Marketing Analytics Software to use

Marketing Analytics software you can use for commercial use as well as free alternatives for self-education.

Marketing Analytics Software

1. SPSS

Found in almost all academic labs for business classes or social sciences in general. Latest versions allow for clustering and data mining apart from modelling and handling of surveys/questionnaires. SPSS also has built-in processes to calculate customers’ RFM value, optimize direct-marketing (mail, catalog, calls etc) actions and customer segmentation. A more production-oriented modeling solution is IBM SPSS Modeller (formerly known as Clementine)

Free Alternative: PSPP

2. SAS

Built for professional use and is very popular for it. Now you can enjoy a Free version for educational purposes. Coding in SAS is indeed a skill in demand. Apart from SAS/Base there are modules you can choose from depending on the needs and the budget.

3. Matlab

I learnt about it many years ago from friends in engineering. Check out the official take of the company on Machine Learning, which covers marketing analytics needs. You can choose across different toolboxes. The necessary toolbox is Statistics Toolbox, but Neural Network Toolbox, Fuzzy Logic Toolbox, Econometrics Toolbox and Optimization Toolbox can also be considered, if you want to solve more marketing problems, like budget allocation and experiment with advanced techniques.

Free Alternative: Octave

4. Excel – XLStat

Excel is found in any project at some point. It can be used for statistical analysis and charting with the free Analysis Toolpak Add-in. It can handle basic tasks in exploring your data and testing of hypotheses. However, if you want more advanced features and cover a wide variety of marketing analytics tasks, then you can try XLStat. You can go for the “Pro” features for clustering, modelling and basket analysis, “Life” for customer churn and “Time” for predictive modelling.

Free Alternative: Real-Statistics

5. R

Also famous for academic use, but also supported by businesses nowadays. You can also check RStudio for a more Matlab-like look (front-end/gui). Tons of packages you can select from. The ones that come with the basic installation can cover basic clustering for segmentation, basic statistics for data exploration, descriptives and hypothesis testing and survival statistics for churn prediction.

Free Alternative: Did I mention it’s free?

Of course there are more software packages for statistics, data mining and machine learning in general. For an even bigger collection you can just go here and here

What is your favourite software? Let me know in the comments




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