Something about Marketing Analytics

One of my friend called me today and asked about my job profile at Fair Isaac. I said, I work as a consultant in Marketing Analytics within Fair Isaac Analytic Consulting Group. He was quick to ask me, "which major Retail Chain is your client?" My answer was simple, we have a few retail chains as our clients but currently I am doing an Insurance Company project. He was surprised!!!
I have quite a few of such experiences.

Last month I was having a discussion with one of my friend working for another analytics company. He asked me what we do in Marketing Analytics apart from building response models.

These two incidents make me think seriously. I see two myth surrounding around Marketing Anslytics space :
1. Marketing Analytics applies only to Retail Chains.
2. Marketing Analytics is all about building Response Models.

We actually do a lot more. Marketing Analytics team at Fair Isaac helps clients across different industry segments including Financial Services (Banking, Insurance), Retail, Healthcare, Telecom, Food Processing etc. The services provided are customer segmentation and profiling, Pre-Market Offer Testing, Predictive Scorecards (Response and Risk) etc. along with Strategy Consulting. For these services tools used are Model Builder for Predictive Analysis, Segmentation ART Module, ClusterBots, MarketSmart for Acquisitions, PMOT etc. [Each of these tools are proprietary Software of Fair Isaac Corporation].

The areas where Marketing Analytics help to make better business decisions can be:
1. Target Marketing
2. Cross sell decisions
3. Advertisement Selection
4. Sensitivity Analysis
5. Market Basket Analysis
6. Yield Management
7. Campaign Management
8. Marketing Mix Management
9. Brand Loyalty Metrics
10. Portfolio Management
11. Brand Positioning
...... etc.

Customer Segmentation and Profiling is one of the best bet Fair Isaac has, and is ahead of any other competitors. Most competitors still use objective segmentation and non-objective segmentation to find business relevant segments and natural segments. But Fair Isaac has gone one step ahead finding business relevant natural segments. We often call these as customer segments. A segment is a cluster of naturally similar customers having similar business dealing with the client. Thanks to ClusterBots. The segments are then profiled to make the solution less technical which is easily interpreted by business managers.

Fair Isaac's Marketing Analytics team is very experienced and has worked with many leading companies of the world in many verticals. Most of the Fortune 500 companies seek help of this team to form their marketing strategy. It helps its clients to take better tactical decisions to remain ahead of their competitors.

Want more about Fair Isaac Marketing Analytics Team. Click here.

(The writer is not the official speaker for Fair Isaac Corporation. These are just his personal views.)