Marketing Analytics – Chap. 9, 10, and 11 Glossary Terms

For this blog post, I’d like to take the time to go over a few glossary terms from the chapters we reviewed this week – chapter nine, chapter ten, and chapter eleven. I will be selecting two terms from the glossary at the end of each chapter and diving into further detail as to what they are and how they relate to our field.

Chapter 9

Geofence: a virtual geographic boundary, defined by technology on a mobile phone, that enables an app to know when a customer with a mobile device enters or leaves the defined area. I found a great article about what geofencing is – you can access it here. Geofencing is used in marketing when location specific offers are available from certain stores or organizations. For example, you could walk past a certain display in the mall and then get a notification on your mobile device providing you a coupon to that specific display. 

After-only design: a single outcome is measured only after the participants have been assigned to condition. This term was a bit confusing to me because of the wording. I found it hard to differentiate between different types of experimental projects and designs, so this was something I looked further into. Here is a great article that goes deeper into two main types of experimental design. 

Chapter 10

Autonomous media buying: marketing platform that performs digital media buying on behalf of clients. This term was particularly interesting to me because it helped me understand the different ways artificial intelligence can be used. When you first think of artificial intelligence, what immediately comes to mind are things like robots or self driving vehicles. However, autonomous media buying is a different type of artificial intelligence that can eliminate certain busy work out of an organization’s day to day processes.

Albert-AI-Programmatic-Advertising

Machine learning:  application of artificial intelligence that allows systems to automatically learn and improve without actually being programmed to do so. Machine learning is another aspect of artificial intelligence I hadn’t fully understood. When I think of artificial intelligence, what first comes to mind is the idea that we can create programming to do specific tasks for us as humans that make our jobs easier. Machine learning is a perfect example of that. I can imagine in settings like factories or warehouses, artificial intelligence with this type of capability is what creates better productivity and product advancement. 

Chapter 11

Commercial data visualization tools: online or desktop software packages that offer a wide range of options for data visualization for a price. There are various ways to create data imaging and presentations when necessary. One that I frequently use in my job would be Microsoft Excel. The capability that you get just with using Excel is enough to fulfill what I need it for. However, in broader roles with more job responsibility, there will be other tools available the have more capabilities. A common software that was also mentioned in our chapter is called Tableau. Tableau is based in Seattle, Washington and was created in 2003.

375px-Tableau_Logo

Heat map: graph that displays information as a map in which variables are represented using colors (with red typically used to depict the highest intensity of the variable). From a purely aesthetic standpoint, heat maps are the easiest for me to interpret and understand in my personal experience. I think the visuals that heat maps can provide are very powerful and striking. When you used alternating colors, you can grab the audience’s attention and really make a point. By associating color with your product or presentation, your audience will be able to easily associate variables and contribute to your conversation. 

In conclusion, the terms and phrases we have covered in the last three chapters have related to data visualization, artificial intelligence, and experimental design. But utilizing these concepts, we are bound to make ourselves better marketers and provide capabilities that can advance our organizations and ourselves in this field. There are many options for each term that allow the user to be creative and independent in the marketing process. By allowing ourselves to open up and learn about new processes, we can only advance the future of marketing and have a better grasp on how to prepare and change our business plans in the future.

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Marketing Analytics – Chap. 9, 10, and 11 Glossary Terms

2 thoughts on “Marketing Analytics – Chap. 9, 10, and 11 Glossary Terms

  1. michaelarow says:

    I enjoyed learning more about the terms you chose. I also liked the pictures you picked and it helped me understand better.

    Like

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