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MBA Marketing Analytics Specialization

The field of (Marketing) Analytics is witnessing worldwide growth and has been called the “sexiest job of the 21st century” (Harvard Business Review). Demand for managers with the ability to use (big) data analysis to make effective decisions is growing rapidly. McKinsey & Company forecast a shortage of 1.5 million such managers in the United States alone and PwC suggests that firms will therefore need to compete fiercely for individuals with strong analytics skills and business knowledge. The Foster School of Business is particularly well suited to address these needs as the Seattle metro area is home to several major companies who use the most innovative practices in business analytics such as Amazon, Microsoft, Expedia, and Starbucks.

Marketing Analytics courses

To prepare students for these opportunities, the Marketing Analytics Specialization trains students how to use cutting edge analytics to better direct a wide variety of marketing decisions. The specialization in Marketing Analytics consists of three courses: Customer Analytics (MKTG 562), Analytics for Marketing Decisions (MKTG 564) and Digital Marketing Analytics (MKTG 566).

  • Customer Analytics (MKTG 562) introduces statistical modeling and coding techniques that help individuals manage the customer relationship from acquisition to development to retention. Special attention is directed to models that help firms appropriately value customers and target them with the right offer at the right time.
  • Analytics for Marketing Decisions (MKTG 564) identifies analytic models that can be applied to real, large-scale databases to improve and automate firm-level marketing decisions. In particular, analytics are used to improve decisions around product design, pricing, promotion/advertising, and digital and mobile channel management.
  • Digital Marketing Analytics (MKTG 566) covers search and display advertising, email marketing, attribution models, social media strategies, and two-sided platforms. The course takes a quantitative and data-driven approach for analyzing and improving digital marketing strategies.

Note that while these courses are designed to be taken in sequence, they can also be taken as standalone courses (i.e., they are not required as prerequisites for each other).

A common theme throughout the specialization is the use of real data and the implementation of models using the free programming language R. R is quickly becoming the standard in this space and, like Wikipedia, provides an adept user with a very large set of existing code and packages to be used in the quest to extract insights from marketing data. A key benefit of learning to use R is that students can take the models they learned in the specialization to their careers without the need to buy costly software.

Support for the Marketing Analytics Specialization from leading professionals

Marketing and customer analytics are becoming instrumental to the functioning of companies in our data-filled age. Having students prepared with an understanding of the fields, and how to use modern tools such as R, is extremely helpful to companies like Lenati. These are the same techniques and tools we use when we at Lenati consult with Fortune 500 companies.
Jonathan Nolis, Director of Insights and Analytics, Lenati
Customer analytics are at the core of every important decision in a modern organization. Mastering analytical thinking and having hands-on experience with large data sets and analytics tools are major advantages for anyone entering the workforce in product management, marketing, finance or operations.
John Busby, Head of Analytics and Insights, AmazonFresh
Leaders are expected to make smart decisions. But today’s world has a new problem – it’s overwhelmed by data. With the right tools and analytics background you can pull out insights to make decisions faster and smarter than your peers. Customer and Marketing analytics courses from UW Foster’s School of Business will give you the exposure and analytics background for real-world problems to tackle tomorrow’s challenges.
John Gagnon, Sales Director for Bing Ads, Microsoft