“Money and Brains” and “Furs and Station Wagons” were evocative customer shorthands that the marketing company Claritas came up with over a half century ago. These names, which facilitated the work of marketers and sales people, were shorthand descriptions of segments of customers identified through statistical cluster analysis. Cluster analysis is also used in marketContinue reading ““Money and Brains” and “Furs and Station Wagons””
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Course Spotlight: The Text Analytics Sequence
Text analytics or text mining is the natural extension of predictive analytics, and Statistics.com’s text analytics program starts Feb. 6. Text analytics is now ubiquitous and yields insight in: Marketing: Voice of the customer, social media analysis, churn analysis, market research, survey analysis Business: Competitive intelligence, document categorization, human resources (voice of the employee), recordsContinue reading “Course Spotlight: The Text Analytics Sequence”
Course Spotlight: Constrained Optimization
Say you operate a tank farm (to store and sell fuel). How much of each fuel grade should you buy? You have specified flow and storage capacities, constraints on what types of fuels can be stored in which tanks, prior contractual obligations about minimum monthly deliveries and incoming supplies, plus the opportunity to sell onContinue reading “Course Spotlight: Constrained Optimization”