Introduction
We live in the times of Big Data, with the number of people connected to multiple devices and sensors all with digital networks and individual data that can now be largely collected and analysed to understand the important phenomena Big Data. In the retail market, individual purchase histories are used by recommendation tools to learn trends and patterns. Performing analytics on private data is clearly beneficial, such as early detection of disease and recommendation services. However, user concerns rise from a privacy perspective, with sharing an increasing amount of information regarding their health, location, service usage, and online activities. [4]
We found that 62 percent of retailers report that the use of
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When you interrogate a customer database, you use the software to ask carefully defined questions. The procedures vary depending on your software, but the basic logic applies to any database. [2] Enter one or more items, called fields or field names, and the values you want to output. A very simple example is to have the database generate a list of all customers who live in a particular zip code and who bought a specific product during the last six months.
By interrogating your customer database, you can direct advertising and promotional offers to customers based on their preferences and buying habits. [2] It can also be used to evaluate the effectiveness of a marketing campaign by simply identifying trends in customer behaviour. You can also do Ad Hoc request for the business in your customer database to look for new business opportunities more efficiently.
For example, a simple query can reveal which zip codes are providing the newest business or if you’ve run a previous similar marketing campaign e.g. a member acquisition campaign you can query the past results and compare them to current results and possible project future results which in terms allows the finance department of a business to allocate a budget.
Using a customer database to manage customer relations businesses can save money by more effectively targeting advertising to the customers most likely to respond. [23]
Every day, we produce 2.5 quintillion bytes of data. 90% of all data in the world was produced in the past two years. Data has been around forever; we have always gathered information. Paleolithic cavemen recorded their activities by carving them in stone or notching them in sticks. Egyptians used hieroglyphics to record significant events in history. The Library of Alexandria was home to half-a-million scrolls of the ancient world. Less than hundred years ago, we used punch cards to record and store information. As technology continues to evolve, the amount of data we store continues to grow. We’ve come a long way since stone tablets, scrolls, and punch cards. It’s important to understand the concept of big data and the impact is has created. This paper will define the classifications of data, explain the challenges of big data, and describe how big data analytics is being used in today’s data driven world.
• Know what they want – The customers’ database shows previous purchasing data and the preferences of all customers, which the company could use to forecast the trends and serve what customers really want.
Today, it seems as if everyone is connected through his or her own cell phone. With this they create data and information, intentionally or not using them. This information can be collected from applications, text messaging, and simple just walking around with a cell phone connected. This data may be analyzed computationally to reveal patterns, trends, and other association relating to human behavior. The creation and use of this data is what today’s society puts under the large umbrella of big data. This paper discusses the ethics of collection practices and use of big data.
An effective Customer Relationship Management (CRM) program can be used to identify, retain, satisfy and obtain customers by using technology to optimize strategies for understanding customers’ needs to manage business interactions with current, former, and prospective customers. Additionally, CRM also enables companies to maximize internal, external, marketing and customer service operations to better address the needs of the customer building a better relationship with customers that a more profitable. (Ahmad & Buttle, 2001)
With the increased and widespread use of technologies, interest in data mining has increased rapidly. Companies are now utilized data mining techniques to exam their database looking for trends, relationships, and outcomes to enhance their overall operations and discover new patterns that may allow them to better serve their customers. Data mining provides numerous benefits to businesses, government, society as well as individual persons. However, like many technologies, there are negative things that caused by data mining such as invasion of privacy right. This paper tries to explore the advantages as well as the disadvantages of data mining. In addition, the ethical and global issues regarding the use of data mining
The merging of the customer data from sales and the call center interactions has created the more informed interactions with the customer (Petersen, 2004). The concept rang with the user organizations and mergers and acquisitions created a host of software that the vendors claimed to have an integrated set of capabilities that became known as customer relationship management (Petersen, 2004). Companies wanted to learn more about each and every individual customer and use the information to effectively take care of and manage their relationships, and yet increased customer satisfaction and profit.
