Data Analysis is No Game For Amateurs
What sorts of hands-on data investigation should marketers do themselves, and what should they leave to trained data miners?
Efficient Databases Require Past-Point-in-Time Views
Most marketing database developers are not deep-dive data miners. Therefore, all too many of today’s databases don’t support strategic analytics best practices
Using simulators to find E-LTV
You know that best-practices marketing database content is essential to effective data mining. It works in tandem with longitudinal (over time) test panels and business simulators to identify and leverage a given company’s dynamics to provide important strategic and tactical insights.
Going back to the future
Do you remember the 10 commandments of marketing database content management from previous columns? In case you don’t, here’s a quick recap: The data
Best Practices in Data Mining: The Second Five Commandments
Data mining is enhanced, often dramatically, when the source data are improved. The ultimate goal is for data mining to be performed off a platform that
The first five commandments of database content management
Welcome to a new quarterly column by Jim Wheaton, cofounder/principal of Wheaton Group, a Chicago-based data management, data mining, and decision sciences
Calculating incremental response
When measuring the effectiveness of a promotion, it’s not enough to know the overall response and revenue. What you really need to measure is the incremental
the non predictive part of predictive modeling
The bulk of predictive modeling doesn’t involve statistics, but rather research, analysis, and implementationSome catalogers may be intimidated by the
Multiple analytical tools
Despite a vast selection of analytical tools available today, many catalogers don’t stray from the traditional customer segmentation of recency, frequency,
PROSPECTING’s Lifetime Value Equation
All other things being equal, the size of your catalog business is directly proportional to the number of prospects you can contact affordably. But many