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Recommendation Engines in Marketing Analysis
Recommendation engines, the concept of RFM and market basket analysis are covered in this free online marketing course.
Description
This comprehensive guide will introduce you to understanding the functions of different recommendation engines and teach you how to use the recency, frequency, monetary (RFM) technique as a tool to segment customers in marketing analysis. It begins with an analysis of collaborative filtering in marketing analytics, looks at the problems faced in retail analysis and sees how it can be used to solve real-life challenges in marketing analytics.
Next, you will learn about recommendation engines for ecommerce firms, as well as how to monetize a long-tail search strategy with surprising recommendations. You will also study how to use RFM analysis in R (the language and environment for statistical computing and graphics) with a real data set in marketing. Then discuss the analysis in R for segmentation through purchasing behaviour. You will also study the concept of market basket analysis, as well as how it can be used in retail and ecommerce ventures. Finally, you will grapple with the data mining technique, how an advanced version of the algorithm can be used for large data sets, and the features of collaborative filtering in marketing analytics.
This free online course provides practical knowledge and numerous applications of RFM and market basket analysis, as well as collaborative filtering and cluster recommendation engine approach to ensure a great learning experience. IT will be of use to digital marketers, programmers and anyone interested in using marketing analytics for ecommerce.
Start Course NowModules
Recommendation Engine and Retail Analysis
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Recommendation Engine and Retail Analysis - Learning Outcomes
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Recommendation Engine
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Collaborative Filtering
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Hands-On Item Collaborative Filtering
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User Collaborative Filtering
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Application of Recommendation Engine
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Working with Sparse Datasets
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Recommendation Engine and Retail Analysis - Lesson Summary
RFM and Market Basket Analysis
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RFM and Market Basket Analysis - Learning Outcomes
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Recency Frequency Monetary Technique
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Recency Frequency Monetary Analysis in R
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Market Basket Analysis
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Data Mining Technique
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Market Basket Analysis Hands-On
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RFM and Market Basket Analysis - Lesson Summary
Course assessment
Learning Outcomes
Upon completion of this course, you should be able to:
Analyze the application of the recommendation engine for an e-commerce firm
Discuss the use of the collaborative filtering method in the recommendation engine
Identify the practical approach to collaborative filtering in marketing
Explain the concept of recency, frequency, monetary technique
Discuss the use of RFM analysis in R with a real data set
Describe how RFM analysis can be done in Excel
Analyze the application of market basking analysis in marketing
Certification
All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:
Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning
Alison offers 3 types of Certificates for completed Certificate courses:
Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping
All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.
