In this session, you have learnt the different types of analytics, the BADIR framework, and

considerations in the marketing tactics of conjoint analysis, regression analysis and market mix
modelling.

You learnt that there are four types of analytics that businesses use to drive their
decision-making. These include the following:

1. Descriptive Analytics: It is used to grasp associations between factors. For

instance, an association between the holiday season and increased sales.
2. Diagnostic Analytics: It is used to find a cause of a phenomenon. For instance, the
reason for increased sales in particular months.
3. Predictive Analytics: It is based on historical performance used to predict future
outcomes. For example, to predict demand in the next holiday season using historic
performance. It should be noted that predictive models based on a certain type of
marketing should predict the outcomes of the same type of marketing.
4. Prescriptive Analytics: It is for the type of marketing that should be undertaken
based on past patterns. It determines how the marketing activity should be
optimised. It requires viewing counterfactuals, i.e., analysing alternative actions.

As a marketer, you have a lot of data from various sources. With so much available data,
even from different departments, how do you go about structuring it in a way which helps
you to take an appropriate decision costing millions of dollars in the end?

One such marketing framework often used by marketers is the BADIR framework.

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In this segment, you learnt the limitations of analytical techniques such as conjoint
analysis and the challenge faced by retailers in analysing the data at an aggregate level.

Some of the limitations of conjoint analysis discussed were:

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