Exploratory Modeling
Exploratory modeling aims to analyze data to uncover patterns, relationships, and anomalies. It answers the question, "Why did this happen?" The objectives of this type of modeling include:
- Identifying hidden relationships between variables.
- Formulating hypotheses and generating ideas for deeper analysis.
A few examples...
- Program & Channel Effectiveness Analysis
Evaluation of the performance of various communication channels and marketing programs to determine which generate the best return on investment. - Sales, Variance, and Trend Analysis
Examination of sales data to identify discrepancies from forecasts and detect emerging market trends. - Correlation Analysis
Exploration of relationships between different variables to understand how they interact and influence business performance. - Customer Satisfaction Analysis
Study of customer feedback to assess satisfaction levels, identify areas for improvement, and strengthen loyalty.
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