Define predictive analytics and discuss a marketing researcher's ...

[Tirant22]

Define predictive analytics and discuss a marketing researcher's job in predictive analytics.

Question 2

A company's tendency toward offensive or defensive actions correlates with its size.
 a. True
  b. False
 Indicate whether the statement is true or false

[LVPMS]

Answer to Question 1

Broadly speaking, predictive analytics refers to linking computerized data sources to statistical tools that can search for predictive relationships and trends which allow more accurate prediction of consumers' opinions and actions. Software companies like SPSS and SAS offer products that both look for data and then use statistical tools to reveal key predictive relationships. A marketing researcher's job in predictive analytics is twofold: (1) identify the key sources of information that may create predictive intelligence and (2) use analytic tools to build predictive models.

Answer to Question 2

False