R for Marketing Research and Analytics

• Activity Number: 582
• Type: Invited
• Date/Time: Wednesday, August 12, 2015 : 2:00 PM to 3:50 PM
• Sponsor: Section on Statistics in Marketing
• Author(s): Chris Chapman* and Elea McDonnell Feit
• Companies: Google and Drexel University

Abstract

In the past, marketing has been thought of as a "non-quantitative" domain and few marketers have been trained comprehensively in statistical methods. Much of the sophisticated analysis that is done in marketing is done by specialists using specialized software. In an effort to change this, the authors wrote R for Marketing Research and Analytics, the first text to teach R specifically for marketers from basics through advanced applications.

In this session, the authors describe the diversity of skills needed in quantitative marketing research from basics like visualization and tabulation to more advanced methods such as Bayesian analyses. In this presentation, the authors take a close look at two methods -- psychometrics and discrete choice modeling -- that are extremely useful in marketing and less common in other domains. They explain how each is used and demonstrate the methods with R tools.