This book is a refreshingly practical yet theoretically sound roadmap to leveraging data analytics and data science. The vast amount of data generated about us and our world is useless without plans and strategies that are designed to cope with its size and complexity, and which enable organizations to leverage the information to create value in marketing.
Creating Value with Data Analytics in Marketing provides a nuanced view of big data developments and data science, arguing that big data is not a revolution but an evolution of the increasing availability of data that has been observed in recent times. Building on the authors’ extensive academic and practical knowledge, this book aims to provide managers and analysts with strategic directions and practical analytical solutions on how to create value from existing and new big data. The second edition of this bestselling text has been fully updated in line with developments in the field and includes a selection of new, international cases and examples, exercises, techniques and methodologies.
Tying data and analytics to specific goals and processes for implementation makes this essential reading for advanced undergraduate and postgraduate students and specialists of data analytics, marketing research, marketing management and customer relationship management.
Online resources include chapter-by-chapter lecture slides and data sets and corresponding R code for selected chapters.
Table of Contents
1 Data science and big data
2 Creating value with data science
3 Value objectives and metrics
4 Data assets
5 Data storing and integration
6 Customer privacy and data security
7 Data analytics
8 Data exploration
9 Data modeling
10 Creating impact with storytelling and visualization
11 Creating value with data science
12 Building successful data analytics capabilities
Peter C. Verhoef is the Dean of the Faculty of Economics and Business and Professor of Marketing at the University of Groningen, the Netherlands.
Edwin Kooge is a co-founder of BAYZ, a consulting agency focusing on teaching companies to master analytics. He is a data science expert, results-focused business advisor and entrepreneur with more than 25 years’ experience in analytics.
Natasha Walk is a co-founder of BAYZ, a consulting agency focusing on teaching companies to master analytics. She is a pragmatic data science expert focusing on talent development in data science with more than 25 years’ experience in analytics.
Jaap E. Wieringa is a Professor of Research Methods in Business at the Department of Marketing at the University of Groningen, the Netherlands, and is a Research Director of the Customer Insights Center.
"More than ever before, managers are held accountable for the return on their marketing investments. Data science has thus become a centerpiece in the skills arsenal of today’s manager. This comprehensive, yet eminently readable book is a must read for anyone seriously interested in using data science to create firm value."
Jan-Benedict Steenkamp, C. Knox Massey Distinguished Professor of Marketing, University of North Carolina at Chapel Hill, USA
"Data science and big data analytics are in vogue these days but none of the current books on these subjects combine an understanding of them along with how they interface with marketing metrics. This is precisely what Peter Verhoef, Edwin Kooge, Natasha Walk and Jaap Wieringa have accomplished! The book is literally a treasure trove for marketing practitioners, academics and students, to not only understand the specifics of the data science techniques and methodologies but also to develop an appreciation of how they can all be put together to inform managers and drive decision making!"
P.K. Kannan, Associate Dean of Strategic Initiatives at University of Maryland, Robert H. Smith School of Business, USA
"In the age of big data, understanding data analytic in marketing is crucial. This edition highlights how data can bring value to the organization and brand while addressing the need for customer privacy and data security. This book helps the reader understand the what story the data is saying as well as create a data-driven culture. A must read for anyone wanting a better understanding of how data can bring value in marketing."
Joyce Costello, Marketing Management, Cardiff Metropolitan University, UK
"This superb book brilliantly synthesizes knowledge that every researcher and professional working with marketing analytics should have. The new edition of this much-valued book is even better!"
Polymeros Chrysochou, Professor at Department of Management & MAPP Centre, Aarhus University, Denmark
"This book offers an amazing overview of what data analytics entails, and how any marketer can create value through (big) data. It offers many great examples and is written in a no nonsense manner combining the best of academic and practitioner knowledge. If you are serious about data analytics, this book is a must-read."
Arne De Keyser, Associate Professor of Marketing, EDHEC Business School, France
"This revised edition is a practical book introducing readers to big data analytics in marketing in details. It is packed with great examples and engaging case studies. The book is well structured and is easy to understand. A great book for students, scholars and practitioners to start their journey in exploring big data analytics in marketing."
Mingming Cheng, Senior Lecturer in Digital Marketing, School of Management and Marketing, Curtin University, Australia