Today I am going to tell you about my research work. I’ll try to give a sense to the selected area of expertise in layman’s terms and further, point out to the main tasks and current outcomes. I’ll try to stay within 4 minutes.
Now then, as you know, there is a great number of different corporations and enterprises in our globalized world. Just imagine for a moment that you are sitting at the large table and holding a discussion of the future development of your enterprise with your colleagues. You can see many different diagrams and figures on the slides. Somebody is speaking well for our obligation to enter the electronics market, while another one is giving suggestions regarding the need for increasing the market share in the western countries.
The process described above is called strategic planning. An enterprise makes a projection of its future development for different periods. The complexity of this process lies in the fact that you never know exactly whether everything goes to plan.
My research work is aimed at forecasting of possible scenarios of business development. The originality of this work is that we use the evidence of effectiveness of online advertising to achieve our goal. We are made aware of more than 100 metrics about current advertising campaigns.
Having in mind these metrics, we can determine the percentage of obtained advertisement displays. We need to see how many ad displays we have lost, and on the ground of this data, we can estimate the lost profit. Next, we should predict the amount of investment necessary for different adversing volume and create diverse scenarios for business development.
Here is a concrete short example. Suppose we know what the average check of the company is. We also know the percentage of the lost ad views and missed profit. Through the use of this information we can complete projection of different scenarios and choose which one should be followed, based on the amount of investment. Drawing on the selected scenario, we can specify business plans and tasks for the nearest 3 years.
What has already been done?
- The method of determining the lost profit
- The method of strategic alternatives forecasting
- Literature review
- Practical testing of the methods, using different corporations as models for assessment.
What should be done in the nearest future?
- Formalization of dependency between marketing department measurements and the ones provided by other departments of the company.
- Completion of the literature review with the goal of determining the opportunity to apply the described method to our institute.
I thank the audience for your kind attention.