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Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
Tables are generally used where users will look up a specific measurement, while charts of various types are used to show patterns or relationships in the data for one or more variables. Data visualization refers to the techniques used to communicate data or information by encoding it as visual objects (e.g., points, lines, or bars) contained ...
A graph or chart or diagram is a diagrammatical illustration of a set of data. If the graph is uploaded as an image file, it can be placed within articles just like any other image. Graphs must be accurate and convey information efficiently. They should be viewable at different computer screen resolutions.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Collection is the first step in the MI model, it involves the gathering of data and information of a particular market sector. [3] Such data and information can be gathered from external sources, such as other organisations and their market strategies, research institutes and business reports. [3]
Data visualization uses information displays (graphics such as, tables and charts) to help communicate key messages contained in the data. [46] Tables are a valuable tool by enabling the ability of a user to query and focus on specific numbers; while charts (e.g., bar charts or line charts), may help explain the quantitative messages contained ...
They can also provide insight into a data set to help with testing assumptions, model selection and regression model validation, estimator selection, relationship identification, factor effect determination, and outlier detection. In addition, the choice of appropriate statistical graphics can provide a convincing means of communicating the ...
Marketing intelligence (MI) is the everyday information relevant to a company's markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics. Marketing intelligence is necessary when entering a foreign market.