T-tests compare the means of two groups to determine if there’s a significant difference between them. This is a great tool for marketing since you can easily determine if two groups have differences in behavior or when testing two prototypes for a new website design etc. Similarly, Analysis of Variance (ANOVA) compares the means of three or more groups instead of two. This is particularly useful when you simply have more than two things to test! For instance, you run 3 different promotions and you want to see which promotion drove higher sales. These are both useful in A/B tests.

Regression is a statistical method used to model the relationship between variables when they have a linear relationship. It estimates coefficients in an equation that describes the relationship between two or more variables. In marketing science, it’s a valuable tool since we can evaluate the impact of a variable (linear regression) or multiple variables (multiple regression) on an desired outcome.

Which factors are driving consumer experience? This is a common business question that can be answered by key driver analysis.

Perceptual maps are a great way to visualize where a brand stands in relation to it’s competitors and is a useful tool to gain a marketing advantage. If a brand aspires to be associated with certain attributes or gain ground on a competitor a perceptual map is a great way to know where you are in the minds of customers and allocate marketing resources accordingly.

This segmentation analysis is an attempt to find distinct groups for marketing purposes.