About this Course
4.2
33 ratings
4 reviews
Specialization
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Intermediate Level

Intermediate Level

Hours to complete

Approx. 11 hours to complete

Suggested: 3 hours/week...
Available languages

English

Subtitles: English...
Specialization
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Intermediate Level

Intermediate Level

Hours to complete

Approx. 11 hours to complete

Suggested: 3 hours/week...
Available languages

English

Subtitles: English...

Syllabus - What you will learn from this course

Week
1
Hours to complete
2 hours to complete

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...
Reading
3 videos (Total 40 min), 2 readings, 1 quiz
Video3 videos
Applications of Randomness & Probability12m
Assessing the Value of Information14m
Reading2 readings
How Customer Analytics is Speeding the Cure for Parkinson's10m
Data Driven Donor Management24m
Quiz1 practice exercise
Module 115m
Week
2
Hours to complete
3 hours to complete

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. We will use this tool to evaluate the best course of action for a particular business problem....
Reading
1 video (Total 33 min), 4 readings, 1 quiz
Reading4 readings
Inventory Exercise for Excel Demonstration10m
Explained: Monte Carlo Simulation10m
How Our 2016 MLB Predictions Work10m
The Advantages of Monte Carlo Simulations10m
Week
3
Hours to complete
2 hours to complete

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 distributions that can be used to model uncertainty, depending on the nature of the data. We examine the application of these probability distributions to assess the likelihood of events using features within Microsoft Excel....
Reading
5 videos (Total 51 min), 1 reading, 1 quiz
Video5 videos
Properties of Random Variables8m
Steps in Using Probability Functions10m
Normal Distribution & Other Probability Models10m
Warnings in Modeling Uncertainty6m
Reading1 reading
Employee Yield Worksheet10m
Quiz1 practice exercise
Module 310m
Week
4
Hours to complete
5 hours to complete

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 customers' use of the warranty plan using the Poisson distribution. Using Microsoft Excel, we design a spreadsheet tool that enables a user to adjust features of the service plans. By comparing firm profit under different scenarios, we investigate how different features of the service plan result in risk being shared by the consumer and the firm....
Reading
4 videos (Total 58 min), 4 readings, 1 quiz
Video4 videos
Company Constraints & Decisions6m
Questions to Investigate7m
Extended Service Warranty Excel Exercise34m
Reading4 readings
Should You Get An Extended Warranty?10m
Don't Buy Extended Warranties10m
Designing Extended Warranty Plans - Instructions & Excel Spreadsheet10m
Poisson Distribution Excel Sheet10m
4.2

Top Reviews

By JPJun 13th 2017

In one word: USEFUL. And that is a lot these days. I use the concepts (and excel tools) everyday!

By SIJun 5th 2017

Great course with very applicable skills for professional or personal life.

Instructor

Avatar

David Schweidel

Associate Professor of Marketing
Goizueta Business School

About Emory University

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....

About the Foundations of Marketing Analytics Specialization

In this specialization you will learn how to: • Find, extract, organize and describe data to support business decisions • Identify, quantify and interpret relationships between variables • Derive customer insights from your data • Develop spreadsheet models to analyze data, evaluate risk and optimize business decisions • Present and justify a course of action to management The capstone project will give you an opportunity to apply what has been covered in the specialization to solve a marketing analytics problem....
Foundations of Marketing Analytics

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

More questions? Visit the Learner Help Center.