Part 9: Ad Auction Part 10: Google Ads Quality Score
Part 7: Google Tag Manager [/trx_section][/vc_column][/vc_row]
Watch more… Part 2: Facebook Impressions vs. Reach Part 3: Conversions Part 4: Average Ad Position Part 5: Bounce Rate
This month we’re recognizing our team member, Jaime Stickler. She has been our trusty bookkeeper since way back in 2010. Jaime keeps our back office running smoothly while answering our customers’ accounting-related questions with speed and precision. When not acting as our bookkeeping ace, Jaime spends her time with her husband and three awesome boys.
If your website is still unsecured (http://), now is a good time to change that. Here are 4 reasons why: 1. A secured website improves your rankings. Browsers, like Google, favor secured sites. They want the best for their customers, so their algorithms rank HTTPS sites higher than similar sites that are unsecured. 2. A
A big shout-out to Stephanie, our featured team member this month. Stephanie is a Social Media Manager at MindEcology, having joined our team in October of 2015. What’s not to like about Stephanie? She’s hard-working, extremely personable, and has creative skills to beat the band. Stephanie has a formal education in photography, and her ability
At MindEcology, we pride ourselves on our ability to “play nice with others.” We see every other agency as a potential partner, rather than as a competitor. That’s one of the reasons we believe our Partner Program has become so successful. But there are others. We’re ALWAYS looking for a Win-Win-Win between your agency, your
MindEcology is proud of our track record of partnering with dozens of other agencies. In 2018, our mission is to build a stronger relationship with YOU. Since launching our new-and-improved program in January, 2018, we have received many questions from existing and prospective MindEcology partners alike. Here are 10 frequently-asked questions about our program: Q1:
Leah Armstrong is our Business Analyst & Conversion Specialist. Over the past 4 years, Leah has continued to keep our customers informed with insightful reporting and analytics-driven analyses. Leah also designs and implements our clients’ email nurturing campaigns, digital campaign reporting, the MindEcology Mind newsletter, and special analytics projects. A social media specialist, Leah
Anybody who reads the news is aware that Facebook’s CEO, Mark Zuckerberg, has been recently called to testify in front of Congress in order to address recent data breaches at the company. This has caused Facebook users to question their own Facebook usage habits and to think about just what is at stake. Is it
Social media is a booming industry. With over $41 billion in ad revenue in 2017, social media advertising is quickly eclipsing other more traditional forms of marketing. It certainly gets a lot of hype and all the marketing gurus agree that it is essential to have a social media presence. But is all the hype
MindEcology is proud to announce our new, expanded and simplified Agency Partner Program. This program makes it easier than ever for advertising, marketing, public relations and creative agencies and solo practitioners to augment their existing services quickly and easily. MindEcology’s co-founders, Darren Drewitz and Jed Jones, have a collective 50+ years experience working as professional
By Darren Drewitz, Strategy & Media Marketing trends come and go. Stats change. Here are 5 social media marketing recommendations that won’t change anytime soon for the destination-hospitality world. Inspirational Content 55% of travelers turn to social media pages they’ve liked while they are planning a future trip. 33% change hotels and 7% change destinations based
If you run display ads for your business, there are changes you need to know about. Google Chrome: Blocking Disruptive Ads What’s the news? Developers of major web browsers like Google Chrome are making the move toward blocking offensive ads. Where did they get this idea? They belong to a consortium called the Coalition for
We continue to hear about the coming of Artificial Intelligence (AI) to the realm of digital marketing. The buzz around AI is a mixture of hype and reality. The truth is, AI has been with us for some time and is ALREADY making an impact. Natural language processing (NLP), clustering and segmentation, search/filtering, chatbots and
