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Dynamic Demand Forecasting in the Covid World

The COVID-19 crisis has upended lives across the globe. Safety concerns, travel restrictions, store and workplace closures, and an uncertainty about the future have all changed consumer behaviour suddenly and without much warning. In a matter of weeks, we have witnessed huge shifts in how consumers spend their time and money, and what they value personally, as we all adapt to the crisis. As people began spending more time at home, categories like household cleaning, personal care, and packaged foods all saw sharp gains. Other ‘non-essential’ categories, like fashion, cosmetics, and appliances, generally saw sales falter. Even categories fortunate enough to see gro...

3 Reasons ‘In-House’ Marketing Effectiveness Measurement is Getting New Love

Marketers use a number of statistical and analytical techniques to measure the effectiveness of their marketing investments, which can cross diverse channels like print, TV, promotions, digital advertising and search marketing. Marketing Mix Modeling (MMM) has long been used by companies across industries such as consumer packaged goods, retail, telecoms, financial services, travel and hospitality, automotive and others to provide a strategic view of how each major investment contributes to sales, profitability and brand growth. With digital marketing budgets growing rapidly in recent years, Multi-Touch Attribution (MTA) has become an increasingly popular alternative. MTA allows marketers to gain a detailed u...

Leveraging AI to Improve Marketing Analytics

Ask 5 people what Artificial Intelligence (AI) is and you will most likely get 5 different answers. Demis Hassabis, the British AI researcher and neuroscientist calls it the science of making machines smart. Simply defined, AI is a set of technologies that helps pull out patterns, trends and insights from huge amounts of data and uses these to make predictions. If you’re thinking that sounds a lot like the definition of predictive analytics, you’d be right! Machine learning (ML), a type of AI most relevant to marketing and analytics practitioners - and which powers some of AI’s most impressive capabilities - uses patterns in data to make predictions, and then uses ...

Lost in Translation: Bridging the Language Gap between Analytics & Brand Practitioners

The most basic definition of communication is that it is the process of passing information and understanding from one person to another. While this sounds simple enough, a pre-requisite for successful communication is that both persons involved speak a common language. Imagine a teacher trying to teach students in a language they do not comprehend. Or a salesman trying to explain the features of his product to someone who neither speaks nor understands the language he is speaking in. These interactions would likely be futile or - at the very least - not entirely satisfactory or productive for either party involved. What’s the point of my little anecdotes about communication and a common language? Simply that we in the marketing analyt...

Is Marketing Mix Modeling Only for Fortune 500 Companies? Think Again.

Marketing Mix Modeling is a technique that was first adopted by large multinational consumer packaged goods companies around the early nineties. It is an analytical approach that looks at the historical relationship between marketing spending and business performance to determine how each marketing activity has impacted performance. It defines the effectiveness of each marketing element like TV advertising, digital advertising, print advertising, pricing discounts and trade promotions etc. in terms of its contribution to sales volume or revenue. Companies then use the results and learnings to adjust their marketing tactics and strategies to drive maximum growth.   Early Adoption Limited to Tier 1 Brands For ma...

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