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Maximizing return on investment with Predictive Analytics

Big Data is the game-changing opportunity for marketing and sales. Airlines are spending on advertising. With the help of big data and analytics airlines can see how to allocate ad dollars. Marketing mix is one example of analytics which helps us understand which media vehicle works best. Following are the three key aspects of marketing mix-

1. Examining the noise- Airlines should take into account the impact of noise.

2. Normalizing the data- This means to adjust the data for external factors (those outside marketing campaign).

3. Performing a regression analysis- To calculate the return on each investment made for marketing and to know the mean impact of each campaign analysis of data is necessary.

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Wednesday, 22 January 2020
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