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The relationship between Share of Voice and Market Share

For an observant marketer, it is critical to understand what metrics he/she wants to look at to measure the success of a campaign and the success of a brand. Monitoring new metrics makes sense due to the rise in e-commerce and social media. Some examples are vanity metrics(likes, shares, comments) and engagement metrics (page views, …

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The Importance of Critical Thinking in the World of Big Data

Decision making is very stressful for us, both for our professional or personal lives. We want to know if it is the right step and the long-term impacts. To choose between two alternatives that can alter our lives can be overwhelming. But what if something can tell us the probability of success or likelihood of …

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4 Easy Steps for A/B test

Image Courtesy: https://www.optimizely.com/optimization-glossary/ab-testing/ What is A/B Testing  As the name suggests, A/B testing is comparison-based testing. The experiment is performed by executing the product or campaign in two different options and then comparing them to derive inference and analyze the result. It is used most commonly for testing two variations to understand which one performs better …

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Data Points and Data Insights: Adding Value to a Decision Making Process

After the emergence of Big Data as the new shiny thing for collecting data, we suddenly see businesses noting down every bit of information of a customer. It has kept on accumulating in hopes of a Minority Report kind of situation that we will predict the next step of the customers even before they think of it. …

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