David Drewitz, Managing Director – Denver, Colorado – We as consumers, have changed our behavior in the age of mobile technology, smartphones and multi-tasking. If you’re like most people, you will find yourself watching tv, checking Facebook and listening to Pandora all at the same time. This is exactly why data-driven creative is essential to
Every business owner and marketing manager wrestles daily with the same challenge: bridging what we call the “inaction gap” in their prospects’ brains. At MindEcology, we define the inaction gap as the space between when a prospect first hears about your product or service and the moment they actually making the conversion (… the moment
The digital world is a magical place. We can share virtually anything through voice, text, image, audio, and video with our friends and family. Most of us spend a lot of time in the great digital land; it’s become an ever-constant companion. However, as a marketer, what should be a really great place to find
Amazon Web Services (AWS) is the dominant cloud computing provider in the world. They host hundreds of thousands of other websites and apps via a cloud infrastructure, enabling those sites and apps to use precisely resources they need but nothing more. Very efficient, very smart. They are cloud computing gods. They are data experts. And
If you keep your eyes open, you can see good (and bad) examples of customer experience management everywhere you go. This morning I found an example of what to do at a local central Texas Sticker Stop store. Upon arriving on-site to get my car inspected for my Texas vehicle registration renewal, a series of
The season of annual trends and predictions blog posts is here. I know — I’ve written and posted a few myself. And with the New Year now here, I thought I’d share my three trends that we should return to in 2017. 1. It’s still about the benefits In a profession built on providing people
It’s that time of year again – parties, resolutions, and, of course, predictions for how the year ahead will unfold. Recently, I read a prediction list for digital marketing in 2017. It was very informative. Except for one thing… The prediction list was geared to big brands and Fortune 500 companies with a team of
Planning your 2017 marketing strategy and tactics? MindEcology’s Darren Drewitz and Jed Jones have some tried-and-true ideas to help you make your effort success. Marketing in a Decision-Making Vacuum Will Fail Seasoned marketers know that good marketing does not happen when carried out in isolation from other people. Nor does it happen in a way
A quick word about the fundamentals of Social Media from, our very own, Amanda Melendrez.
The other day, one of MindEcology’s co-founders had a “by the way”-type conversation with a family friend about the state of marketing at his small business – a restaurant he and his partners had opened eight months prior. We soon realized it would become a conversation that we’ve had all too many times before, and
Strategy Still Matters Even in the Age of Programmatic Buying Acid rock, alternative rock, blues-rock, ethereal wave, funk metal, punk jazz, southern rock. This is just a tiny sample of the 221 rock genres listed in Wikipedia. That is a lot of variations on a theme! At MindEcology, that kinda reminds us of all of
We made the call and you answered. We were jazzed to see how many of you were willing to share your biggest marketing challenge. Now want to take a look at the results with me? Of course you do. We don’t need a survey to tell us that everyone loves to know what their peers
If you haven’t yet taken a plunge into the marketing automation pool, you might be missing out on sales. According to survey stats provided by the Chief Marketing Officer Council, 84% of “top-performing” companies were already using or planned to start using marketing automation in 2015 – and 69% of those in the “already using”
In this article, MindEcology co-founder and chief strategist Darren Drewitz offers 5 tips for smart businesses who want better brand engagement: So tell us, Darren, what is brand engagement anyway? “Brand engagement is a $10 marketing term that describes the level of attachment that your audience members/customers have for your brand or business. Let’s say
September 2015: In this latest article in our ongoing series about social media marketing, we note 7 social trends and news items that should be on the radar of any smart content marketer: Periscope Video continues to rule the social media world when it comes to getting the most bang for your social buck.
