Please remember, all the market data can be imaginary , the idea is to creative and make sense.
Watch the Starbucks Documentary
Review the Starbucks Industry Analysis
Create a Fictional Historical Sales Chart & (2-3) Diagnostic Charts - DUE DATE: Thursday, September 24th 2020 - 11:59PM
Marketing analytics is the use of data to optimize marketing decisions. The types and amount of data available to marketers today can help them make more informed and effective decisions in today’s competitive environment.
In previous eras, access to marketing data was relatively limited. These measurements of marketing activity are called marketing metrics. Marketing metrics, sometimes called key performance indicators (KPIs), are the foundation for reviewing the results of your marketing efforts and using that information to make decisions about the future.
The field of marketing analytics has emerged to leverage the opportunity presented by the increased availability of data. The challenge is knowing what data to use, how to analyze and interpret it, and how to best use it to optimize marketing decisions. That’s what this module is about.
There are three basic types of marketing analytics: descriptive, diagnostic, and predictive.
Descriptive analytics is the use of historical data to identify trends in marketing metrics. Descriptive analytics is the most basic form of analytics and answers the question “what happened?”
Example: A chart offering historical sales data.
Diagnostic analytics is the analysis of data to identify the causes of events or behavior. Diagnostic analytics is a more advanced form of analytics and answers the question “why did this happen?”
Example: A chart offering historical sales data, with supplemental charts showing sales by region and product. This additional data might help marketers spot causes for the overall trends.
Predictive analytics is utilizing data to predict future trends. Predictive analytics requires advanced data processing and answers the question “what is likely to happen in the future?”
Example: A list of potential new store locations that is the result of an analysis of population and spending trends in each of the possible locations.
Assignment - DUE DATE: Thursday, September 24th 2020
Create a fictional historical sales chart for the business (preferably, it’s either going up fast or down fast over time). This historical sales chart does not need to reflect the current reality for the business you chose. This chart represents descriptive analytics.
Then, create two or three supplemental charts (or tables) that would better explain the reason for the trend shown in the original sales chart. These additional charts represent diagnostic analytics.
You should read the files and then create one historian sales chart, one descriptive chart, one diagnostic chart and one predictive analytic chart in the excel and then import into word document to explain each chart and the reason why.
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Hey there Hope you are well in this crises I am interested in your project can you please share further details so that we can talk more about your work Thank you Yours sincerely Abhishek Dawar