Tuesday - June 10th, 2014
Concurrent Sessions D

Understanding Predictive Analytics: The Past and the Future

The face of marketing research is changing. Using yesterday’s tools to gain marketing insights is akin to going to a gun battle with sticks and stones. Predictive analytics is emerging as the bridge between reasoned approach of MR and mindless iteration of big data analysis. To be relevant we need to meet the challenge.

Predictive analytics has come to the fore in the past few years because of big data, web analytics and availability of powerful open-source software like R. What was nearly impossible to do in predictive analytics just ten years ago can be done with ease now. Our results can be validated quickly and we can go much farther than sterile tests of significance.

But there is a lot of confusion about predictive analytics. What exactly is predictive analytics? Where does it fit in the spectrum of big data and web analytics? How to use predictive analytics effectively to gain marketing and consumer insights? How to make sure that your results are valid? How to make them relevant to marketers? This talk is designed to answer these questions and illustrate it with cases that have used predictive analytics successfully.


Dr. Chuck Chakrapani

 

Partner, Leger President, Leger Analytics

Dr Chuck Chakrapaniis President of Leger Analytics and Partner in its parent company Leger, the largest independent research company in Canada. Chuck is a Distinguished  Visiting Professor at Ted Rogers School of Management, Ryerson University, the Chief Knowledge Officer of the Blackstone Group in Chicago, and a past President of the Professional Marketing Research Society (now Marketing Research and Intelligence Association). He was formerly the Editor-in-Chief of the Canadian Journal of Marketing Research and of Marketing Research, a quarterly publication of the American Marketing Association. He is a member of the Board of Directors of the Marketing Research Institute International and is Master Editor for the Principles of Marketing Research Course, offered in collaboration with the University of Georgia.

Dr Chakrapani was formerly a Senior Research Fellow at the Centre for the Study of Commercial Activity where he now serves as the Industry Advisor. Prior to that he was the Chief Executive Officer of Millward Brown Canada. He has held academic appointments at the London Business School in England, McMaster University, University of Guelph and University of Liverpool.

Chuck specializes in research methodology and advanced statistical methods. Chuck was elected Fellow of the Professional Marketing Research Society for his "outstanding contributions to marketing research in Canada."  Chuck has been an invited speaker in England, the United States, Australia, Canada, Asia and the Middle East. He is the author of more than 10 books and 500 articles on marketing research and investments. His recent books include  Business Statistics(with Ken Black and Ignacio Castillo, 2014), Modern Marketing Research Step-by-Step (with Ken Deal, 2005, 2012 online edition), Statistics in Market Research (2004), Marketing Research: State of the Art Perspectives (2000), and How to Measure Service Quality and Customer Satisfaction (1998).