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The Data & Marketing Association
presents
Statistics and Modeling for Direct Marketers On-Site Training
Learn How To Better Understand And Evaluate Direct Marketing Statistical Techniques - and Better Manage Your Modeling Projects
Course Description/Agenda
You know how important your customer database is. Now get up-to-speed on essential direct marketing statistical techniques that will enable you to amplify its power. This seminar has been around longer than any other DMA course. Since 1986, hundreds of companies have sent employees to DMA’s Statistics & Modeling for Direct Marketers Seminar. Many think of it as their own internal training course that prepares staff to make informed decisions and better manage modeling projects. Benefits of AttendingGet Answers to All Your Important Questions, Including: - What are the most important statistical techniques available to direct marketers and how can we use them?
- What’s the best way to determine the correct number of pieces to mail?
- How can we tell if differences in test results are significant or due simply to chance?
- Which is better – multivariate response analysis or traditional direct marketing RFM cell analysis?
- How do neural nets work? How do their results compare to other modeling techniques?
- What do we need to know to choose the correct multivariate techniques for a particular problem?
- Is there a way to evaluate the benefits of modeling in dollars and cents?
Who Should Attend- Anyone directly involved with database marketing, response analysis, marketing, or financial analysis
- Decision makers wanting a better understanding of analytical techniques
- Account service personnel selling or recommending the use of sophisticated multivariate systems
- Marketing Directors or Managers
- Product or Brand Managers
- Financial Analysts
- List Managers or Brokers
- Data Processing Managers.
Why You Should AttendBefore you start a modeling project, you need to ask the right questions about critical marketing practices if you are to make informed decisions, such as: - How can I determine the correct number of pieces to mail?
- Are our test results significant or not?
- Will modeling work for our organization?
- Is there a way to evaluate the benefits of modeling in dollars and cents?
- What do we need to get started? Hardware? Software?
Through a series of discussions and examples, Statistics & Modeling for Direct Marketers will help you build the statistical analysis skills you need to manage modeling projects confidently and successfully.
FREE BONUSES!
- Free Web Resources hand-picked by the instructor. They’ll make it easy to calculate the right sample size and confidence intervals, tell if test results are significant, determine how many pieces to mail to beat the control, decide what to do if both the back-end and up-front response changes, and more.
- You will receive a workbook packed with over 400 pages of valuable information you can continually refer to back on the job. It includes proven techniques, checklists, guidelines, and a wealth of other tools for improving your company’s results. Plus, there is ample space for you to take notes and highlight new ideas as they are presented during class discussions.
Attendees tell us this workbook alone is worth the price of admission!
Continuing Education Units AwardedContinuing Education Units may be used as evidence of your new skills and educational accomplishments. Attendees earn .8 CEUs per day. You will be mailed your certificate of completion reflecting CEUs earned. Outline DAY 1
9:00 A.M. – 5:00 P.M. Please arrive 30 minutes earlier than the start time to register. Continental breakfast will be served. Basic Statistical Review and Applications- How “chance” affects the results from DM list and package tests
- How to adjust for these “chance” effects (normal distributions etc.)
- How to build forecasts for the results from your next promotion
- How to determine your needed sample size
- How to test if two list or package results are “statistically different”
Predictive Modeling and Segmentation Modeling- What the difference is between the two types of modeling procedures, how they relate to each other, and when to use each
Correlation Analysis- How to read scatter diagrams and plots of residuals
- How to read a correlation matrix, and what it tells you to avoid
Multiple Regression Analysis- When to use a multiple regression program
- How to analyze data prior to regression analysis and why it’s imperative to perform this step
- How to model the non-linear response patterns so common in direct marketing response analyses
- How to use “dummy variables” in regression analysis
- How to perform simple regression analyses using Excel™
AID/CHAID or "Tree" Analysis- How to interpret the output of an AID/CHAID program
- Why an AID/CHAID analysis is not used for scoring
- How AID/CHAID can be used to choose variables for a regression model
Networking Opportunity: Lunch will be served each day to facilitate networking with your peers. DAY 2
9:00 A.M. – 4:00 P.M. Factor Analysis- When to use factor analysis prior to using regression
- How to interpret the output of a factor analysis
- How to use factor analysis to analyze your marketing research data
Cluster Analysis- How to use a cluster analysis to create your own customer target market groups
- How to decide on the “right” number of clusters to include in a cluster analysis
Discriminant Analysis- The similarities and the differences between discriminant analysis and regression analysis. When to use each.
Logistic Regression- What it is
- Why it is the recommended method to be used when performing response analysis
- How it is different from ordinary regression and/or discriminant analysis
How to Get Started- What hardware and software you need
- How to determine if you should use consultants, service bureau, or do it in-house
- What you can expect to gain in the first year
Outline is subject to change.
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