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Marketing Analytics For Retail Business Management
Retail analytics using MS Excel – Covering
Forecasting, Market Basket, RFM, Customer Valuation & Price Bundling
What you’ll learn
- Become proficient in using powerful tools such as excel solver to create forecasting models
- Learn how to estimate the trend and seasonal aspects of sales
- Perform market basket analysis and calculate lift to derive a store layout that maximizes sales from complementary products
- Understand how to interpret the result of Linear Regression model and translate them into actionable insight
- Learn practical concepts of how to get revenue/profit optimized price point in case of Bundle products.
- Learn why cable companies bundle landlines, cell phone service, TV service, and Internet service (Bundling)
- Perform RFM (Recency, frequency, and monetary value) analysis to help you maximize profit from promotional mail campaigns.
- Learn to calculate customers lifetime value under different scenarios and use it to increase the companys profitability.
- Incorporate the impact of discount rate and retention rate to calculate customer value
Requirements
- You will need a PC with any version of Excel installed in it
- Basic understanding of Excel operations like opening, closing and saving a file
Description
You’re looking for a complete course on understanding Retail Analytics to drive business decisions involving production schedules, inventory management, promotional mail optimization, store layouting, estimating roght bundle price, customer valuation and many other parts of the business., right?
You’ve found the right Marketing & Retail Analytics: Strategies & Models in Excel! This course teaches you everything you need to know about different forecasting models, Market Basket analysis, RFM (recency, frequency, monetary) analysis, Customer Valuation methods & Price Bundling analysis and how to implement these models in Excel using advanced excel tool.
After completing this course you will be able to:
- Implement forecasting models such as simple linear, simple multiple regression, Additive and multiplicative trend and seasonality model and many more.
- Perform market basket analysis and calculate lift to derive a store layout that maximizes sales from complementary products.
- Do RFM (Recency, frequency, and monetary value) analysis to help you maximize profit from promotional mail campaigns.
- Increase revenue/profit of your firm by implementing revenue / profit maximizing bundle price point using Excel solver Add-in
- Understand the value of your customers to make intelligent decisions on how to spend money acquiring them
- Confidently practice, discuss and understand different retail analytics models used by organizations
How this course will help you?
A Verifiable Certificate of Completion is presented to all students who undertake this Marketing & Retail Analytics: Strategies & Models in Excel course.
If you are a business manager or an executive, or a student who wants to learn and apply forecasting models in real world problems of business, this course will give you a solid base for that by teaching you the most popular forecasting models and how to implement it.
Why should you choose this course?
We believe in teaching by example. This course is no exception. Every Sections primary focus is to teach you the concepts through how-to examples. Each section has the following components:
- Theoretical concepts and use cases of different forecasting models
- Step-by-step instructions on implement forecasting models in excel
- Downloadable Excel file containing data and solutions used in each lecture
- Class notes and assignments to revise and practice the concepts
The practical classes where we create the model for each of these strategies is something which differentiates this course from any other course available online.
What makes us qualified to teach you?
The course is taught by Abhishek and Pukhraj. As managers in Global Analytics Consulting firm, we have helped businesses solve their business problem using Analytics and we have used our experience to include the practical aspects of Marketing and data analytics in this course
We are also the creators of some of the most popular online courses – with over 170,000 enrollments and thousands of 5-star reviews like these ones:
This is very good, i love the fact the all explanation given can be understood by a layman – Joshua
Thank you Author for this wonderful course. You are the best and this course is worth any price. – Daisy
Our Promise
Teaching our students is our job and we are committed to it. If you have any questions about the course content, practice sheet or anything related to any topic, you can always post a question in the course or send us a direct message.
Download Practice files, take Quizzes, and complete Assignments
With each lecture, there are class notes attached for you to follow along. You can also take quizzes to check your understanding of concepts. Each section contains a practice assignment for you to practically implement your learning.
What is covered in this course?
Understanding how future sales will change is one of the key information needed by manager to take data driven decisions. In this course, we will explore how one can use forecasting models to
- See patterns in time series data
- Make forecasts based on models
Let me give you a brief overview of the course
- Section 1 – IntroductionIn this section we will learn about the course structure
- Section 2 – Basics of ForecastingIn this section, we will discuss about the basic of forecasting and we will also learn the easiest way to create simple linear regression model in Excel
- Section 3 – Getting Data Ready for Regression ModelIn this section you will learn what actions you need to take a step by step to get the data and then prepare it for the analysis these steps are very important.We start with understanding the importance of business knowledge then we will see how to do data exploration. We learn how to do uni-variate analysis and bi-variate analysis then we cover topics like outlier treatment and missing value imputation.
- Section 4 – Forecasting using Regression ModelThis section starts with simple linear regression and then covers multiple linear regression.We have covered the basic theory behind each concept without getting too mathematical about it so that you understand where the concept is coming from and how it is important. But even if you don’t understand it, it will be okay as long as you learn how to run and interpret the result as taught in the practical lectures.We also look at how to quantify models accuracy, what is the meaning of F statistic, how categorical variables in the independent variables data set are interpreted in the results.
- Section 5 – Handling Special events like Holiday salesIn this section we will learn how to incorporate effects of Day of Week Effect, Month Effect or any special event such Holidays, pay day etc.
- Section 6 – Identifying Seasonality & Trend for ForecastingIn this section we will learn about trends and seasonality and how to use the Solver to develop an additive or multiplicative model to estimate trends and seasonality. We will also learn how to use moving averages to eliminate seasonality to easily see trends in sales.
- Section 7 – Market Basket Analysis and LiftIn this section we will learn about market basket analysis and learn how to calculate lift to derive a store layout that maximizes sales from complementary products.
- Section 8 – Recency, frequency, and monetary value analysisIn this section we will learn techniques to perform RFM (Recency, frequency, and monetary value) analysis to help you maximize profit from promotional mail campaigns.
- Section 9 – Recency, frequency, and monetary value analysisIn this section we will learn price bundling techniques and learn how to increase revenue/profit of your firm by implementing revenue / profit maximizing price point using Excel solver Add-in
- Section 10 – Recency, frequency, and monetary value analysisIn this section, we will discuss about the basic of concepts of Customer Lifetime value and learn how to create excel model to find lifetime customer value and perform sensitivity analysis to capture variations in lifetime value under different scenarios.
- Section 11 – Excel crash courseIf you’re new to Excel, or you’ve played around with it but want to get more comfortable with Excel’s advanced features required for this course. Either way, this section will be great for you to revise your rusty excel skills .
Some of the examples in this course are from the book Marketing Analytics: Data-Driven Techniques with Microsoft Excel [Winston, Wayne L.]. We suggest this book as reading material for anyone aspiring to be a marketing analyst.
I am pretty confident that the course will give you the necessary knowledge and skills to immediately see practical benefits in your work place.
Go ahead and click the enroll button, and I’ll see you in lesson 1
Cheers
Start-Tech Academy
Author(s): Start-Tech Academy