In this article we sit down with Dr. Jed. C. Jones, co-founder of MindEcology and the agency’s chief data scientist, for a chat about audience definition and what it means for your business. Q: Jed, what is audience definition? “In the marketing world, it’s the process (and the outcome) of narrowing down and characterizing
There are just over 40,000 ZIP codes in the United States – and roughly 30,000 of them play host to people: households or businesses. (The remaining 10,000 are used for PO boxes and other specialty purposes). As experts in figuring out where our clients’ best prospects live, we at MindEcology can tell you everything you
This article is Part 4 in a series about successful advertising agency-client relationships. Read Part 1, Part 2, and Part 3. Evaluation is another critical element of successful agency-client relationships – whether you’re referring to the almost-subconscious, ongoing mutual evaluation process that agencies and their clients go through almost every day, or the formal “should
This article is Part 3 of a series about marketing and advertising agency-client relationships that rock. Read Part 1 and Part 2. Are you an agency who is celebrating a new client – or a client celebrating a new hire? Congratulations! Now the fun – and the really important stuff- begins in earnest. We’re talking,
Looking for a smart social media partner? Let’s talk. Facebook’s war on organic reach for brands has made it harder to score big content marketing wins on the platform – but that doesn’t mean that you can’t still achieve a nice ROI for your Facebook marketing efforts without spending a ton of money on boosted
Part Two in a series of article about effective marketing and advertising agency-client partnerships. Contact MindEcology to extend the conversation. Now that client has said “you’re hired” and agency has said “you’re signed”, what needs to happen next to make a strong start that leads to marketing and advertising greatness? For starters: Figure out the
First in a series of articles on effective marketing and advertising agency-client relationships. Contact MindEcology to extend the conversation. So you’re on the hunt for a killer advertising or marketing agency, because you’re ready to do some killer work. Let’s talk about some of the things that need to happen first, along the
Shopping for a full-service advertising agency partner? If so, “bilingual” should be at the very top of your wish list. By bilingual, we mean the ability to speak both data AND creative. At MindEcology, we predict that by 2020 the top 10 full-service ad agencies in any given major U.S. market will either have an
As part of a series of articles we’ll be publishing about the secrets of killer agency-client relationships, MindEcology co-founders Dr. Jed C. Jones and Darren Drewitz recently pulled up a couple of chairs and fielded questions about the insights they’ve gathered in a combined 40 years of experience in the marketing/ad game. Here’s what happened:
If your business is looking pretty good these days, congratulations. That probably means you’ve got smart products, smart services, smart people, and you’re pretty smart yourself. So what’s next for you? Are you going to open up more locations? Hire more talent? Go to Disney World? They all sound like great ideas – but
If going home at 5 p.m. seems “early” to you, Saturday and Sunday afternoons are “great times to catch up”, you never seem to chug through your to-do list no matter how long you stay at your desk, and you’re constantly doing battle with Time Vampires (people and things that suck up your time
By some estimates, there are more than 120,000 marketing and advertising agencies in the U.S. alone. It’s no wonder, then, that so many of us have gone to great lengths to craft clever brand identities that we hope will differentiate us from the guys down the road. Ready to start a conversation with MindEcology?
Ready to start a conversation with MindEcology? Let’s talk. Does the B2B content marketing experience have to be a snooze fest in order to be informative? Apparently not, or a brand like Intel wouldn’t be bringing in 2 million readers each month, according to this recent article. Sure, some of their content consumers may be
If you’re ready to start a conversation, we’re ready to talk. Contact MindEcology. If you’re thinking about hiring an advertising or marketing agency – or wondering if you’re ready for it – or if you’re not sure how to get the conversation started – or if you just want to know the meaning of
It’s an age of niche marketing, hyper-targeted segmentation, emerging platforms, and shifting consumer demographics. So it’s not surprising that with respect to marketing strategy and exection, it’s also an age of serious specialization. In the last decade or so, it’s become commonplace to find even mid-sized or smaller businesses using one agency for
Your social media posts are performing well, your pay-per-click ads are getting traction, and your direct mail campaign never looked better. But somehow, your sales are flat. Could it be that your website isn’t a closer? Some of the signs that your website isn’t getting the job done are: – You’ve been around a while,
