third-party customer data

Does Third-party Data Help You Better Understand Your Customers?

Simon Poole Marketing Analytics, Predictive Analytics

Is it worth appending third party data to better understand your customers? Invariably one will be in a better position to understand what their best customers look like. This is foundational knowledge for any marketer and can then be used to inform messaging and marketing communication. Moreover, third party data will enable more precise target marketing that can dramatically improve …

insights-to-action gap

Closing the Insights-to-Action Gap

Gary Robinson Insights, Marketing Analytics

A recent article in KDnuggets presented the four types of data analytics we encounter in data science: Descriptive, Diagnostic, Predictive and Prescriptive. This grouping is familiar to many. At Lityx we find Gartner’s analytic progression chart useful when explaining the types of analysis we can do and their relation to business value and complexity. In the article, the author notes, “When I talk …

Excel and Tableau Templates for a Population Stability Index Approach

Gary Robinson Marketing Analytics

In a previous post, ‘The Right Tool for the Job’, I included an example of a method for comparing groups of people, called the Population Stability Index (PSI).  It’s a useful approach for when there’s a lot of information and it would otherwise be time-consuming and inefficient to comb through hundreds of tables and charts to determine which variables are most …