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The Future of Media & Advertising – on ADPRO LinkedIn Group

Listen to this Post The Future of Media & Advertising. The future of Media is in content, not in traditional ads. The content can be seen in any screen or platform anytime, anywhere, many times, […]


We’ve Always Done it This Way! – CMO Group on LinkedIn

Listen to this Post Scenario: You’re new to a company, hired for your expertise, but keep running into the “We’ve always done it this way” mindset. How do you change that mindset? What steps do […]


What is a Marketing Budget?

Listen to this Post It’s both the estimated cost of a marketing plan, along with the distribution of that money by business unit and distribution channel. The file embedded above is not intended as a final product. Instead, it […]

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What are Purchase Triggers?

Listen to this Post Purchase triggers are pieces of information that compel your target customers to act on the benefits your brand offers.    Purchase triggers can be used along the buying decision process, based […]


Will This Entrepreneur Find Advisers for Their New Venture?

Listen to this Post With our product being developed, we are looking for a good team of advisors – we need input, challenges and connections, how can I find them? – Clarity user   Please […]

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Automated Medical Treatments

Listen to this Post I want to create a new wearable/portable healthcare device. What area of medicine should I focus on? I am seasoned in writing software and product design. I know healthcare is a […]


What is a Sensitivity Analysis?

As far as marketers are concerned, sensitivity analyses help us to predict the financial effects of changes in the customer experience.

Video courtesy of financewithexcel

Pairs well with: Uncertainty Analysis

 

 

Marketing Applications of Sensitivity Analyses.

  • Effective and efficient allocation of resources
    • Improve data management
      • Identify critical drivers 
      • Compare alternative models

Main Flaws of Sensitivity Analyses.

  1. Analyses are based on historic (old) data
  2. Accuracy depends on computing power
  3. Expectations are subjective data interpretations
  4. Correlations are not always evident
  5. Unknown synergistic interactions

 

 

Maximise your computing power and reduce inaccuracies.

1. Design the sample.

2. Survey the sample at a number of points in its input space

2. Variable Selection or Screening.

Identify which input variables are contributing significantly to the output. Screening is often used to weed out low-relevance variables before the main analyses begin.

 

4. Select an emulator.

Emulators are mathematical functions that approximate the behaviour of a data model, using less computer power than the model itself.

Educational videos:

or

 

  • What will the effect be if these variables deviate from expectations.
  • Which variables would cause the largest deviations?

 

  • Future rates
    • Taxes
    • Interest
    • Unemployment
    • Operating expenses
    • Accidents

 

5. Train the emulator with data from # 2

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Listen to this Post @CustomerSpecs This is what I think of it https://t.co/nxAC6ldKA6. What d’ya think of that? — Ken Gordon (@quickmuse) June 11, 2015 Ken has a point. It’s not social unless it’s geared […]


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Listen to this Post Social media are platforms that help your target customers to either talk to you or about you, on the record. Why are social media important to your company? Because of the insights. Social media let your target […]


What is Cash Flow Forecasting?

Listen to this Post Cash flow forecasting verifies the revenue predicted by a sales forecast, as far as a marketer is concerned. * VAT = sales tax You might be asking yourself why a marketer […]

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Medical Billers Increase Customer Worth of Medical Practices – LinkedIn

Listen to this Post Don’t Let Medicare Pay Cuts Impact the Bottom Line of Your Practice | LinkedIn   Medical billers can increase a medical practice’s customer worth, which means extra profits for this company’s target. […]


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Listen to this Post IT’S THAT TIME OF THE YEAR, AGAIN.   Congratulations if your mother is both alive and in contact with you. Cherish your time with her, because it flies and also because life […]


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What is Marketing Mix Modelling?

Listen to this Post Marketing Mix Modelling is optimising marketing tactics, based on statistical analyses, such as multivariate regressions. Marketing mix modelling calculates past ROI or predicts future ROI through historical information, such as transactional […]


What is a Supply Chain?

Listen to this Post A supply chain is the list of tasks and partners required to fulfil an order.  Supply Chain Management. A supply chain could include multiple companies. Coordinating the contributions of everyone is key.   Suppliers. […]

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What is a Marketing Strategy?

Listen to this Post A marketing strategy is an attempt at selling your products using resources available to your company. Your strategy will permeate every aspect of your company. Understanding marketing strategy is simple if […]


What is a Mission Statement?

Listen to this Post A mission statement defines what your company does for your customers, your employees and for you, the owner.  Your company’s mission statement is an opportunity to define your company in terms which […]

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What is Sales Forecasting?

Listen to this Post Sales forecasting is an estimation of your future sales.   Sales forecasting is an integral part of marketing management, because it gives planners insights on cash flow needs and also on how […]


What is Brand Equity?

Listen to this Post Brand equity is the difference in price between a brand name product and its generic competitor(s) Image Credit: http://www.chron.com Brand equity is used by marketers to describe a brand name product […]

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