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Data Analytics for Business: Lessons for Sales, Marketing, and Strategy PDF

179 Pages·2022·7.464 MB·English
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“This book should be considered required reading for analysts, managers and executives seeking to drive business performance and gain competitive advan- tage through data-driven strategy and decision making. Dr. Haimowitz has distilled his considerable experience into a practical how-to guide that is sure to become a fundamental reference text for the modern analytics practitioner or manager, regardless of industry.” Zaheer Benjamin, Group Leader in Business Intelligence & Analytics across Life Sciences, Broadcasting, and Major League Sports DATA ANALYTICS FOR BUSINESS Interest in applying analytics, machine learning, and artificial intelligence to sales and marketing has grown dramatically, with no signs of slowing down. This book provides essential guidance to apply advanced analytics and data mining techniques to real-world business applications. The foundation of this text is the author’s 20-plus years of developing and delivering big data and artificial intelligence solutions across multiple indus- tries: financial services, pharmaceuticals, consumer packaged goods, media, and retail. He provides guidelines and summarized cases for those studying or working in the fields of data science, data engineering, and business analytics. The book also offers a distinctive style: a series of essays, each of which summa- rizes a critical lesson or provides a step-by-step business process, with specific examples of successes and failures. Sales and marketing executives, project managers, business and engineering professionals, and graduate students will find this clear and comprehensive book the ideal companion when navigating the complex world of big data analytics. Ira J. Haimowitz, Ph.D., is Vice President of Product Management at Deloitte Consulting, specializing in developing and delivering strategy and analytics solutions for the life science industry. Standard Legal Description Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte Profile Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger econ- omy, a more equitable society, and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s more than 345,000 people worldwide make an impact that matters at www.deloitte.com. Disclaimers This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms or their related entities (collectively, the “Deloitte organization”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your busi- ness, you should consult a qualified professional adviser. No representations, warranties, or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities DATA ANALYTICS FOR BUSINESS Lessons for Sales, Marketing, and Strategy Ira J. Haimowitz Designed cover image: gorodenkoff First published 2023 by Routledge 605 Third Avenue, New York, NY 10158 and by Routledge 4 Park Square, Milton Park, Abingdon, Oxon, OX14 4RN Routledge is an imprint of the Taylor & Francis Group, an informa business © 2023 Taylor & Francis The right of Ira J. Haimowitz to be identified as author of this work has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe. ISBN: 978-0-367-28150-2 (hbk) ISBN: 978-0-367-28148-9 (pbk) ISBN: 978-0-429-30036-3 (ebk) DOI: 10.4324/9780429300363 Typeset in Bembo by codeMantra CONTENTS About the Author ix Foreword xi Acknowledgments xv Part I Organizational Design Principles 1 1 Linking Business Challenges to Big Data Solutions 3 2 Selling the Big Data Analytics Initiative 14 3 Organizational Structures for Advanced Analytics 28 4 Lessons Learned Managing Big Data Departments 39 Part II Analytics Business Applications 49 5 Segmentation: Categorizing Your Customers 51 6 Targeting: Getting it “Right” 64 7 Campaign Measurement with Learning Objectives 75 8 Strategic Text Mining 91 9 Predictive Modeling for Business 102 viii Contents Part III Implementation and Delivery 119 10 Privacy Considerations for Big Data Analytics 121 11 Delivering Results with Actionable Insights 128 12 Scalability and Long-Term Success 141 References 155 Index 159 ABOUT THE AUTHOR Ira J. Haimowitz, PhD, is Vice President of Product Management at Deloitte Consult- ing, specializing in developing and delivering strategy and analytics solutions for the life sci- ence industry. He combines AI and machine learning education from MIT and Cambridge University, with over 20 years of product lead- ership and consulting expertise. Throughout his career, Ira has led product development and client delivery functions at several man- ufacturers, marketing agencies and analytics consulting firms. Ira lives in New York City with his wife Barbara, and is always proud of his three college-educated, independent chil- dren Nathan, Eva, and Deb.

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