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Marketing Analytics: A Practical Guide to Real Marketing Science, by Mike Grigsby
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Mike Grigsby provides business analysts and marketers with the marketing science understanding and techniques they need to solve real-world marketing challenges, such as�pulling a targeted list, segmenting data,�testing campaign effectiveness, and forecasting demand.
Assuming no prior knowledge,�Marketing Analytics�introduces concepts relating to statistics, marketing strategy, and consumer behavior and then works through a series of problems by providing various data modeling options as solutions. By using this format of presenting a problem and multiple ways to solve it, this book both�makes marketing science accessible to beginners and aids the more experienced practitioner in understanding�the more complex aspects of data analytics to refine their skills and compete more effectively in the workplace.
- Sales Rank: #201046 in Books
- Published on: 2015-06-28
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x .47" w x 6.00" l, .84 pounds
- Binding: Paperback
- 248 pages
Review
"I strongly recommend Marketing Analytics to both beginners and folks who don't have much background in statistics.� A very precise book.��Complicated topics around statistics, marketing and modelling are condensed very well in a much-simplified language, along with real-world examples and business cases, which makes it amusing to read and gives clear understanding about applications of the concepts.��The books sets the ground with exactly what one needs to know from statistics as well as marketing, and runs through how these two, coupled with analytics, can help solve real-world business problems.� Later, it also covers Market Research topics and concludes with the Capstone, covering application of all the methodologies to Digital Analytics.��I�believe that Marketing Analytics will be a handy reference or manual for students as well as marketing analytics professionals." (Sasmit Khokale Analytics Practitioner)
"This is an excellent read for people in the industry who work in strategy and marketing.��This is one of the first books that I have read that covers the entire spectrum from demand, segmentation, targeting, and how results can be calculated.� In an age where marketing is becoming more and more sophisticated, this book provides the tools and the mathematics behind the facts.� Marketing Analytics is written with a scientific voice, but was very readable, with the science wrapped into everyday activities, based on a character we can all relate to, that are derived from these formulas, ultimately driving ROI." (Elizabeth Johnson VP, Shopper Marketing-Digital Solutions Retailigence)
"I found Marketing Analytics interesting and easy to comprehend.��It has lucid descriptions along with the illustrations, which complement the text.��Even a layman can understand, as there is no jargon or technical language used."
(Sunpreet Kaur Sahni Assistant Professor, GNIMT)
"Mike's book is the right blend of theory applied to the real world, large-scale data problems of marketing.��It's exactly the book I wish I'd had when I started out in this field." (Jeff Weiner Sr. Director, Channel and Employee Analytics-US Region, Aimia)
"For those MBAs who barely passed their quantitative marketing and statistics classes without truly understanding the content, Marketing Analytics provides everything managers and executives need to know presented as a conversation with examples to boot! You'll definitely sound smarter in the boardroom after reading this book!" (James Mourey, PhD and Assistant Professor of Marketing DePaul University)
"In one sentence, the role of marketing is to determine who the organization can serve and how it can best be done.��To this end, Mike Grigsby escorts the reader through the difficult process of understanding, explaining, and anticipating customer behaviour, aptly delivered with the no-nonsense authority earned by veterans of marketing success.� If Marketing Analytics is the class, I'm sitting front row!" (Allyn White PhD)
"This book gives a broad overview of marketing analytics to people who don't have any related background....[E]xamples are explained to give readers a clearer idea. I think the book is worth a read for anyone who wants to become a marketing analyst." (Yuan Fang MSc (Marketing Analytics candidate))
"Offers a truly accessible guide to the basics and practice of marketing analytics." (Koen Pauwels, Professor of Marketing at Ozyegin University, Istanbul and Honorary Professor at the University of Groningen)
"Marketing Analytics is a must-read for analytics practitioners and marketing managers seeking a comprehensive overview of the most actionable techniques that virtually any organization can apply to gain immediate benefits.... Dr. Grigsby succinctly illustrates the concepts with real examples and provide references for analysts needing deeper guidance or theory. I wish Marketing Analytics was published 15 years ago - it would've saved me a lot of independent research!" (W. Dean Vogt, Jr. Marketing Research and Analytics Practitioner)
"Marketing Analytics is a practical guidebook written in a conversational tone that makes complex theories easily understood. The author's experience in the industry combined with his inherent gift for explaining everything a successful marketing analyst needs to know makes this book a must-read." (Katy Richardson Founder and Principal, 214 Creative)
"In his book Marketing Analytics, Mike Grigsby takes passionate marketing strategists on a practical, real-life journey for solving common marketing challenges.� By combining the concepts and knowledge areas of statistics, marketing strategy and consumer behaviour, Mike recommends scientific and innovative solutions to common marketing problems in the current business environment.� Every chapter is an interesting journey for the reader.
