Unique Content Article: What is a Correlation and How Do I Use it for Marketing Strategy

<h2 class = 'uawtitle'>What is a Correlation and How Do I Use it for Marketing Strategy</h2><br />
<div style='font-style:italic;' class='uawbyline'>by Pete Waterland</div><br /><br />
<div class='uawarticle'>Please allow me to shed some light toward a popular misnomer in today's terminology and in marketing-- the word, correlated. The phrase has been certainly used in marketing for years, perhaps behind the scenes or when marketing a product to a target audience. Consider high cholesterol medicine, for instance. Marketers have skillfully indicated that these items help eliminate heart complications because cholesterol and cardiovascular disease are correlated. A little something isn't really right here though.<br />
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Marketers, specifically those concentrated on data marketing, should beware that a correlation involving two groups of data does not suggest that that one dataset influences the other. Put simply, a correlation does not offer statistical affirmation of a cause-and-effect connection. I'm not stating that it wasn't fantastic marketing to mention the correlation among cholesterol and cardiovascular disease, nevertheless beware establishing your marketing judgments simply on correlations in your database.<br />
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Did you know that the event of diaper rash and construction is exceptionally correlated? Does this signify that one triggers the other? No. The missing connection is hot climate. Diaper rash and construction both happen to take place throughout the hot times of the year, but neither one are immediately associated with one another (at least to our knowledge).<br />
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Regrettably, marketers have contributed to generating some complexity about this topic, so think of this our effort to help put the record straight at the very least in the marketing world. Correlations can help direct your marketing choices, but do not always totally trust in them. When you study your audience and just how they reply to your marketing, take a second to think about one level below what the correlations are showing you. Is it truly only because they're males that they are responding far better? Is the real cause the aspect that they're in between the ages of 18 and 24? Digging deeper utilizing sophisticated data marketing or having a closer look at your target audiences' characteristics should expose a clearer image of what actually leads them to act.<br />
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If you have enough time and capabilities, run a statistical regression analysis to help find the variables that genuinely result in greater tendencies to react. With adequate information and time, a proficient marketing staff can anticipate the actions of a market with exceptional reliability, permitting you to segment groups that openly respond.<br />
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And just remember, next time you watch that cholesterol commercial do not be so speedy to drop your tasty kielbasa grinder. You can eat with a much less sense of guilt, understanding that unhealthy fate is merely correlated.<br />
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<div class='uawlinks'>If you're after another useful source for great <a href="http://strategicmarketinghq.wordpress.com/2012/10/16/the-rules-of-strategic-marketing/">marketing strategies</a>, you ought to go visit this post on <a href="http://petewaterland.livejournal.com/683.html">strategic marketing for email</a>.</div><br />
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New Unique Article!<br />
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Title: What is a Correlation and How Do I Use it for Marketing Strategy<br />
Author: Pete Waterland<br />
Email: petewaterland@yahoo.com<br />
Keywords: database marketing, marketing analytics, marketing correlations,marketing, data marketing,business<br />
Word Count: 422<br />
Category: Marketing<br />
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