“We need a great ‘slogan’.” “I want something really edgy.” “Let’s do something really funny like the Geico camel.” “Bright colors. Really, really bright colors.” “I love this font.” “Whatever it is, we have to use Twitter.” “I want something we can submit for an award.” “What’s our emotional paradigm?” When it’s time to develop
There’s an old expression that maintains that a camel is actually a horse that was designed by a committee. We don’t want to knock on camels – they’re pretty cool and all, given their celebrity status as superstars of the Geico campaign. But we’re definitely not fans of creative that happens by committee. And if
If you chose your last marketing services provider based on an “I know a guy”-type recommendation from a friend, you may have your eye on the wrong ball. The term “marketing services” applies to everything from media buying to web design to research to creative development – and many, many more. To perform any of
Let’s pretend for a few moments that the practice of marketing is a universe, and the hundreds of marketing disciplines and sub-disciplines (like branding, marketing research, etc.) represent the galaxies, solar systems, and planets within that universe. That’s going to be one busy universe. Besides being well-populated, there is going to be a lot of
If you’ve been in marketing or advertising for more than a minute, you’ve probably worked with (or for) someone who always seems to be in the middle of everything, but doesn’t really make any strategic contributions. Let’s take a look at some of the worst offenders when it comes to non-strategy: THE SELF PROMOTER: Characterized
While the cult followings enjoyed by brands like In-N-Out Burger, Trader Joe’s and Apple may be difficult for non-consumer businesses to achieve, there’s no reason why B2B brands should consider themselves limited when it comes to tactics they can employ to craft a strong, personality-rich brand image. Too many B2B companies, however – in many
Advertising agency and client relationships usually fall into three categories: Contentious, unremarkable, or effective. The formation of strong working partnerships takes time, effort, and a little bit of luck – and some strategy. Based on our experience, here are some of the elements we see as essential to achieving agency-client awesomeness: Smart Discovery Thorough discovery
Due to the nature of our work, marketing and advertising professionals have extra challenges when it comes to time management. To a greater extent than many other professions, we’re expected to deal with shifting or competing priorities, last-minute client requests, client-orchestrated delays, and crises that require fast action. In this type of environment, even marketing
Missed deadlines, campaigns that don’t come off, and an ever-growing list of tasks that just never happen are all symptoms of a marketing program that clearly needs some intervention. If none of these indicators can be accurately attributed to your program, congratulations. You must have everything under control. Or do you? The fact is that
It’s the end of the year, and you’ve made most of your sales goals. Maybe all of them. And things seem to be generally “moving along” for your business. All good news. So your marketing strategy must be working, right? Or maybe you don’t have any strategy at all – and you’re thinking that you
One of our most favorite moments of the year looms just ahead. (No, it’s not National Data Nerd Day. Though that would be awesome.) It’s the new year, a time of fresh beginnings and opportunities for new accomplishments. There’s nothing quite as satisfying as opening up a crisp new notebook or calendar and surveying the
Let’s talk for a minute about Paul Revere. (The American historical figure, not the Beastie Boys song.) Image courtesy of Encyclopedia Brittanica On the eve of the Battles of Lexington and Concord that kicked off the Revolutionary War, patriot and Boston silversmith Paul Revere embarked upon an historic horseback ride to warn the colonists of
With the holiday hustles and hassles also come a number of opportunities for marketing and advertising agencies (and other businesses, too) to build relationships with existing clients and get in front of new ones – as long as you’re willing to get creative and do a bit of advance planning. If you need a jump-start
MindEcology team members are big believers in networking, volunteering, and association membership. We’re especially involved in the local chapters of the American Marketing Association (in both Austin and Dallas) – in fact, one of our principals is a very active AMA volunteer, having served multiple years as an officer or committee head. Another one of
Marketing research types like us are all kinds of crazy about data. But even though we’re unabashed data nerds, we know that not everyone’s idea of a good time is sitting around and talking about analytics intelligence, predictive modeling, and best customer profiling —even if they work in marketing or advertising. Some marketing pros or
In an earlier post we talked about how tactical marketing mistakes (like an ad with the wrong phone number or 25,000 misprinted postcards) can be costly, but not nearly as costly in the long run as business marketing strategy misfires. Similar thinking can be applied when comparing mediocre marketing to marketing that’s thoughtfully and strategically
