Question 1. In your own words, explain the role of Customer Segmentation Analytics; what kind of business questions it can help you answer, how it can be used and what the key challenges are? (Guidance: aim at no more than 400 words in your answer) Answer:

1) In my point of view Customer Segmentation Analytics To convert your consumers into devoted consumers, you must reach them with the perfect material at the ideal time and location. When selecting how and where to activate consumer touchpoints, many marketing-focused businesses do not have the whole data to support this essential principle. Marketers run the risk of missing opportunities for conversion within their target demographic and losing clients to rival businesses without this information. To help marketers maximize their conversion possibilities, Ipsos MMA blends marketing mix modelling and multi touch attribution analytics into a cohesive strategy. The most beneficial micro-segments, distinctive clients, and targeted programmers are found using this technique, which, when used, may aid these companies in achieving their challenges. Customer Segmentation Analytics has need to face mainly they are facing 3 challenges. Which is listed here. ü Data quality and management ü Relevance and timeliness ü Agility and scalability Data quality and management Making categories that are unconnected, too tiny, or excessively specialized is a typical mistake in client segmentation. Since these groups aren't pertinent or quantitative enough to have any purchasing power or customer lifetime value, they might be a waste of time and money. Additionally, brands should be careful not to create user categories based on stale data or on information that is no longer accurate. For instance, they should use client information from the summer campaign from the previous year rather than the one from five years ago when creating a summer marketing campaign. They should consider whether it's necessary to include websites like Google+ and Vine when segmenting customers based on their use of social media platforms. Relevance and timeliness Creating groups that are unrelated, too small, or overly specialized is a common error in client segmentation. These groups could be a waste of time and resources because they don't have any purchasing power or customer lifetime value and aren't relevant or quantitative enough to have any. Additionally, companies should take care to avoid building user groups based on outdated or inaccurate information. For instance, while developing a summer marketing campaign, they ought to employ customer data from the campaign from the previous year rather from the one from five years ago. When dividing up your clientele into groups according to how they use social media platforms, they should think about whether it's vital to add websites like Google. Agility and scalability Businesses must take flexibility and potential expansion into mind when establishing their first user groups. Otherwise, they run the risk of becoming confined to predetermined planning or decision-making procedures. Brands should be flexible to changes in their market and client segments, including their splitting, joining, or even elimination if they become unnecessary. Additionally, they must be able to swiftly modify their categories in response to shifts in market trends and industry laws. Companies should be ready to scale their customer segmentation initiatives as well, particularly if they want to develop more quickly.