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Social Media Analytics Midterm

Terms in this set (47)

database
application to store, organize, and query data
Data Table
Made of data variables
structured
data tables and databases are designed to store _____________ data
structured data
organized, defined variable types. Easier to search and analyze
unstructured data
unstandardized variable types. Harder to analyze. Images, etc.
Big data
refers to data that has significant velocity (speed), volume, variability, and veracity (abnormalities)
ad hoc, alert, dashboard, in-tool reports, scheduled reports
Types of reports
ad hoc reports
created on demand by analysts; used to answer novel business questions or explore data in a new manner
alert
unautomated; set up by an analyst but generated by a platform or application; often triggered when there is a data abnormality
dashboard
continuously updated; often features KPIs
in-tool reports
generated natively within a marketing technology application; readily available to analysts but have limited flexibility
scheduled report
recurring; created on a regular basis; scheduled reporting is standardized and easily shared with others
Customer
a consumer who has used or is currently using a specific business' product or service
consumer
individuals who pay or exchange value to use products and services
McKinsey Consumer Decision Journey
trigger
initial consideration set
active evaluation
moment of purchase
post purchase experience
loyalty loop
trigger
stimulus that ignites a consumer's recognition of a need
initial consideration set
list of brands that immediately comes to a consumer's mind to resolve the triggered need
active evaluation
when a consumer actively conducts research on what brand best solves their triggered need
moment of purchase
when the consumer makes their purchase decision
post purchase experience
when the consumer uses the product or experiences the service
loyalty loop
when a trigger leads directly to the moment of purchase
target market segment
a subset of total consumers with similar needs and responses to marketing stimuli that a business has strategically identified to receive focused marketing messages
behavioral dimensions
usage, activities, actions
demographic dimensions
age, life stage, gender, income, and social class
geographic dimensions
location (country, region, climate, etc.)
needs
wants and demands
psychographic dimensions
lifestyle, personality, and attitudes
persona
a fictional character representative of a business' target mkt segment
Gartner Analytics Maturity Model
5 levels
tag manager
a marketing technology tool that empowers analysts to rapidly implement tracking tags, which are bundles of JavaScript or HTML code that create cookies and pass info to websites and mktg technologies
triggers
An analyst uses variables and conditions to outline instructions when creating a trigger
tag manager variables
common ones are date, page URL, link URL, and product name' one tag can pass countless combos of info and one trigger can fire in a variety of diff situations
measurement model
supports an analyst during all steps of the question, curate, analyze, and optimize decision-making framework
descriptive
what happened?
diagnostic
why something happened?
Predictive
what will happen in the future?
prescriptive
how we can make something happen
paid media
a category of digital marketing media that includes all the platforms that enable paid digital marketing
ex: search ad platform, display ad platform, paid social platform
owned media
a category of digital marketing media that includes all the media fully controlled by a business
ex: website, organic search, mobile app, email, video, FB page
earned media
a category of digital marketing that includes all the media owned and controlled by third parties that do not accept payment to influence visibility
ex: social listening, digital public relations, external links, reviews & ratings
summary approach
used to answer descriptive analytics questions, involve arithmetic to transform metrics into summary values

common techs: sum, median, count, avg, std. dev., min, max
PIVOT TABLES
classification and clustering
involve grouping data records based on shared features

can answer descriptive and diagnostic questions
manual classifications
involves creating thresholds/rules for dividing data records into segments
statistical cluster analytics
identifies data groups not prev known or hypothesized
trend approach
the monitoring of variables to see how they change over time

answers descriptive and predictive questions
relativity approach
involves measuring an observ. in relation to another observ.

can answer descriptive, diagnostic, and prescriptive
correlation
a technique used for measuring the relationship bt two or more variables
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