“Are you using your whole brain on that marketing problem?” This question could be taken in many ways. But when viewed through a neuroscientific lens, “whole-brain thinking” means using both analytics (left-brain thinking) and creativity (right-brain thinking) to perceive a situation and make decisions that will effect favorable change. In the context of marketing, here
When “mistake” is used in a marketing context, you might think of 20,000 direct mail postcards printed with the wrong phone number, or a well-meaning Twitter hashtag gone wrong. And no wonder, as misfires like those can certainly prove costly. That’s why many marketing pros will take preventive action up front – like hiring a
After weeks of internal wrangling, your company finally has a “messaging platform” – a document outlining your business’s key talking points that everyone has agreed to use. Congratulations! Now what? Most of the time, marketing sages discuss the idea of marketing messaging (also known as brand storytelling or corporate messaging) in the context of “why”
Most lead generation takes the form of prospect lists, glad-handing at networking events, or waiting for someone to respond to a website form or other digital marketing call to action. These tactics can prove fruitful, but they have downsides. Some are very time consuming, and they either require you to go out and look for
Web analytics have been around since the Internet was invented. They simply have gotten a whole lot better over the years. Still, unless you are driving traffic to specific PURLs (personalized URLs) designed to make personalized offers to specific individuals, most analytics tracking today is completely anonymous: it cares about individuals only in the context
Our collective ability to store massive amounts of data continues to increase. In a recent development, Sony has announced a new tape cartridge meant for long-term storage that can hold 185 terabytes of data per cartridge. (1 terabyte is equivalent to over 1,000 gigabytes). But even as we continually increase our capacity to store more
The world’s top marketers have at least one thing in common: they are vigilant about keeping close tabs on which marketing activities are paying off for them – and which are akin to just pouring money down the drain. Now, you can put the power of integrated reporting in your own hands for your marketing
If you sell goods or services, you almost certainly have some form of marketing in place. Marketing can be defined as anything that promotes awareness of your offerings to others. It can be as simple as your choice of business card or store sign to something as complex as a multichannel, integrated, and interactive promotional
Midterm elections are coming up. If you are advertising on behalf of a particular political candidate or special interest group, it would be natural to want to target a subset of all possible households in your area that fit your target profile. This could be, for example: “Republican,” “Democrat,” “Independent,” or “Undecided.” But, how do
Whether you are a small business owner responsible for marketing, you are a marketing manager, or you are the VP of marketing at a Fortune 500 corporation, you are being held accountable every day for your decisions – by somebody. Small business owners answer to themselves, their partners and their families. Marketing managers answer to
We came across this handy article by BI company Domo, “The 5 KPIs Every Marketer Should Be Looking At.” As a huge proponent of data-driven marketing, MindEcology wholeheartedly supports the idea of setting key performance indicators, or KPIs, for every marketing initiative. We are echoing the article’s 5 KPIs here, while elaborating on each and
Traditional database marketing techniques have been in use for years by companies seeking to target their best customers. For the uninitiated, database marketing involves analyzing your historical customers in terms of their transaction history with a company. Database marketers will often speak of “RFM”: which together stand for “recency, frequency and monetary value.” By segmenting
“NSA, snooping, spying, violation of personal privacy, Big Brother.” These are just some of the buzzwords that come to mind these days when most of us hear the term “data mining.” At MindEcology, we are here to tell you that data mining is not evil. At least not inherently. Of course, like any effective tool,
What does your best prospect look like? Many business owners answer this question something like this: “Everybody could benefit from our product or service, so I suppose that everybody is my best prospect.” Thinking this way about one’s prospects represents an all-too-common, often fatal flaw in any marketing plan. It no doubt costs companies large
If you have ever served a marketing role within your company, you have no doubt felt the heat from sales on more than one occasion. In fact, that feeling is palpable on a daily basis for many marketers. For members of a marketing department, it is easy to feel like the “also ran” group as
Are you interested in getting up to speed on Google+? If so, and you live in the greater Austin, TX area, we encourage you to check out this RISE event coming up on Wednesday, May 15th: How to Use Google+ to Grow Your Business.
