Delve into the course contents and find out about the faculty members.
Companies are currently spending millions of dollars on data-gathering initiatives, but few are successfully capitalizing on all this data to generate revenue and increase profit. Converting data into increased business performance requires the ability to extract insights from data through analytics. Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI) of marketing efforts. With a profound understanding of marketing analytics, marketers will be more efficient and will improve the performance of their marketing actions and minimize wasted marketing dollars.
At the same time, sales analytics is used in identifying, modeling, understanding and predicting sales trends and outcomes while aiding sales management in understanding where salespeople can improve. Sales analytic systems provide functionality that supports discovery, diagnostic and predictive exercises enabling the manipulation of parameters, measures, dimensions or figures as part of an analytic or planning exercise.
In this course participants will learn state-of-the-art models and analytical approaches for a better understanding of consumers, customers, markets and competitors as well as increasing efficiency of marketing and sales actions and enhancing competitive advantage. By the end of the course, participants will be able to make sense of the information and knowledge available and create marketing strategy and programs based on both analytical arguments and quantitative metrics. Via cases and real-life applications, participants will
Course Composition and Teaching Methods:
The participants of this course will learn the application of analytical models and statistical methods to generate insights from data about consumer and customer behavior, market dynamics and competitors, and will apply them to real-world cases. This course also covers a wide range of specific analytical methods and their application in marketing management (i.e. sales tactics, customer management and brand management) and developing marketing strategy (i.e. pricing strategy, social media and advertising strategy and digital marketing).
The course is split into six parts:
1. Introduction in Marketing and Marketing Analytics
2. Consumer and Customer Analytics: Analyzing and Predicting Preferences and Choice
3. Market Analytics: Analyzing and Predicting Aggregated Demand and Competition
Marketing Management: Increasing Efficiency of Marketing & Competitive Advantage through Analytics
4. Analytics for Customer and Sales Management
5. Analytics for Brand Management
6. Advertising and Social Media Analytics
These concepts and tools will be introduced in class. Multi-Competence Teams (MCTs) formed by the students will solve cases in which they will have the opportunity to apply the learned concepts. By doing this, they will acquire skills that will help them increase their performance in marketing environments.
The overall objective of the course is to train analytical thinking skills by analyzing and framing marketing and sales problems and using problem-solving techniques to create marketing and sales intelligence, all while considering ethical issues. Overall, participants will develop a data analytics mindset, learn new tools, and understand how to convert numbers into actionable marketing and sales insights.
Optional tutorials included:
Academic Director for the Mannheim Master in Management Analytics, Chair holder Quantitative Marketing and Consumer Analytics at the University of Mannheim
Researched / taught previously at:
Florian Stahl earned a Master's Degree in Economics from the University of Zürich (Switzerland) in 2001 and a PhD in Business Economics in 2005 from the University of St. Gallen (Switzerland). Between 2005 and 2008, he was a postdoctoral research fellow at Columbia Business School in New York. Before joining the University of Mannheim faculty of business administration in 2013, he was an Assistant and Associate professor (with tenure) of Quantitative Marketing at the Department of Business Administration of University of Zürich.
Fields of interests / research areas:
Florian Stahl's research interests are primarily in empirical quantitative marketing, business economics and information systems research. Specifically, his research addresses business related questions of the digital economy and, in particular, of online social networks and social media. Methodically his research is based on empirical modeling, applied econometrics, Bayesian modeling and experimental studies (laboratory as well as field experiments). The results of Florian Stahl's research have been published in top-tier journals such as Journal of Marketing or Journal of Marketing Research and won the 2012 H. Paul Root Award and the 2012 Robert D. Buzzell / Marketing Science Institute Best Paper Award.
Most recently in Journal of Research in Marketing, Journal of Marketing and International Journal of Research in Marketing
Located in the heart of the German and European economy, Mannheim Business School (MBS), the umbrella organization for management education at the University of Mannheim, is considered to be one of the leading institutions of its kind in Germany and is continuously ranked as Germany’s #1.