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Analytics
Analytics is the science of analysis.
Behavioural modelling
The process used to audit, analyse and come to a conclusion of various behaviour of a group of people.
Churn rate
Churn rate is a measure of customer attrition.
Cost per acquisition (CPA)
The amount you pay to acquire a customer
Cross-selling
Attempt to sell additional products to current customers, often based on their past purchases.
Customer acquisition
The processes used to get new customers for a business. Customer acquisition process begins with gaining marketing insights to find out who the potential customers are, where they might be, when should the company communicate with them, and what medium are most suited to communicate with them.
Customer churn
Customer churn refers to the periodic loss of customers in an organisation.
Customer retention
Customer retention refers to organisations’ strategies to keep their customers.
Data
Data is simply raw numbers, texts, addresses or other raw materials. Data form the primary ingredients in creating marketing insights.
Data audit
Data audit is the examination of data in order to determine its accuracy.
Data capture
Data capture is the process of collecting data for some later use. Data can be captured via various channels; electronic, face to face, physical mail and telephony.
Database
A database is a system for storing various data. In the marketing world, databases are most commonly associated with customers and prospective customers’ records.
Data mining
Data mining refers to the process of analysing data in order to determine patterns and their relationships.
Demographic segmentation
Demographic segmentation is about dividing the market into various groups based on different variables such as age, gender, race, religion, nationality, marital status, income, family size etc
Direct marketing
Direct marketing the activities organisations use to communicate and promote their offerings directly to individuals. Internet, physical or electronic mail, the telephone are all mediums used for direct marketing.
Geographic segmentation
Geographic segmentation is about dividing the market into various geographical units.
Geo-demographic segmentation
Geo-demographic segmentation is about identifying characteristics of customer groups by combining geographic, demographic and lifestyle segmentation.
Insights
Insights is the capacity to discern the true nature of a situation.
Lifestyle segmentation
Lifestyle segmentation is about identifying different lifestyle characteristics of customers/prospective customers that allows target customers/prospective customers to be identified.
Marketing analytics
The science of analysing the customer and/or market data.
Marketing insights
Utilising external market data and tapping into various internal customer data across multiple functions, applying methodologies, tools and know how to discover the true nature of customer and/or market behaviour, creating outcomes that clients can act on.
Market research
Market research is the organised discovery of information about a market place. Broadly, market research can be split into two forms, primary and secondary. Various methods can be used to gather information, for instance, face to face, telemarketing, website, email/physical mail and focus groups.
Predictive modelling
Predictive modelling is the process by which a model is created to best predict the probability of an outcome.
Psychographic segmentation
Psychographics segmentation is about dividing people into various groups according to their opinions, beliefs, values and interests etc
Retail site analysis
Retail site analysis refers to understanding of various characteristics and other factors that affects the performance of a retail trade area, and its potential sales in the future.
Segmentation
Segmentation is about dividing the markets and customers into various groups, each have different needs and wants, to allow businesses to deliver tailored products/services to them, meeting their needs and wants.
Spatial analysis
Spatial analysis is often known as modelling. Basically it is the process of determining the spatial distribution of a variable, the relationship between the spatial distribution of variables, and the association of the variables of an area in order to extract and create new information.
Statistics
The collection, tabulation, summary and interpretation of various quantifiable data.
