Validity is the main extent to which a concept, conclusion or measurement is well-founded and likely corresponds accurately to the real world. The word "valid" is derived from the Latin validus, meaning strong. The validity of a measurement tool is the degree to which the tool measures what it claims to measure. Validity is based on the strength of a collection of different types of evidence described in greater detail below.
In marketing, customer lifetime value, lifetime customer value (LCV), or life-time value (LTV) is a prognostication of the net profit contributed to the whole future relationship with a customer. The prediction model can have varying levels of sophistication and accuracy, ranging from a crude heuristic to the use of complex predictive analytics techniques.
In psychometrics, predictive validity is the extent to which a score on a scale or test predicts scores on some criterion measure.
The term "retention rate" is used in a variety of fields, including marketing, investing, education, in the workplace and in clinical trials. Maintaining retention in each of these fields often results in a positive outcome for the overall organization or school, or pharmacological study. In marketing, retention rate is used to count customers and track customer activity irrespective of the number of transactions made by each customer.
In business, operating margin—also known as operating income margin, operating profit margin, EBIT margin and return on sales (ROS)—is the ratio of operating income to net sales, usually expressed in percent.
Predictive modelling uses scientifically proved mathematical statistics to predict events outcomes. Most often one event that a mathematician wants to predict or apply predictive analysis on it is in the future, but predictive modelling can be applied to any type of mathematically stated as "unknown" event, (almost) regardless of when it occurred.
Customer satisfaction is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." Customers play an important role and are essential in keeping a product or service relevant; it is, therefore, in the best interest of the business to ensure customer satisfaction and build customer loyalty.
Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events.
According to IFABC Global Web Standards, a unique user (UU) is "An IP address plus a further identifier. The term "unique visitor" may be used instead of "unique user" but both terms have essentially the same meaning. Sites may use User Agent, Cookie and/or Registration ID." Note that where users are allocated IP addresses dynamically, this definition may overstate or understate the real number of individual users concerned.
A patient-reported outcome (PRO) is a health outcome directly reported by the patient who experienced it. It stands in contrast to an outcome reported by someone else, such as a physician-reported outcome, a nurse-reported outcome, and so on. PRO methods, such as questionnaires, are used in clinical trials or other clinical settings, to help better understand a treatment's efficacy or effectiveness. The use of digitized PROs, or electronic patient-reported outcomes (ePROs), is on the rise in today's health research setting.
Payback period in capital budgeting refers to the time required to recoup the funds expended in an investment, or to reach the break-even point.
Copy testing is a specialized field of marketing research that determines an advertisement's effectiveness based on consumer responses, feedback, and behavior. Also known as pre-testing, it might address all media channels including television, print, radio, outdoor signage, internet, and social media.
Return on marketing investment (ROMI) is the contribution to profit attributable to marketing, divided by the marketing 'invested' or risked. ROMI is not like the other 'return-on-investment' (ROI) metrics because marketing is not the same kind of investment. Instead of money that is 'tied' up in plants and inventories, marketing funds are typically 'risked'. Marketing spending is typically expensed in the current period.
The Early Detection Research Network (EDRN) is a collaboration led by the National Cancer Institute (NCI) focused on the discovery of cancer biomarkers. The effort, started in 2000, includes both principal investigators and associate members from leading research institutions across the United States.
Sales effectiveness refers to the ability of a company's sales professionals to “win” at each stage of the customer's buying process, and ultimately earn the business on the right terms and in the right timeframe. Improving sales effectiveness is not just a sales function issue; it's a company issue, as it requires deep collaboration between sales and marketing to understand what is working and not working, and continuous improvement of the knowledge, messages, skills, and strategies that sales people apply as they work sales opportunities.
Marketing accountability is a term that signifies management with data that is understandable to the management of the enterprise. "Accountable Marketing" is another name that can be given to this process.
Validity or Valid may refer to:
The Marketing Accountability Standards Board (MASB), authorized by the Marketing Accountability Foundation, is an independent, private sector, self-governing group of academics and practitioners that establishes marketing measurement and accountability standards intended for continuous improvement in financial performance, and for the guidance and education of users of performance and financial information.
One of the indicators of the strength of a brand in the hearts and minds of customers, brand preference represents which brands are preferred under assumptions of equality in price and availability.
Willingness to recommend is a metric related to customer satisfaction. When a customer is satisfied with a product, he or she might recommend it to friends, relatives and colleagues. This willingness to recommend can be a powerful marketing advantage. In a survey of nearly 200 senior marketing managers, 57 percent responded that they found the "willingness to recommend" metric very useful.
