Inbound Marketing
Inbound Marketing
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What is inbound marketing?

Inbound marketing is a concept of dealing with customers and a methodology for acquiring and maintaining customers. It’s based on being helpful, human and customer-oriented in all phases of the customer acquisition process, and includes techniques and channels based on Internet, like social media marketing, search engine optimization, email marketing, and content marketing.

Inbound marketing focuses on building trust relationships with customers and employees and aligning all the incentives with the organization ... Read More »

Tags: Marketing
Business
Business Storytelling
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What is Business Storytelling?

Business Storytelling is a part of inbound marketing that focus on the creation of content that is emotional and easy to remember.

Using inbound marketing, businesses focus on creating trust relationships with prospects and customers. Brands create useful content that address real problems of the audience. Good content attract potential customers and create a trust relationship with the brand.

Useful content and storytelling replace pitches and slogans. Customers look for for information that allows... Read More »

Tags: Marketing
data
Goodhart's Law
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What is the Goodhart’s Law?

Goodhart’s Law states that individuals can anticipate the effects of a policy when evaluating the outcome of its actions, thus manipulate the policy.

When the focus is set in only one measure, people optimize that single measure.

A good example is the so-called “Cobra Effect”. In India,... Read More »

Tags: Data science
Exchange Rate
Real Exchange Rate
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The real exchange rate measures the price of foreign goods relative to the price of domestic goods.

Mathematically, the real exchange rate is the ratio of a foreign price level and the domestic price level, multiplied by the nominal exchange rate.

Formally:

R = (E.P*)/P

Where:
R: real exchange rate
E: nominal exchange rate
P*: foreign price level
P: domestic price level

While the nominal exchange rate measures the relation between the value of two currencies The real... Read More »

Tags: Exchange rate
How to Calculate the NPV in Excel?
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This article teaches you how to calculate the NPV (Net Present Value) using Excel. The Excel function to calculate the NPV is “NPV”.

The NPV, or Net Present Value, is the present value, or actual value, of a future flow of funds. The present value of a future cash flow is the current worth of it. To know the current value, you must use a discount rate. The NPV includes not only the positive cash flows, or inflows, but also all expenditures, including the... Read More »

Tags: Excel - Financial
Substitute Goods
Substitute Goods
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Definition of Substitute Goods

Substitute goods are those goods that can satisfy the same necessity, they can be used for the same end.

Examples of Substitute Goods

  • Coca-cola and Pepsi
  • Car, motorbike, bike and public transport
  • Butter and margarine
  • Tea and coffee
  • Bananas and Apples
  • Cigarettes and e-cigarettes

Cross Elasticity of Demand of Substitute Goods

Cross elasticity is the percentage change in quantity demanded for a good  that occurs in response to a percentage change in price of anther ... Read More »

Tags: Elasticity - Microeconomics
Types of Elasticity of Demand
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Tags: Elasticity - Microeconomics

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Business Strategic Planning Process
Business Strategy

Strategic planning is a management activity and a process that defines the direction and the objective of a business over the long term- It defines how resources should be allocated.

Goal of the Business Strategic Planning Process

A strategy helps business... Read More »

Hiring Data Scientists: Tips from the Experts

Technical Skills

Technical skills requirements vary broadly on a case-by-case basis. As a basis, all data analyst/scientist must be able to manipulate data, usually with Python or R, and sometimes with software like SAS, and have a good understanding of ... Read More »

Perfect Substitute Goods
Perfect Substitute Goods

Perfect Substitute Goods are those goods that can satisfy the same necessity in exactly the same way. A substitute good can be used in place of another. If the consumer can choose between buying one substitute good or another, she will buy the cheaper one.

Examples of Perfect Substitute ... Read More »

Company Resources
Company Resources

Company Resources are all assets a company controls and can use to achieve its goals.

Company resources include the following:

  • Human Resources
  • Material Resources
  • Financial Resources
  • Intangible Assets

... Read More »

Demand Function
Demand Function

A demand function describes the mathematical relationship between the quantity demanded and one or more determinants of the demand, as the price of the good or service, the price of complementary and substitute goods, disposable income, etc.

Qdi = f(price i,price j... Read More »

Demand in Economics
Demand

Demand Definition: In economics, demand is the quantity of a good that consumers are willing and able to purchase.

The most important determinants of demand are:

How to Calculate the Payback Period in Excel

The payback period is the time it takes for a project to recover the investment cost. For example, if you invest $100 and the returns are $50 per year, you will recover your initial investment in two years.

... Read More »

Stakeholder Theory
Stakeholder Theory

The Stakeholder Theory is a theory of organizational management that states that companies could archive better performance by taking all stakeholders into account, not only shareholders. Stakeholders are clients, suppliers, employees, the government and the society where the company operates... Read More »

Economic Variables

Economic variables are measurements that describe economic units, like the GDP, Inflation or Interest Rates.

A variable is defined as a set of attributes of an object. Attributes are characteristics that describe an object. Economic variables are measurements... Read More »

Debit Note
Debit Note

A debit note is a commercial document used by sellers to notify clients of a future invoice.

A debit note is issued when the amount payable by the buyer to the seller increases. It can be issued for the following reasons:

- When the seller delivers goods or... Read More »

Macroeconomic Variables
Macroeconomics

Macroeconomics studies the behavior of economic aggregates. Macroeconomic variables are associated with economic aggregates: a country, a region, the population of a country, all companies in a country. For example, the aggregate production of a country is formed with the production of all its... Read More »

Vertical Supply
Supply

A vertical supply represents a situation in which the offered quantity is fixed and do not changes when the price changes. The vertical supply is also called perfect inelastic supply because the variation in quantity is always zero.

Price elasticity of the... Read More »

How to use Excel VLOOKUP and Formula
Excel


How to use Excel VLOOKUP

  1. Enter ‘=VLOOKUP(‘
  2. Select the... Read More »
NPV Formula in Excel
Excel

The NPV formula in Excel is counterintuitive at first. When I first used it, I made a simple mistake by selecting all the cash flow, including the initial investment. I learned that Excel requires you to select only the future flows and then discount the initial... Read More »

Python, R, SAS and SPSS - The best tool for statistics

There is a wide range of statistical software and programming languages to chose from. SAS, SPSS, R, and Python are the most used. SAS and SPSS are proprietary while R and Python are free... Read More »

Elasticity of Production

The elasticity of production, also called the output elasticity, is the percentage change in production divided the percentage change in the quantity of an input used for that production. For example, if a firm increases the number of workers by 10%, and the number of products produced per month... Read More »

The Great Depression: Causes and Effects
The Great Depression

The Great Depression was the biggest economic crisis in history. It quickly spread worldwide and lasted several years.

The Great Depression began with the Wall Street crash of Thursday 24, 1929 and ended in 1942, when unemployment level recovered.

... Read More »
Financial Resources Examples
financial
Data Science

Interest in Data Science exploded in the last years. As you can see in the following chart from Google Trends, the number of searches of the term “Data Science” has been increasing fast since 2013.

... Read More »

Microeconomic Variables
Microeconomic variables

Microeconomics studies studies individual units, like families or businesses. Macroeconomics studies economic aggregates.

Microeconomic variables are those patterns or elements that can be used to describe the behavior of a person or an individual economic unit, like a business. A... Read More »