In an earlier module,
we discussed the more common analytic methodologies used in business.
Remember that most business problems are solved using
correlation methodologies.
Within the correlation methodologies,
you'll most often bumped into testing and regression.
While testing exposes the causal relationship between changes
in a particular variable and the outcome.
With fixed variables, regression is used to find correlations,
on average, between different variables.
We'll take a deeper dive into both testing and regression,
explaining the what and the how, while focusing on important complications
such as confounding variables, control variables, and significance.
The most important part of this module
is learning how to set up a good test.
As marketers, we are responsible for explaining the return on the money
we are spending.
We also have to understand the right mix of media,
and stay ahead of trends and new ways to reach consumers.
A solid testing methodology enables
easy comparison and constant innovation.
As your assignment, you'll be asked to answer
the questions for a sample media mix analysis.
The analysis will show the impact of different forms of media,
and you will answer questions about media performance,
finally recommending a new media strategy.
Good luck.