This group is for data scientists, marketing researchers, media professionals and business strategists who want to apply advanced analytics in the fields of marketing, advertising, media, human resource analytics, political polling, or branding. We also invite anyone who is searching for data-driven business solutions or would like to learn about the next generation of data to C-suite strategies. We will be holding monthly events on the advanced application of data strategy to business outcomes.
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PREDICTIVE ANALYTICS IN THE STREAMING WORLD: ONLINE STREAMING VIEWS FORECASTING
This is a mocked up case study illustrating how a major online content provider—we’ll call them GoFlix—uses respondent user data to understand their customers’ opinions and reliably predict sales of their non-hit content rentals.
GoFlix has a large online subscriber database with a large amount of personal information. Each month, subscribers are surveyed and asked to give purchase intent for new content that will become available on GoFlix. The goal—to be able to gauge how many online rentals they can expect for various content. The challenge—how reliable are the stated opinions of the subscribers’? How can GoFlix Productions use their subscribers’ opinions and demographic data to accurately predict online rentals?
In this presentation, we will demonstrate how multivariate statistics is put to use to provide a greater understanding of predictive sales. We apply Crystal Ball software to Microsoft Excel spreadsheet models to perform probabilistic analysis and Conditional Demand Analysis. Simulation techniques that flow from multivariate analysis into clever use of the Monte Carlo method that can provide business need estimating that is client ready and actionable.
Key Points of Presentation:
~ How do demographics used to assess reliability of purchase intent?
~ How should GoFlix Productions set rental expectations?
~ How to pinpoint which factors are the most important in online rental prediction?
~ How to use the results to make better decisions regarding promotion?
5:00 p.m. to 5:15 p.m. ~ Introductions
5:15 p.m. to 5:45 p.m. ~ Keynote Speaker: Michael D. Lieberman
5:45 p.m. to 6:00 p.m. ~ Open Networking and Close of Meeting
Michael will give a 30-Minute Presentation.