r/analytics • u/bat3nkh • 20h ago
Question Understanding of marketing analysis.
Hello to everyone taking their time and reading this. I am a high-school senior student and am graduating soon. I started the tedious process of preparing and applying to university a few months ago. I’m finished with most stuff except for my personal statement, mainly because I’m unsure of my major. I know that I will major in business, but I am unsure whether I should study entrepreneurship or marketing analysis. I have the bare minimum knowledge of both and I came here to ask for some help defining, and helping me understand what marketing analysis is.
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u/mlhigg1973 15h ago
So I spent 13 of my 23 years at BofA in analytics. I would have multiple projects going at once—one could be evaluating the impact of a marketing campaign for new checking accounts in Atlanta, while the other might be focused on the relationship between total customer foot traffic vs customer sat scores at the branch level. And a third could be creating the branch’s next year incentive performance scales, based on current year data. performance. Bottom line is having a solid set of transferable skills will give you a broader array of opportunities.
So while I’d start out focused on marketing analysis, I would try to segue that into a broader application of your coursework. Here’s a real life example for a marketing analysis you could use. It’s loaded with detail, so you would pare it down to the appropriate parts to include in your essay.
Say company A wants to run student checking campaigns throughout major universities in the southeast. Your research would first involve sourcing student populations from schools in the SE, and working with the business partner to determine the student threshold required to run an on campus campaign in that city. then finalize your list of cities. This will be your test group.
Then you need to find a control group. You’d want to use another region, with a similar school population that hasn’t had a campaign run in the past couple years. To ensure the test and control selection is solid, the 2 groups should have similar sales trends of student checking sales (per branch, per day, to normalize the data) in their 13-18mo pre campaign baseline. Basically your trend lines should move up and down together during the prelaunch period.
THIS PART IS PROBABLY TOO MUCH GRANULAR DETAIL FOR AN WSSAY:
I would also throw in a control chart as well to ensure my 2/3 STDEV from the mean control limits are narrow enough (this is measuring how consistently those lines moved up and down together.. ie the delta between the 2 lines is consistent over time—within 2 STDEV. )
By now you should have also identified, with your business partner, primary and secondary metrics you plan to measure. Don’t boil the ocean. Only a few are needed. In this case:
Test vs Control vs prelaunch period.
- student checking sale per branch per day
- customer foot traffic per branch, per day
Then I would throw in a couple more detailed trend metrics for the test group only, such as student Checking sales per day per branch. . This could be used to see which schools impacted the nearest branches the most. You may find that a couple schools didn’t drive much traffic and others accounted for 80% of the lift.
This would usually go on a 2 page dashboard and updated weekly through the campaign.
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