At MindEcology, the clients that come to us for marketing guidance usually find themselves in one of two boats: 1. Business is strong and they want to make it even stronger by egaging in data-driven, customer-centric marketing or 2. Business has been tanking for some time and they are looking for a last-ditch effort to
So, you are creating some new banner ads in order to increase traffic to your website. You may be setting up your new banner ad campaign as a remarketing campaign or just a standard “spray and pray” campaign targeting everybody. Similarly, it could be set up as pay-per-click or as pay-per-impression. Regardless of these decisions,
Retargeting – a.k.a. remarketing – is one of the best-kept secrets in the online world. It’s actually no secret, but since it is still under-utilized by most companies, it might as well be a secret. What is retargeting, anyway? It is a way for you to show banner ads on third-party websites to people who
“How can I increase my sales revenue?” This is a question that any good business owner, manager or sales professional asks themselves on a regular basis. A time-tested approach to finding the right answer for your company is to make sure you have covered 4 Ps of marketing: product, price, place and promotion. Getting each
Do you know your own customers? Probably so. In fact, you probably know them quite well. For example, you may know your best customers by name. You may even know their kids’ names. You may know their favorite (color, size, style, flavor) of products you sell to them. But however well you know them, it
Those charged with selecting a new location for their store, restaurant, or other type of retail company have a big job in front of them. After all, the stakes are high when making a decision like this. Making the wrong choice could mean the loss of hundreds of thousands of dollars or more over the
“Information, that is imperfectly acquired, is generally as imperfectly retained.” – William Playfair, Scottish political economist and inventor of the time-series graph, 1786 Every day, your business is generating data. Data about itself. Data about your customers and your prospects. If you are like 99% of existing small and large companies alike, you are not
Interested in buying media “direct from the source” – such as a television station, radio station, billboard company, newspaper, or magazine company? At first glance, circumventing a media buying agent and buying direct seems like a good decision. After all, you are saving yourself the 15% commission that the agent/middle man would be receiving if
There is a lot of talk these days about big data, analytics, and the cloud. And with good reason. Every business these days – large and small – generates copious amounts of data about itself. And, that data is becoming increasingly easy to collect, organize, and analyze. In his recent article, “We don’t need more
At MindEcology, we love what we do, so we often find ourselves engaging in “shop talk” with casual acquaintances, people in the elevator, and most anybody else who shows any interest. We like asking people about their company’s business model. We also enjoy hearing about their biggest challenges and pain points. We ask because we
The emerging field of location intelligence represents the convergence of two modern technological wonders: advanced digital mapping systems and database-driven analytics. It can be applied to almost any field, but it is finding a particularly strong foothold in the realm of competitive business intelligence. While the term “location intelligence” sounds like it should be reserved
Cities and towns across the United States have something important to gain from recruiting new retailers to set up shop locally. That something, of course, is increased sales tax revenues. Given the importance of sales tax revenues to the local economy, smart economic development centers, chambers of commerce and CVBs have a vested interest in
How does predictive modeling work? A recent article describing how to predict medal counts by country yields some interesting parallels with our own best customer predictive modeling process. Researchers at a German university recently built a predictive model to determine which countries will win the most medals during the 2012 Summer Olympics in London. The
Numerous modern thinkers have made the important distinction between data, information and wisdom: they are clearly not the same thing. When it comes to business intelligence, we want to collect the right data, consolidate it into meaningful information, and apply our own wisdom to interpreting that information to our benefit. On the surface of things,
For CEOs, company presidents, and directors of marketing alike, there are seemingly hundreds of micro decisions that need to be made every day. Most of these decisions – or at least the most important ones – boil down to the single question, “Is this the best use of our time/money/resources, or would an alternative use
Predictive analytics have been in use in the business world for decades. But today, there are three trends converging that give small and midsize companies the ability to leverage predictive analytics for their own marketing decision-making: 1. The WHERE: The advent of the affordable desktop and laptop computer 2. The HOW: The creation of desktop
