28 Mar 2017

Data Analysis in Marketing - Do's, Don'ts and Challenges

Prof. Arnab K. Laha

Prof. Arnab Kumar Laha is a member of the faculty of Indian Institute of Management, Ahmedabad (IIMA). He received his doctoral degree in Statistics from the Indian Statistical Institute preceded by the bachelor's and master's degree from the same institute. His areas of specialization include Data Analytics, Quality Management and Risk Management. He was featured among India’s best business school professors by Business Today in 2006 and by Business India in 2012. He was also named as one of the 10 most prominent analytics academicians in India by the Analytics India magazine in 2014. He is the author of the popular book on analytics entitled “How to Make the Right Decision” which has been published by Penguin Random House.

Prof. Laha’s main areas of research interests are Robust statistics, Directional data analysis, Functional data analysis, Streaming data analysis, Rank data analysis and Quantitative risk modeling in financial and commodity markets. He has published more than twenty peer-reviewed research papers and book chapters in national and international journals and edited book volumes published by internationally reputed publishers. He has presented his research work in more than forty national and international conferences and has given seminars and invited lectures at more than ten institutions in India and abroad. He is the convener of the biennial IIMA International Conference on Advanced Data Analysis, Business Analytics and Intelligence and the annual IIMA International Conference on Advances in Healthcare Management Services. Further, he organizes the annual IIMA workshop on Healthcare Analytics and the IIMA Summer School on Advanced Research Methods in Healthcare Management.

Prof. Laha is the Faculty-Chairperson of IIMA Executive Education Programmes (EEPs) on Advanced Analytics for Management, Advanced Quality Management, Risk: Modeling and Management and the Data Analysis for Healthcare Management. He has been associated with several reputed organizations as a Consultant and has conducted large number of training programmes on data analytics, quality management and risk management for large corporate organizations.

A variety of types of data arises in different areas of research in Marketing. Some of the common types are numeric, ordinal, nominal, rank, functional and text. The researcher may be interested to analyse the data that pertain to each variable separately or may be interested in understanding the relationship among several observed variables. All these different data types have different methods of analysis and it is very important to carry out the right type of analysis to get meaningful answers to a researcher's questions. In this talk I intend to address this issue and suggest some do's and don'ts. Some methodological challenges that arise when data of different types are analysed together will be highlighted.