June 30, 2014
Hotel Indonesia Kempinski
Jl. MH Thamrin 1,
11:30 a.m.: Registration
12:30 p.m.: Lecture
1 p.m.: Q&A session
1:30 p.m.: Networking
Marketing Analytics and Big Data
Jean-Pierre Dubé, Sigmund E. Edelstone Professor of Marketing, Chicago Booth
The advent of vast customer databases presents marketers with incredible opportunities to learn about consumer behavior and, accordingly, to optimize and target marketing investments. But, the term "Big Data" is mostly misunderstood in practice and is often confused with the standard use of "marketing analytics."
The session will focus on defining what is new in the era of truly Big Data. Professor Dubé will also discuss some of the pitfalls of assuming that having massive sample sizes allows us to disregard everything we have learned about causal inference in the last half century. To that end, he will propose a three-part agenda to quantitative marketing analytics.
First, he will look at data-mining and tools for exploring and describing potentially fruitful association rules in very large (e.g., petabyte) databases. Then, he will look at testing and the assessment of a "causal effect" from a marketing investment. To motivate this component, he will also walk the audience through some recent large-scale experiments in digital marketing that illustrate how naïve correlation analysis can give the false illusion of huge ROI.