We have a new video for you (see below). But first, some introductory thoughts: At MindEcology, we see essentially three ways to approach customer segmentation: 1. Simple segmentation: this is the easiest method, but also the most limited in terms of its potential applications. Simple segmentation involves grouping your current customers by total annual revenue
Seth Godin’s book, “Tribes,” is full of great insights. One of the quotes I like best from this book sums up the MindEcology approach to marketing very well: “Almost all the growth that’s available to you exists when you aren’t like most people and when you work had to appeal to folks who aren’t most
It was Lord Leverhulme, British founder of Unilever, who said, “Half the money I spend on advertising is wasted, and the problem is I don’t know which half.” Similarly, anybody working in business faces a difficult dilemma on a daily basis: we know that we MUST commit money and resources to promoting our business if
Site selection is the process of choosing the ideal real estate location for the purposes of building, buying or leasing an office or retail business facility. Business that often require site selection include both business-to-consumer (B2C) and business-to-business (B2B) concerns. The tricky part, of course, is to take into account as many relevant factors as
If you have ever spent some time thinking about your customers, one of the natural questions that has probably come to mind is, “Who are my customers? What type of people buy from me?” Indeed, if you are already asking yourself these types of questions, you are already ahead of the game: most business owners
Segmentation and target marketing have been around for decades. However, new technologies such as CRM solutions, relational databases and point of sales (POs) systems have given small and mid-size businesses the tools they need to do effective targeting.
As the name implies, a geographical heat map employs a color scale in order to differentiate between various attributes of a geographical area. Various colors (say: red, orange, yellow, green & blue) are assigned to different geographical units (sub-sections) within a trade area as a way of indicating the attractiveness of each sub-section of the trade area in question.
Check out our latest video – MatchPoint Analytics from MindEcology
In marketing speak, the two related practices of segmentation and targeting go hand-in-hand.
Each of these questions can be answered – in part or in whole – by applying the right data analytics, data mining, and/or predictive modeling strategies.
Initially, most people who are inexperienced with making such an estimate are over-confident, thereby assigning lower and upper limit values that result in a range that is too narrow (and therefore, more likely to be incorrect).
This month, a California judge ruled that retail firms are no longer allowed to request a credit card holder’s zip code at the purchase point.
The process of data mining refers, in general, to the act of applying various mathematical and statistical techniques to massive amounts of often disparate data in the hope of teasing out significant details. These details can then be leveraged for future (usually business or scientific) endeavors. To make data mining work, one requires access to
Studies have shown that for most companies, the data they have lurking in file folders, electronic media, and in the heads of employees is one of their most under-valued assets.
Every businessperson makes decisions every day – literally hundreds of them. Most of these are micro-decisions. Micro-decisions are those little split-second decisions we all make throughout the course of our day, such as: whether to backup your computer files now or later, how to word the e-mail to that prospective client, how much cream to add to your coffee, etc.
Predictive modeling is all about leveraging historical business data to predict the likelihood of future success.
But hold on moment: if this assertion is correct, its very premise seems to go against that now-infamous – yet ubiquitous – cautionary phrase found on advertisements for investment opportunities anywhere they appear in print:
Past performance is not necessarily indicative of future results.
For multi-unit franchise organizations, deciding just where to put their next location for a store, restaurant or service center can be a daunting task. Data-driven site selection techniques can help.
People are often surprised when we self-ascribed data nerds at MindEcology demonstrate to them just how much useful information is hidden within their database. Our reports and analyses reveal things about their business that are immediate, insightful and actionable. It is a very satisfying feeling to present one of our reports to our customers and
At MindEcology, when we engage a new client for an analysis, we always start with a look at their database in its raw state. Depending upon the project, the data could consist of customer names, mailing lists, order history, or product catalogs, for example. It is the rule, rather than the exception, that most customer
Market segmentation is the art and science of dividing your customers into groups, or segments, in order to better target the right ones with the right advertising message and/or media. In fact, in some cases the results of a segmentation analysis can even suggest that you should completely “step over” or avoid certain customers or