Marketing Resource Allocation: Moving from Analytics to Action
05/21/13 - 05/22/13
University of Virginia Darden School of Business, Charlottesville, VA
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While the increasing availability of “big data” enables empirically-guided approaches to marketing resource allocation, the organizational processes necessary for effective decision making and implementation must be in place. Companies need state-of-the-art analytics that show how different marketing investments affect sales and profits, managerial processes to translate model recommendations into organizational action, and closed feedback loops to ensure continued improvement in the analytics and processes.
This conference will explore the latest thinking on these issues:
- Overcoming barriers to translating analytic recommendations into allocation decisions.
- Fostering cross-functional collaboration—especially between marketing and sales—to implement allocation decisions.
- Conducting risk assessment and planning for contingencies in the allocation process.
- Creating and nurturing the feedback loops that promote organizational learning and continued improvement.