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When applied to core business functions - both strategic and operational - analytics can generate significant competitive advantage. In the supply chain area, for instance, scientific approaches to decision support have delivered impressive results. Marketing has also embraced analytics, starting with sample-based consumer research and expanding into other areas such as segmentation analysis, brand attitude and brand awareness research. More recently, sophisticated techniques for advertising and promotion effectiveness analysis, price elasticity analysis and media mix optimization have helped marketers optimize their marketing investments.
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