by Abena Foreman-Trice
In the new world of "big data" marketers must sift through
mountains of information to decide how they will attract customers.
How can they target the best data to make the best decisions?
Practitioners and students of marketing analytics courses have a
new resource to help them determine which marketing actions matter
most and how to analyze consumer data to identify the optimal
allocation of their marketing resources.
The book Cutting-Edge Marketing Analytics: Real-World Cases and Datasets for Hands-on Learning by University of Virginia Darden School of Business Professors Rajkumar Venkatesan, Paul Farris and Ronald T. Wilcox puts forth analytics as the engine that
enables managers to harness big data to better predict the outcomes
of their business and marketing efforts.
"Marketing as a discipline has become more science than art,"
said Venkatesan. "Our new book helps practitioners and students
learn how to understand the science behind the numbers as well as
the nuances. Readers will be able to take a practical approach to
balancing access to large amounts of data with the more nuanced
needs of management."
Why This Book Is Different
A key differentiator is the book's real-life case studies that
give readers a hands-on approach to working with analysis, while
emphasizing all three aspects of marketing analytics: statistical
analysis, experiments and managerial
"The majority of our cases come from real companies. They aren't
disguised or fictitious," said Venkatesan. "Cases focused on real
companies enhance the richness of class discussion and students'
ability to appreciate the contextual factors that go into a
managerial decision beyond analytics."
Readers of Cutting-Edge Marketing Analytics will
- Understanding of the importance of marketing analytics for the
futuristic and systematic allocation of marketing resources
- Knowledge of how to use analytics to develop predictive
marketing dashboards for an organization
- Insight on the biases inherent to analytics triggered by
secondary data, the cost-benefit tradeoffs in analytics, and the
balance between analysis and intuition
- The ability to conduct data analysis through linear regression,
logistic regression, cluster analysis and analysis of variance
models to address strategic marketing challenges
Features of the book include:
- Chapters and case studies will emphasize intuition and logic.
Professionals with a basic understanding of statistics will be able
to implement the analytics techniques.
Also, Executive Education courses expand upon Darden's resources aimed at
helping today's marketers build and maintain enduring brands.
Venkatesan co-teaches the upcoming programs Strategic Marketing Management, from 22 to 26 September, and Strategic Marketing Analytics, from 10 to 13 November. The
target audience is mid- and senior-level marketing executives.
About the Darden School of Business
The University of Virginia Darden School of Business is
one of the world's leading business schools, offering MBA, Ph.D.
and Executive Education programs. The unique Darden experience
combines the case study method, top-ranked faculty whose research
advances global managerial practice and business education, and a
tight-knit learning environment to develop responsible and complete
leaders who are ready to make an impact.
Director of Media Relations
Darden School of Business
University of Virginia
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