Privacy is a major problem these days. Cheaper memory has led to immense amount of data continuously being accumulated in various databases across the world, from universities, companies to patient records, content and link graphs of social net-works, mobility traces in cellular networks, book and movie ratings, etc.—and there are many socially valuable uses to which it can potentially be put. But, as Netflix and others have discovered, even when data collectors try to protect the privacy of their customers by releasing anonymized or aggregated data, this data often reveals much more than intended, especially when it is combined with other data sources. This calls for the need to immediately
Another issue privacy is associated with is when the era of Big Data has begun. According to boyd and Crawford’s article, “Computer scientists, physicists, economists, mathematicians, political scientists, bio-informaticists, sociologists, and many others are clamoring for access to the massive quantities of information produced by and about people, things, and their interactions (boyd 756). Utilizing Big Data can potentially help the world in so many ways, especially with the researches, where they believe, Big Data enables them to see things in bigger perspectives. Additionally, with this advanced technologies, Big Data made people’s life easier – that is, humanities and social academics, marketers, governmental organizations, educational institutions, and driven individuals can easily access, produce, share, and organize data (boyd 756). However, no matter how Big Data can help the society in different ways, it is questionable and debatable, predominantly the practices in social network sites such as Facebook and Twitter, as to who has the access to this data, how it is being utilized, and to what extent (757).
Today, the practice of consumer surveillance and personalized marketing is standard for most popular commercial websites.1 Online business develops personalized advertisement by collecting about their customers information through online surveys, credit cards, contests entries, third-party purchase, and an order-form questionnaire.1 The collected information allows web owners to create personalized marketing campaign, which are tailored to the habits, lifestyles, attitudes, interests, etc., of a specific consumer or consumer groups.1 Advertisers claim that the more appealing an advertisement is to a specific individual the more likely it is that s/he will buy a certain product.2 While accurate to some extent, this description is both overly simplistic and dangerously misleading.2
The concept of using data to influence decision-making certainly isn’t new. It’s been adopted, implemented and utilized by each and every one of us. It can be as basic as using visual data to pick the best apple out of the bunch, or as complex as using customer resource management (CRM) data to create a geographic heat map of customers and prospects to better understand where to spend an advertising budget.
Database marketing is a systematic approach to the gathering, consolidation, and processing of consumer data (both for customers and potential customers) that is maintained in a company 's databases.( Rouse, Margaret)
It’s very important to a business to have good customer relationships; CRM Software’s main objectives are to attract new customers while maintaining and satisfying their current customers and trying to win back the trust of former customers. Customers are one of the most important variables for a business owner to pay attention to, when trying to create a profit. Customer Relationship Management software keeps track of customer information to help the company maintain a strong relation with the customers. Good CRM Software brings together information from all databases within a company and gives
Getting to know your customers, as well as any prospects, is a key component in the success of any business. This requires a lot of work and time, but even more important is the establishment of a relationship, in which the customer feels appreciated and valued. The customer is not only a person or a business purchasing a service or a product, but someone who matters and is important to the success of any business. As such, clean and organized customer record keeping and all information is essential to the success of any business, in order, to retain existing customers and bring new customers on board. This requires a very sophisticated and intelligent method for keeping customer records as the more we know about the customer, the more success that will be naturally brought to the business. This seemed to be an impossible task until recent years.
Enhancing customer satisfaction and retention using data tools provides many organizations steps in creating a service environment that knows who its customers really are and how it plans to retain those customers. Many service organizations has implemented customer relationship management tools. These tools are used to keep track of customer needs, access multiple sources of customer information, for example; credit reports, past contacts, and voice and e-mail messages to record service provided. Using these data tools could be a crucial element for providing
Research is a vital tool for education. It is research that gives us the ability to accurately observe broad pools of student, respond to data, and thus become better educators. Without research, we wouldn 't be able to have great standard curriculums. But as I learned in this section, research is complicated, detailed, and often labor intensive.