Marketing Analytics Quiz
1 Chapters 1-3 | Study
Guide, Practice Questions
& Exam Review
|Guaranteed success|
, Terms in this set (62)
Plano Home Sales Market: Why would the median - because the median doesn't change
home sales prices be reported and not the average or
mean?
Marketing Analytics The process of evaluating and interpreting marketing data to make informed
business decisions often involves the use of statistical methods and technology.
- more than crunching numbers
- uses questions, patterns, metrics, and data visualization tools to generate
informed business decisions that tie back to the story and recommendations
Analytics in Digital Marketing The application of data analysis techniques to understand and optimize digital
marketing strategies and campaigns.
- used by marketing managers and Director of marketing
Internal Data - Information generated within the organization, such as sales figures and
customer data, used for marketing analysis.
- information you have available in the org. that can make big changes to be
profitable
External Data Data obtained from sources outside the organization, such as vendors, social
media platforms, and data brokerages that you can BUY.
Key Performance Indicators (KPIs) Any value that indicates the performance of an organization or activity.
- ex: sales
- KPI is not a number, it is the thing the numbers measure
Quantitative Data Data based on by-numbers
- such as sales figures, website visits, and Email opens used for predictive
modeling.
Predictive Modeling - predicts future success indicators
- used in sports like baseball
Qualitative Data - Non-numeric data in the form of text, images, or videos, providing deeper
insights and context for marketing decisions.
- ex: Social media posts, customer reviews, Hyundai focus groups
4 Ps of Marketing Product, Place, Price, and Promotion, that provides recommendations on how
you can improve your products
Return on Investment (ROI) The percentage of return an organization sees from its investment in an activity,
such as marketing
1 Chapters 1-3 | Study
Guide, Practice Questions
& Exam Review
|Guaranteed success|
, Terms in this set (62)
Plano Home Sales Market: Why would the median - because the median doesn't change
home sales prices be reported and not the average or
mean?
Marketing Analytics The process of evaluating and interpreting marketing data to make informed
business decisions often involves the use of statistical methods and technology.
- more than crunching numbers
- uses questions, patterns, metrics, and data visualization tools to generate
informed business decisions that tie back to the story and recommendations
Analytics in Digital Marketing The application of data analysis techniques to understand and optimize digital
marketing strategies and campaigns.
- used by marketing managers and Director of marketing
Internal Data - Information generated within the organization, such as sales figures and
customer data, used for marketing analysis.
- information you have available in the org. that can make big changes to be
profitable
External Data Data obtained from sources outside the organization, such as vendors, social
media platforms, and data brokerages that you can BUY.
Key Performance Indicators (KPIs) Any value that indicates the performance of an organization or activity.
- ex: sales
- KPI is not a number, it is the thing the numbers measure
Quantitative Data Data based on by-numbers
- such as sales figures, website visits, and Email opens used for predictive
modeling.
Predictive Modeling - predicts future success indicators
- used in sports like baseball
Qualitative Data - Non-numeric data in the form of text, images, or videos, providing deeper
insights and context for marketing decisions.
- ex: Social media posts, customer reviews, Hyundai focus groups
4 Ps of Marketing Product, Place, Price, and Promotion, that provides recommendations on how
you can improve your products
Return on Investment (ROI) The percentage of return an organization sees from its investment in an activity,
such as marketing
