All marketers who conduct research should know that in order for findings to be of value and use, they must be both reliable and valid. But how well do you know these terms?
Staying on Target - Build & Execute Strategy around a Sustainable Target
Whether you're writing a questionnaire for marketing research or building a five year company strategy, you must start with a clear, sustainable target (avoiding a "moving target"). As obvious as this seems, the lack of a well defined target is a critical mistake we see time and time again. Learn why the execution formula - set a sustainable target, align your strategy to the target, and execute according to your target - is critical to success.
Correlation vs. Causation - A Lesson in Careful Interpretation
Understanding the difference between correlation and causation is a critical skill for any business or marketing analyst, as well as any managers or executives using data analysis to drive business decisions. Knowing how they work, and being able to distinguish between a causal and non-causal relationship could be the difference in a multi-million dollar decision working in your favor, or helping out your competitors.
Part 1 of The "Marketing Analyst's Guide to Business Statistics" Series
Delicate data – how to properly structure your data
It seems that every company, consultant and guru today has jumped on the data bandwagon. While we all seem to understand that data is important, many struggle to properly structure and store data in a way that’s usable and useful. Fewer still actually use data to make an impact with their company’s goals – usually because their databases lack the proper structure need to pull out insights.
Despite the focus on data, we find that more often than not this is misunderstood and improperly executed. To help get you started on the right path, we put together this introductory guide to help you understand the components of data and how they fit together in order to properly handle and store this delicate but powerful resource.