6 Ways Marketing Teams Are Winning With Big Data Analytics

Blog#4: 

6 Ways Marketing Teams Are Winning With Big Data Analytics
Name / Student ID:：Sharon 林易宣 / D0740755
Source：https://www.business2community.com/big-data/6-ways-marketing-teams-are-winning-with-big-data-analytics-02296519


From the company’s perspective, it is essential to use tools such as big data to earn money. There are 6 ways marketing teams are winning with big data analytic.

Dynamic pricing：Company need to decide the best price for every product that customer is willing to pay. It could be some crucial factors affect price, like prices for similar products, cost to manufacture the products or discounts. A best B2C company can do for its dynamic pricing is overlooked and identified the broader economic situation, customer’s product preference, and so on.
Measuring ROI：Big data is not an answering machine, once you plan to get both better investment and return, you need to start inquiring specific information and set the proper parameters for all questions.
Forecasting：Statistical algorithms is an important tool before your target, having available data and estimate customer’s purchasing behavior is a key point to defeat your competitors.
Planning marketing efforts：Even a small consuming-group you can not neglect in the market. Everyone can be created for infinitive opportunities and be separated in different consuming habit groups. After big data analytics, merchants could find out more sub-group in adjusting their strategies.
Personalization：By data’s accumulative characteristic, the cloud system could give personal information. It helps every industry customize its products or services after the customer’s experience.
Enhancing Product Offerings：Chatbox can collect what customer really needs or where should be improved, big data can also focus on customer’s features. The company’s ending goal not only including get suggestions but increasing its capabilities in every department.

After 6 analytics, you can merge all the tools into your business seamlessly, and it could help in long-term distribution.

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