Value of Technology in Gathering and Analysing Data (AQA A-Level Business): Flashcards
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Practise the cards
10 cards from this deck
3 things tech does with marketing data
3 things tech does with marketing data
Gather, store, examine large volumes
What businesses build from customer data
What businesses build from customer data
Detailed customer profiles
Company example of personalized recommendations
Company example of personalized recommendations
Amazon - product suggestions from past purchases
Tech benefit: forecasting
Tech benefit: forecasting
Predict future trends more accurately
Benefit of targeted sales messages
Benefit of targeted sales messages
Precise targeting of different customer groups
Why data quality matters
Why data quality matters
Poor data = flawed insights & bad decisions
External factor: Seasonality impact
External factor: Seasonality impact
Sales patterns reflect seasonal trends not real change
External factor: Competitor actions
External factor: Competitor actions
Demand changes from competitor pricing/promotions
External factor: Economic conditions
External factor: Economic conditions
Impact customer purchasing power
Result of personalization in marketing
Result of personalization in marketing
Increases customer satisfaction & sales