Forecasting Models for Marketing Decisions

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Forecasting Models for Marketing Decisions

This course is part of Foundations of Marketing Analytics Specialization

Instructor: David Schweidel

19,022 already enrolled

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4 modules

Gain insight into a topic and learn the fundamentals.

80 reviews

Intermediate level

Some related experience required

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

4 modules

Gain insight into a topic and learn the fundamentals.

80 reviews

Intermediate level

Some related experience required

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

Skills you'll gain

Tools you'll learn

Microsoft Excel

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

4 assignments

Taught in English

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This course is part of the Foundations of Marketing Analytics Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 4 modules in this course

How will customers act in the future? What will demand for our products and services be? How much inventory should we order for the next season? Beyond simply forecasting what customers will do, marketers need to understand how their actions can shape future behavior. In Developing Forecasting Tools with Excel, learners will develop an understanding of the basic components of a forecasting model, how to build their own forecasting models, and how to evaluate the performance of forecasting models. All of this is done using Microsoft Excel, ensuring that learners can take their skills and apply them to their own business problems.

This module will discuss how to identify the necessary components of a forecasting model based on patterns in the history data. You will also be able to evaluate the performance of a forecasting model using both in-sample and out-of-sample metrics.

What's included

4 videos3 readings1 assignment

4 videos Total 33 minutes

Approaches to Forecasting 12 minutes
Regression - Based Modeling 10 minutes
Examining the Residuals 7 minutes
Assessing Forecasting Performance 4 minutes

3 readings Total 80 minutes

Simple Forecasting Model Assignment 60 minutes
A Predictive Analytics Primer 10 minutes
Nowcasting: A Model for the Future of Marketing 10 minutes

1 assignment Total 20 minutes

Module 1 20 minutes

"Meaningful Marketing Insights," This content will be familiar for learners who completed the first course; please think of this portion of the class as a review.

What's included

6 videos5 readings1 assignment

6 videos Total 110 minutes

How to Use Customer Centric Analytics 10 minutes
Business Decisions Drive Customer Choices 9 minutes
Illustrating Customer Acquisition in Excel 11 minutes
Timing Models in Marketing 10 minutes
Model for Retention Excel Demonstration 30 minutes
Kiwi Bubbles Exercise Excel Demonstration 39 minutes

5 readings Total 170 minutes

Read This First 10 minutes
Leveraging Customer Analytics: The Insurance Industry 30 minutes
Companies still struggle to unlock customer data analytics insight 10 minutes
Retention Exercise Instructions 60 minutes
Kiwi Bubbles Instructions 60 minutes

1 assignment Total 20 minutes

Module 2 20 minutes

This module will discuss managing customer equity, acquisition, retention, & market value, and customer valuation. You will learn how to decompose customer value into its underlying components.

What's included

4 videos2 readings1 discussion prompt

4 videos Total 40 minutes

Managing Customer Equity 11 minutes
Acquisition, Retention, & Market Value 11 minutes
Customer Valuation 9 minutes
Marketing to New & Current Customers 9 minutes

2 readings Total 20 minutes

What You Should Know About Customer Success Technology 10 minutes
Online Communities Foster Customer Loyalty 10 minutes

1 discussion prompt Total 20 minutes

Social Networking and Customer Valuation 20 minutes

A common task in developing forecasting models is to use them to make decisions regarding the marketing mix activity. With a marketing mix model, organizations can assess the efficacy of different marketing actions. Included is a sample of data for a popular frozen food category. In addition to weekly sales and pricing, for the focal brand we have information on whether the product was featured in the store’s advertising (e.g., newspaper circular) and if the product was on display in the store. We also have pricing information from competitors. In this module, we will build a series of regression models to evaluate the impact of the brand’s actions and competitors’ actions.

What's included

4 readings2 assignments1 peer review1 discussion prompt

4 readings Total 105 minutes

Marketing Mix Modeling 15 minutes
Instructions for Exercise 30 minutes
Instructions for Exercise 30 minutes
Instructions for Exercise 30 minutes

2 assignments Total 18 minutes

Conducting Exploratory Analysis Quiz 10 minutes
Building a Marketing Mix Model Quiz 8 minutes

1 peer review Total 60 minutes

Marketing Mix Model Peer Assessment 60 minutes

1 discussion prompt Total 10 minutes

Discussion Question 10 minutes

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Instructor

Instructor ratings

(8 ratings)

David Schweidel

Emory University

11 Courses 77,373 learners

Offered by

Emory University

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Reviewed on Mar 30, 2020

Incredibly useful and practical. Professor Schweidel keeps a good pace, and each video is engaging. I have already put everything into practice at work!

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To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. You can try a Free Trial instead, or apply for Financial Aid. The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.

When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.

Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.