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Managing Uncertainty in Marketing Analytics
Course
en
English
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- Self-paced
- Free Access
- Fee-based Certificate
- 4 Sequences
- Intermediate Level
Course details
Syllabus
- Week 1 - Randomness and Probability
Module 1 focuses on developing an understanding where randomness appears in marketing problems. You will learn basic rules for calculating the probability of outcomes. We will also examine how these rules can be applied to determine the value of information - Week 2 - Conducting Monte Carlo Simulations in Excel
Building on the basics of randomness and probability discussed in Module 1, we examine the use of Monte Carlo simulations for incorporating randomness into business problems. Using Microsoft Excel, we will build a tool that conducts a Monte Carlo simulation. W... - Week 3 - Using Probability Distributions to Model Uncertainty
In Module 3, we look at the use of probability distributions as a means of characterizing uncertainty. We initially look at how uncertainty is incorporated into a general decision making framework. We then turn our attention to different probability distributi... - Week 4 - Application: Designing Extended Service Warranty Plans
Building the the discussion of probability distributions in Module 3, we apply this knowledge to a specific application: the design of extended service warranty plans. We provide an overview of the business problem and discuss how to incorporate uncertainty in...
Prerequisite
None.
Instructors
David Schweidel
Associate Professor of Marketing
Goizueta Business School
Editor
Emory University, located in Atlanta, Georgia, is one of the world's leading research universities. Its mission is to create, preserve, teach and apply knowledge in the service of humanity.
Platform
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