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Research paper

Machine learning and AI in marketing analytics: Leveraging the survey data to find customers

David Fogarty and Xinlei Cui
Applied Marketing Analytics: The Peer-Reviewed Journal, 10 (2), 158-175 (2024)
https://doi.org/10.69554/WZKB3722

Abstract

The field of marketing analysis in the digital era faces numerous challenges. Despite the availability of vast amounts of structured and unstructured data, practitioners have yet to fully harness the potential of machine learning models. This paper addresses this gap by investigating how to find targeted customers and expand the emerging market by implementing machine learning models to process survey text data and provides empirical evidence through model evaluation experiments. The research problem focuses on demonstrating the effectiveness of machine learning and AI models in optimising value creation and enhancing competitive advantages in marketing practices. The paper employs mixed methods and presents experimental results, leading to conclusions highlighting the benefits of improving data quality to strengthen the performance of machine learning models. This research also provides insights into model selection and offers a foundation for future researchers and marketing analysts to interpret and evaluate machine learning models effectively by multiple efficient metrics.

Keywords: machine learning; marketing; artificial intelligence; automated classification; consumer targeting; analytics

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Author's Biography

David Fogarty PhD, MBA is a part-time associate professor at National University where he teaches and serves on doctoral committees for Doctor of Business Administration and PhD in Business Administration students. His research interests focus on applied statistics, data science, management science and quantitative analysis for business and healthcare.

Xinlei Cui holds a master's degree in management of technology from New York University, specialising in leveraging machine learning and AI for business analytics, and a bachelor's degree in tourism development and management from Arizona State University. Her research interests focus on machine learning and AI applications in business analysis, marketing, consumer behaviour analysis and affective computing.

Citation

Fogarty, David and Cui, Xinlei (2024, September 1). Machine learning and AI in marketing analytics: Leveraging the survey data to find customers. In the Applied Marketing Analytics: The Peer-Reviewed Journal, Volume 10, Issue 2. https://doi.org/10.69554/WZKB3722.

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cover image, Applied Marketing Analytics: The Peer-Reviewed Journal
Applied Marketing Analytics: The Peer-Reviewed Journal
Volume 10 / Issue 2
© Henry Stewart
Publications LLP

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