What I like most about the book is its simplicity and how it applies to real work-related situations in which almost all of us have been involved while practising marketing of any sort.��I also like how Mike talks about tangible measurements of strategic recommended marketing solutions as well as how they add value to companies' strategic endeavours.� I highly recommend reading this book as it adds a completely new dimension to marketing science." (Kristina Domazetoska Project Manager and Implementation Consultant, Insala)
"Marketing Analytics is a good resource for someone who has just started out in analytics or has interest in marketing analytics. The introduction to the theory and concept behind using a particular technique to solve a specific problem helps the reader better understand the application of statistical methods. The detailed business cases, explained in story form help see the real-world example of the analytical model adopted for the problem." (Prasanna Bidkar Right Mix Technologies)
About the Author
Mike Grigsby has been involved in marketing science for over 25 years. He was marketing research director at Millward Brown and has held leadership positions at Hewlett-Packard and the Gap. With a wealth of practitioner experience at the forefront of marketing science and data analytics, he now heads up the strategic retail analysis practice at Targetbase. He�is also known for his academic work, having written articles for academic and trade journals, and currently teaches�at the University of Texas at Dallas.�He is a regular speaker at trade conventions and seminars.
Most helpful customer reviews
5 of 6 people found the following review helpful.
Ok for learning about marketing, but author's knowlege of statistics seems poor
By Amazon Customer
I have a statistics background and am about to start a marketing job, so wanted to learn about how stats are applied to marketing. While the book helped me in this respect, the author's stats understanding seemed surprisingly poor. Couple of examples: (1) he describes 'unsupervised learning' as techniques where the analyst has no input into the algorithm, versus 'supervised learning' as techniques where the analyst has input (in reality unsupervised learning just means no response variable gets specified - this is pretty basic stuff). (2) he explains that marketing analytics is about 'quantifying causality', and that 'he doesn't want to hear that correlation is not causality'. Wow, that is bad advice. Very few of the techniques he describes do any more that modelling correlations, and anyone using them should *always* have in the back of their mind that 'correlation does not imply causation'.
These are two examples of bad/misleading advice from a book that had many more.
If you know about stats and can take his statistical advice with a grain of salt, then this book is ok for learning about how to apply stats to marketing problems (although you would do far better to read the less concise but far more informative 'Data Science for Business' by Provost and Fawcett). If you don't know about stats then this book is a risky way to learn. You'll end up learning some misinformation along the way.
1 of 1 people found the following review helpful.
A great resource that will be used over and over again.
By Chantal Bechervaise
As someone who loves social media and runs my own blog with no prior marketing experience, I found this book to be a valuable tool in understanding the fundamentals of marketing. I was pleasantly surprised at how easy this book was to read and understand. I also liked the examples provided to measure your marketing efforts. A great resource that I will be using again and again.
0 of 0 people found the following review helpful.
Very good
By Autamme_dot_com
Oh, what a book! So much is crammed inside something so small, providing a great overview to the marketing newcomer and an aide memoire (or more) to the experienced executive – a real cramming guide to marketing analytics and marketing science no less.
Think of this book as a tasting menu at a high-end restaurant. Statistics, consumer behaviour, modelling and analysis, targeting, purchasing strategies, relationships, segmentation, marketing research, analytics … the list goes on.
Lots of tools to deploy when you face real-world marketing challenges, a quick how-to guide and for those who are a little older, an embarrassment-free way of gaining current knowledge without admitting you might be a tad rusty. The author has managed to balance the needs of both beginner and more experienced marketing pro at the same time, serving up an accessible, refreshing read that neither patronises or bamboozles. The book draws you in and the author was responsible for a unplanned splashing of coffee as this reviewer snorted at some of the humour (“Marketing science is not an oxymoron (like military intelligence, happily married or jumbo shrimp) but is a necessary (although not sufficient) part of marketing strategy”). You can sense the author was probably enjoying himself when writing this book, coming across as a razor-sharp sort of guy who you would not object being “trapped” next to at one of those interminable conference luncheons.
The price, considering what you are getting, is a steal. It is one of those books that you can read several times, building on your knowledge as you go on; dipping in and out as needed or taking a longer, sequential read. A detailed index ably assists the book’s “quick-reference” function for the times when you’ve forgotten the difference between mean, medium and mode or how to pull out data from your analytical modelling structure.
This is a book that will find and retain a place on this reviewer’s shelf; it might not be consulted daily but like a safety belt in your car, it can be a comfort to know that it is there, protecting you, just in case…
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