ABSTRACT
Marketing which always aimed at developing insights about the customers and markets is the most essential part of the business. The domain which is dynamic in nature also had its challenges in capturing the changing mindsets of customers, volatility of market and the big data of consumer buying and behavioural patterns. Though it the challenge for any industrial domain to handle its voluminous data for the decision making, analytics came as the saviour to all those problems. Analytics, a data driven techniques opened its way for marketers specially in using the existing data with the help of analytical methods and techniques by sophisticated software’s available to model it. Analytical models available can enhance the decision making with the informed data decisions. With respect to the marketing, there are multiple applications can be achieved such as segmenting the customers using clustering methods, customer choice modelling by conjoint analysis, sales and revenue prediction by single and multiple linear regression models, consumer’s buying choice by classification models, consumer sentiments prediction by text analytics, purchasing pattern by association rule mining, resources allocation models, campaign evaluation models 2etc. Marketing analytics with the help of analytical models and statistics extends its application starting from buying patter and budgetary allocation. This chapter explains in details from the evolution to application of analytics in marketing domain.
