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Business Analytics with Management Science Models and Methods by Arben Asllani

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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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