New Brand Assets: Where are we going?

"We show that easily accessible digital records of behavior, Facebook Likes, can be used to automatically and accurately predict a range of highly sensitive personal attributes including: sexual orientation, ethnicity, religious and political views, personality traits, intelligence, happiness, use of addictive substances, parental separation, age, and gender. The analysis presented is based on a dataset of over 58,000 volunteers who provided their Facebook Likes, detailed demographic profiles, and the results of several psychometric tests." Kosinski et al. 2013 (The Psychometrics Centre, University of Cambridge) Like. Comment. Engage. Sponsored...

Read more »

Intro to Data Mining for Marketers - Part 2

Data Preprocessing This stage is the most time-consuming stage of the data mining process. Data is never clean and in a form suitable for data mining. There are few typical data corruption problems in business databases such as duplication of the records, missing data fields, and presence of outliers. The preprocessing step involves integrating data from different sources and making choices about representing or coding certain data fields that serve as inputs to the data discovery stage. Such representation choices are needed because certain fields may contain data at level of details not considered suitable...

Read more »

Intro to Data Mining for Marketers - Part 1

Data mining can be defined as the process of "discovering patterns, meaning and insights in large datasets by using statistical and computational methods". Data mining works to analyze data stored in data warehouses that are used to store that data that is being analyzed. That particular data may come from all parts of business, from the production to the management. Managers also use data mining to decide upon marketing strategies for their product. They can use data to compare and contrast among competitors. Data mining interprets its data into real time analysis that can be used to increase sales, promote new product, or delete product...

Read more »