In the previous segment, we explored the telemarketing dataset.
A bank reached out to around 45,000 individuals as part of a telemarketing campaign and collected their feedback on a new product. In this section, you will analyse this dataset to identify which customer segments are most likely to respond positively—essentially, discovering the profiles of people who are more inclined to purchase the product.
Why is this important?
Targeting the right audience helps increase sales while keeping marketing costs low. In many workplaces, employees often face questions such as:
- Which customers should we contact for an email marketing campaign?
- Which customers should be targeted based on demographic factors?
This type of analysis usually involves bucketing and segmenting. Watch the accompanying video to learn techniques for grouping and segmenting data effectively.
Formula Basics:
- Cell references: Each cell is identified by its column and row (e.g., A2 is Column A, Row 2).
- Relative references: When copying formulas, Excel automatically adjusts the references for each cell.
- Autofill: Double-click the small square at the bottom-right of a cell to quickly fill a range. Excel intelligently updates the references for each row or column.
In the next video, we’ll cover mathematical formulas.
Using Functions:
You can search for functions using the Insert Function (FX) tab in the formula bar.
The dialog box provides explanations for each function.
While typing formulas, Excel will prompt for the required arguments—keep this in mind as you work.
In the following segment, we’ll explore more advanced formulas that allow you to aggregate data. For example, you’ll learn how to calculate response rates for different age groups (e.g., age groups 1, 2, 3, etc.) efficiently.