Big Data Analytics in Customer Acquisition

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a potential benefit of the bank's initiative?

Improved customer retention through targeted advertising

Reducing the need for descriptive analytics in decision-making

Enhanced diagnostic analytics for supply chain management

Carrying out real-time risk analysis (correct)

How does Amazon Fresh and Whole Foods use big data analytics?

To reduce the need for descriptive analytics in decision-making

To identify areas of risk in the supply chain

To create targeted advertising campaigns

To understand customer behavior and optimize logistics (correct)

What is the primary goal of PepsiCo's use of big data analytics in supply chain management?

To improve diagnostic analytics for product development

To enhance customer retention through targeted advertising

To ensure efficient replenishment of retailer shelves (correct)

To reduce the need for descriptive analytics in decision-making

What type of analytics is used to understand how customers buy groceries and how suppliers interact with the grocer?

Descriptive analytics Signup and view all the answers

What is the benefit of using big data analytics in supply chain management?

Efficient replenishment of retailer shelves Signup and view all the answers

What is the primary goal of using big data analytics in risk management?

To carry out real-time risk analysis Signup and view all the answers

What is the purpose of generating reports in data analytics?

To pass on to respective teams for further actions Signup and view all the answers

Which of the following tools is used for market analysis?

All of the above Signup and view all the answers

What is the benefit of using QlikView in data analytics?

It offers in-memory data processing with fast results Signup and view all the answers

What is the purpose of improving business requirements through data analytics?

To improve customer experience and meet business requirements Signup and view all the answers

Which tool is primarily used for statistics and data modeling?

R programming Signup and view all the answers

What is the benefit of using SAS in data analytics?

It is easily accessible and can analyze data from different sources Signup and view all the answers

What is the objective of performing market analysis in data analytics?

To understand strengths and weaknesses of competitors Signup and view all the answers

Which tool is used for data visualization and connecting to various data sources?

Tableau Public Signup and view all the answers

What is the primary goal of using big data analytics in customer retention, as seen in the example of Coca-Cola?

To strengthen data strategy and build a digital-led loyalty program Signup and view all the answers

What is the outcome of using big data analytics in risk management, as seen in the example of UOB bank?

To reduce the calculation time of the value at risk Signup and view all the answers

What is the primary application of big data analytics in Netflix, as mentioned in the content?

Targeted advertising Signup and view all the answers

What type of analytics is used by Coca-Cola to strengthen its data strategy and build a digital-led loyalty program?

Descriptive analytics Signup and view all the answers

What is the outcome of using big data analytics in risk management, in terms of time?

It takes only a few minutes to calculate the value at risk Signup and view all the answers

What is the primary goal of using big data analytics in Netflix, as mentioned in the content?

To give insights on what interests the subscriber most Signup and view all the answers

What is the primary application of big data analytics in Coca-Cola, as mentioned in the content?

Customer retention Signup and view all the answers

What is the primary goal of using big data analytics in UOB bank, as mentioned in the content?

To reduce the calculation time of the value at risk Signup and view all the answers

Study Notes

Uses of Big Data Analytics

Coca-Cola built a digital-led loyalty program in 2015 to strengthen its data strategy, resulting in improved customer retention.
Netflix uses big data analytics for targeted advertising, sending subscribers personalized movie suggestions based on their past search and watch data.
UOB bank implemented a big data risk management system, reducing the calculation time of value at risk from 18 hours to just a few minutes.
Amazon Fresh and Whole Foods use data-driven logistics to create and achieve greater value, understanding customer buying habits and supplier interactions.
PepsiCo relies on big data for efficient supply chain management, using data from clients' warehouses and POS inventory reports to reconcile and forecast production and shipment needs.

Data & information & data analysis

•Data is raw, unorganized facts that need to be processed
•When data is processed, organized, structured, or presented in a given context to make it useful, it is called information
•Data analytics: The science of analyzing raw data to make conclusions about that information, to enhance productivity and business gain.

Needs for Data Analytics

Perform market analysis to understand competitors' strengths and weaknesses.
Improve business requirements by analyzing data to better understand customer needs and experience.

Tools in Data Analytics

R programming: a leading analytics tool for statistics and data modeling.
Python: provides various machine learning and visualization libraries, such as Scikit-learn, TensorFlow, Matplotlib, Pandas, and Keras.
Tableau Public: a free software that connects to various data sources, creates visualizations, maps, and dashboards with real-time updates on the web.
QlikView: offers in-memory data processing, data association, and data visualization, with data compression to almost 10% of its original size.
SAS: a programming language and environment for data manipulation and analytics, easily accessible and able to analyze data from different sources.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Learn about the uses of big data analytics in boosting customer acquisition and retention. Explore how companies like Coca-Cola have strengthened their data strategy with digital-led loyalty programs.