excel master series-anova in-excel-to-improve-marketing

20
How To Use All 3 Types of ANOVA Built Into Excel To Make Your Internet Marketing More Effective http:// blog.excelmasterseries.co m /

Upload: stone55

Post on 25-May-2015

730 views

Category:

Education


0 download

DESCRIPTION

excel master series-Anova in-excel-to-improve-marketing

TRANSCRIPT

Page 1: excel master series-Anova in-excel-to-improve-marketing

How To Use All 3 Types of ANOVA Built Into Excel To Make

Your Internet Marketing More Effective

http://blog.excelmasterseries.com/

Page 2: excel master series-Anova in-excel-to-improve-marketing

What Is ANOVA?

● ANOVA stands for “Analysis of Variance” ● ANOVA tells whether varying an element effected the output● Marketers use ANOVA to find out whether changing an element of a marketing campaign had an effect

http://blog.excelmasterseries.com/

Page 3: excel master series-Anova in-excel-to-improve-marketing

The 3 Types of ANOVA Built Into Excel

1) Single-Factor ANOVA 2) Two-Factor ANOVA Without Replication 3) Two-Factor ANOVA With Replication

http://blog.excelmasterseries.com/

Page 4: excel master series-Anova in-excel-to-improve-marketing

Single-Factor ANOVA Tests Only 1 Input Element

● Single-Factor ANOVA tests the Null Hypothesis for that factor, which states that varying the factor does not affect the outcome

● An underlying assumption for all ANOVA tests is that no other factors vary except the ones being tested

http://blog.excelmasterseries.com/

Page 5: excel master series-Anova in-excel-to-improve-marketing

Single-Factor ANOVA Test Data Ready for Input to Excel

● Yellow highlighted cells are the input range for Excel

http://blog.excelmasterseries.com/

Page 7: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA Without Replication Tests 2 Input Elements

● Two-Factor ANOVA Without Replication tests the Null Hypothesis for each factor, which states that varying the factor does not affect the outcome

http://blog.excelmasterseries.com/

Page 8: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA Without Replication Test Data Ready for Input to Excel

● Yellow highlighted cells are the input range for Excel

http://blog.excelmasterseries.com/

Page 9: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA Without Replication Excel Output http://blog.excelmasterseries.com/

Page 10: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA With Replication Tests 2 Input Elements and the Interaction Between the 2 Elements ● Two-Factor ANOVA With Replication replicates the Two-Factor Test in 2 places in order to test the interaction between the 2 factors● Two-Factor ANOVA With Replication tests the Null Hypothesis for each factor, which states that varying the factor does not affect the outcome. The interaction has its own Null Hypothesis which is tested which states that Interaction has no effect.

Page 11: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA With Replication Test Data Ready for Input to Excel

● Yellow highlighted cells are the input range for Excelhttp://blog.excelmasterseries.com/

Page 12: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA With Replication Excel Output http://blog.excelmasterseries.com/

Page 13: excel master series-Anova in-excel-to-improve-marketing

Summary of ANOVA That Was Run

1) Create 5 sets of Ad Text for 1 Ad Group 2) Create 3 sets of Headlines for that Ad Group 3) Run all 15 Ad Text / Headline Combinations 4) Prepare test results for input into Excel ANOVA 5) Run all 3 types of ANOVA on the test results 6) Evaluate the output for each Excel ANOVA http://blog.excelmasterseries.com/

Page 14: excel master series-Anova in-excel-to-improve-marketing

Single-Factor ANOVA Excel Output http://blog.excelmasterseries.com/

Page 15: excel master series-Anova in-excel-to-improve-marketing

Interpretation of Single-Factor ANOVA Excel Output

● Headlines P Value (0.0013) less than Alpha (0.05) we are 95% certain that varying Headline affects output

http://blog.excelmasterseries.com/

Page 16: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA Without Replication Excel Output http://blog.excelmasterseries.com/

Page 17: excel master series-Anova in-excel-to-improve-marketing

Interpretation of Two-Factor ANOVA Without Replication Excel Output

● Headlines P Value (0.0005) less than Alpha (0.05) we are 95% certain that varying Headline affects output

● Headlines P Value (0.627) greater than Alpha (0.05) we are not 95% certain that varying Headline affects output

http://blog.excelmasterseries.com/

Page 18: excel master series-Anova in-excel-to-improve-marketing

Two-Factor ANOVA With Replication Excel Output http://blog.excelmasterseries.com/

Page 19: excel master series-Anova in-excel-to-improve-marketing

Interpretation of Two-Factor ANOVA With Replication Excel Output ● Headlines P Value (1.18 E06) less than Alpha (0.05) we are 95% certain that varying Headline affects output● Ad Text P Value (0.1568) greater than Alpha (0.05) we are not 95% certain that varying Ad Text affects output● Interaction P Value (0.0402) less than Alpha (0.05) we are 95% certain that varying Interaction affects output

http://blog.excelmasterseries.com/

Page 20: excel master series-Anova in-excel-to-improve-marketing