Business Analytics with Management Science Models and Methods

9. Marketing Analytics with Multiple Goals

Chapter Objectives

• Discuss the importance of seeking multiple goals in a marketing campaign

• Demonstrate the process of formulating linear models with a combination of two and three dimensions of the RFM approach

• Demonstrate the process of formulating goal programming models with assigned priorities to each dimension of the RFM approach

• Demonstrate the use of Solver for solving goal programming models as a series of several linear programming models

• Discuss the implications of combining mathematical programming models with the RFM approach

Prescriptive Analytics in Action: First Tennessee Bank Improves Marketing Campaigns¹

¹ IBM Corporation, “First Tennessee Bank: Analytics Drives Higher ...