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Advanced Customer Analytics: Targeting, Valuing, Segmenting and Loyalty Techniques (Marketing Science), by Mike Grigsby
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Advanced Customer Analytics provides a clear guide to the specific analytical challenges faced by the retail sector. The book covers the nature and scale of data obtained in transactions, relative proximity to the consumer and the need to monitor customer behaviour across multiple channels. The book advocates a category management approach, taking into account the need to understand the consumer mindset through elasticity modelling and discount strategies, as well as targeted marketing and loyalty design.
A practical, no-nonsense approach to complex scenarios is taken throughout, breaking down tasks into easily digestible steps. The use of a fictional retail analyst 'Scott' helps to provide accessible examples of practice. Advanced Customer Analytics does not skirt around the complexities of this subject but offers conceptual support to steer retail marketers towards making the right choices for analysing their data.
- Sales Rank: #352873 in Books
- Published on: 2016-10-28
- Original language: English
- Number of items: 1
- Dimensions: 9.21" h x .55" w x 6.18" l, .0 pounds
- Binding: Paperback
- 264 pages
Review
"Advanced Customer Analytics provides a great introduction into the main analytical tools marketing managers should be familiar with these days. Starting from regression analysis the book gradually covers more sophisticated methods including time series models, survival analysis, TOBIT models and structural equation models. What makes this book special is the easy to understand way in which these methods are explained and applied to problems marketing managers face every day. This makes this book great for practitioners as well as for readers interested in learning applied statistics. I strongly recommend this book to anyone interested in data-based marketing decision making." (Michael Haenlein, Professor, ESCP Europe)
"Mikes style of writing is easy and right to the point. In Advanced Customer Analytics Mike adds specific math and statistics examples that are relevant and easy to follow. If you want to step up your analytics understanding this book is for you." (Emmett Cox SVP Customer Intelligence at BBVA Compass and author of Retail Analytics)
"Mike Grigsby, the author of Marketing Analytics, takes a critical and in-depth look at the issues underpinning customer analytics. The book provides a fresh and comprehensible view on the complex issue of advanced customer analytics. Starting from the basics of regression and factor analysis he quickly moves to what is essential in business and marketing i.e. purchasing, order of purchases, pricing and discounts, allocation of marcom, bundling, category management and CLV. The book is full of practical examples from retailing industry and more importantly he shows how the analysis is actually done. If you want to deepen your knowledge of customer focused analytics this is the book to read!" (Jari Salo (D.Sc.), Professor of Marketing (Digital Business and Marketing) at the Oulu Business School)
"I would highly recommend Advanced Customer Analytics. The book is well written and will become your favourite go-to reference. The examples given throughout are typical day-to-day problems that arise within the marketing analytics field and could be easily translated into other fields as well. The book reads as though Mike is right there with you baring his brains and humour on a topic that needs both. Mike explains even the most complicated concepts in an easy to understand and logical manner with many examples." (Susan Martin, Senior Analyst and Big Data Guru)
"Written from a practice viewpoint, Advanced Customer Analytics is an engaging and easy-to-read book that would interest students and practitioners attentive to research and, more specifically, retailing. The book is conceptually substantial and serves as a practical guide to understanding and applying retail analytics. A particular strength of the book is the application to relevant industry issues facing large retailers today (such as Wal-Mart, Sears, Macys, Kohls, etc.) as more and more companies are facing downsizing and restructuring pressures." (Dr Candice R. Hollenbeck, Ph.D., University of Georgia, Terry College of Business)
"Advanced Customer Analytics gives an in-depth focus on how to communicate with your customers scientifically and effectively using statistics and predictive modeling." (Cai Chen, E-commerce and Digital Marketing Analytics Practitioner)
"An approachable and enjoyable read... the business cases are just outright fun." (Jehoshua Eliashberg, Sebastian S. Kresge Professor of Marketing and Professor of Operations, Information, and Decisions, The Wharton School)
"Mike has once again presented complex marketing concepts such that the newcomers to the field will appreciate the fundamental rationale economics plays in doing good market research. The reader is guided through the appropriate use of many popular statistical procedures to address basic marketing concerns. Mike's "no nonsense" (albeit at times humorous) interpretation of statistical output provides an excellent template to help more seasoned marketing analysts explain their work. At the very least, the reader will be treated to a very entertaining discussion of the making of marketing analytics. I highly recommend Advanced Customer Analytics." (Derek Glatz, Senior Pricing Analyst, Loewe-Adler International Inc.)
"Advanced Customer Analytics provides a serious but accessible tool kit for the aspiring retail leader." (Michael Beverland, Professor of Marketing, School of Economics, Finance and Marketing)
"We are in the midst of digital business and society transformation. Also known as the real time digital economy. Marketers past, present and future need to understand this world and how it will influence clients, customers and how analytics will optimize messaging for decision makers from all professional backgrounds. Mike Grigsby has been at the genesis of this tipping point for quite some time and has captured many great methods and experiences to set you on this journey." (Tony Hamilton, Solution and Best Practices Consultant at Planet Analytics)
"This book is an extremely useful resource which gives a wide overview on the targeting, segmenting and building, and measuring customer loyalty in retailing. The book presents a practical application of traditional techniques applied to different kinds of non-traditional data, helping practitioners to understand the basics of marketing analytics in retail." (Prof. Lina Anastassova, PhD, Head of Marketing Chair, Burgas Free University, Bulgaria)
About the Author
Mike Grigsby has been involved in marketing science for more than 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 experience at the forefront of marketing science and analytics, he now heads up the strategic retail analysis practice at Targetbase. Mike is also known for academic work, having written articles for academic and trade journals and taught at graduate and undergraduate levels. He is a regular speaker at trade conventions and seminars.
Most helpful customer reviews
2 of 2 people found the following review helpful.
VG
By Autamme_dot_com
This is a fairly specialised book, seeking to provide a clear guide to the customer analytical challenges that are faced by retail companies who may wish to target, segment and exploit their customer base.
It seems to achieve what it sets out to do, providing an informative, authoritative and quite accessible guide in the process. The area is quite complex, changing and challenging, so anything that can help marshal one’s thoughts and guide through this area can be very appreciated. If you are not already looking into customer analytics, it can possibly inspire you into considering this for your company’s operations too.
Despite it being a fairly complex subject with so many variables and areas of consideration, the author has done a good job in making this fairly readable, understandable and modular. It is not dumbed-down and delivers key information in a format you can consume at your own pace.
Looking through the book, it was good that the author took up many matters such as how unique data can be and how it may be used, assuming that there is demand now as well as considering what future demand may be. The definition of a retailer is kept very tight; so that Apple is still a manufacturer despite having retail stores and an online presence as, to quote the wonderful phrase used by the author, it does not “waltz the double-edged dance of the cost of supply and factor inputs that traditional retailers tango with.”
Warning! If mathematics can make your head spin, you may need to prepare for a shock or two or drag in a colleague. It got very figures-heavy without warning… It might have been nice to have a little more hand-holding and explanation around the figures for those who are more of a “words person”.
A thought-provoking book that may help you see the wood between the trees.
0 of 0 people found the following review helpful.
this was better than his last book
By grey2m
this was better than his last book! a little deeper, a little wider--still accessible. he thinks he's soooo funny. but i like the passion that he promotes in that analytics matter, that analytics is important. we need more of this!
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