously. For brand and consumer analytics, they use techniques like category and market evolution, customer response modeling, actionable segmentation, targeting and profiling, portfolio mapping and optimization.  

Marketing research analytics used for CRM analytics include campaign management (design, execution and ROI analysis), response modeling (acquisition, cross-sell and up sell analytics), loyalty management and customer lifetime value analysis and retention modeling.  

For modeling and calibration, methods such as market mix modeling, collections analytics and delinquency modeling, fraud analytics, value risk modeling, risk based pricing, marketing ROI optimization, volume forecasting etc. suffice for the job. Finally, web based analytics is completed via online traffic analysis, path and conversion analysis, text mining and buzz analytics.

Marketing research analytics used in company and industry research include detailed company profiles and analysis, tear sheets, SWOT, value chain analysis, stock and shareholding analysis, industry benchmarking, industrial and sector reports etc. Techniques used in business intelligence include market entry strategy, country reports, trend analysis, competitive landscaping, economy studies and demographic profiling.  

Online market research firms use pitch book support, comparables, precedent transactions, benchmarking, LBO models, financial analysis and valuations in Corporate Finance and M&A Support. Financial models and forecasting, valuation models and investment memos and earnings summaries are remitted in Equity and Fixed Income Research.  

These are certain details about analytics one ought to know from closer quarters. This is a set of highly complicated techniques one ought to use judiciously. As mentioned earlier, these techniques are applicable to most of the verticals. So for every vertical, their usage varies.

Finally, it is important to know the benefits of these tools. The use of analytics helps solve various complicated business related tasks including strategic decision making, credit scoring, behavioral scoring, pricing and valuation, segmentation, response modeling, predicting customer behavior, product tracking, price point analysis, redefining customer segments, reducing attrition, enhanced ROIs etc.    

These details would help understand the core content of these tools.

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