8. Marketing Analytics with Linear Programming
Chapter Objectives
• Understand the role of marketing analytics as part of business analytics
• Explain the recency, frequency, and monetary value approach model as a descriptive marketing analytics tool
• Demonstrate how to use Excel to classify customers into recency, frequency, and monetary value clusters
• Apply linear programming models to determine segments of customers that must be reached to maximize the profits under budget constraints
• Discuss the challenges of implementing marketing analytics in the era of Big Data
Prescriptive Analytics in Action: Hewlett Packard Increases Profit with Marketing Optimization Models1
In 2005, Hewlett-Packard (HP) established HPDirect.com with the goal ...
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