1. Introduction

Question 1

Potential pitfalls

Accepted Answer

Inappropiate tools and methods Confirmation bias Data Quality and understanding Data processing and matching Data sampling predictions and overfittig

Question 2

Common challenges of BCA?

Accepted Answer

Culture Disconnect between departments Relevant data Intangible metrics Speed vs. quality Knowing the why Analytics for B2B firms Risk-averse decisions

Question 3

Benefits from BCA for customers

Accepted Answer

Reducing search costs Personalized recommendation Avoiding bad outcomes

Question 4

Possible Achievements with BCA?

Accepted Answer

Understanding customer profiles Boosting customer engagement and lead generation Reducing customer dissatisfaction Predicting future demand Predicting customer churn

Question 5

What does a prescriptive model focus on? Name an example

Accepted Answer

Recommending optimal decisions or strategies. A/B Testing

Question 6

What does a predictive model focus on? Name an example

Accepted Answer

Forecasting future events and trend. Machine Learning algorithms

Question 7

What does a descriptive model focus on? Name an example

Accepted Answer

Summarizing and explaining past data. Clustering

Question 8

What are the types of analytical models?

Accepted Answer

Descriptive predictive prescriptive

Question 9

What is BCA?

Accepted Answer

Process of collecting and analyzing dataset related to brands and customers in a systematic way to draw conclusion on marketing strategies and improve business outcomes with the help of analytical tools ad techniques

Question 10

Jobs und BCA and what job is important for us?

Accepted Answer

Data Analyst Data translator Analystin director

Question 11

What does brand and customer analytics consist of?

Accepted Answer

Marketing knowledge + Analytical and Statistical Skills + Programming skills

Question 12

How can we transform data into action?

Accepted Answer

Data -> Cloud Storage -> Analytic Models -> Insights -> Action (Feedback for Data)

Question 13

What is face validity?

Accepted Answer

Model aligns with prior belief or intuition regarding the direction of change

Question 14

What is Quantification?

Accepted Answer

Model precisely indicates the extent to which one should increase or decrease each marketing action

Question 15

What is Quantitative Intuition ?

Accepted Answer

Effective decision-making calls for human intuition to join forces with data instead of replacing it.

1. Introduction

Recommended flashcard sets

2a. Survey Design & Testing

3a. Customer Segmentation

6. Text Mining

7. Machine Learning Applications and Image Classification

3b. Attribution Modelling

4. User Generated Content

2b. Marketing Experiments and Causality

5. Customer Mindset Metrics

1. Introduction

Lecture 1 - Introduction

Chapter 1: Introduction

Lecture 1: Introduction

Topic 1 - Introduction

Chapter 1: Introduction

Week 1 - Introduction

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1. Introduction

2a. Survey Design &amp; Testing

3a. Customer Segmentation

6. Text Mining

7. Machine Learning Applications and Image Classification

3b. Attribution Modelling

4. User Generated Content

2b. Marketing Experiments and Causality

5. Customer Mindset Metrics

1. Introduction

Lecture 1 - Introduction

Chapter 1: Introduction

Lecture 1: Introduction

Topic 1 - Introduction

Chapter 1: Introduction

Week 1 - Introduction

Haven't started (15)

2a. Survey Design & Testing