Why would a customer database be so useful for a company such as Forbes or Kotak?What would happen if these companies had not kept their customer data in database?
Customer database be so useful for a company such as Forbes or Kotak because using the database that can collect of related files containing record on people,place or things.With prior to digital database,business used file cabinets with paper files.In this case,thank to modern data management and data mining technology ,they can ask each other by mining their customers database.The results are dizzling.One popular use of data mining is can analyzing patterns in customer data for one-to-one marketing campaigns or identifying profitable customers.
In additional,customer database typically contain data such as a customer name,address and history of purchases.These database include record of the company communication with its own customer purchased from other organization.Database also starting to include customer data gathered from social media,mobile,web and email transactions.Such as Forbes,their publisher the bi-weekly Forbes business magazine and maintain an extensive wedsite.The Forbes business model relies heavily on advertistment to supplement revenue from paid subscriptions,so it is constantly looking for a way to help its advertisers reach Forbes readers more effectively.
Services compiled information about Forbes readers by selecting and analyzing subset of the reader population as a way of learning about the entire readership.Forbes be so useful to customer database because sis maintain extensive data on its individual subscribers and website visitors from magazine subscriptions and visit to its websites.Forbes has some knowledge of that individual demographic,values and lifestyle.Allowing customer data to drive marketing decisions,Kotak company successfully transition from making photographic films to become a leading of provider of imaging technology product.Kotak now relies more heavily on the actual data in its oracle customer database.If the companies not kept their data in database so that a problem to a companies run into its creating duplicate record or being disorganized.This often happen when too many people have access to the database and are continuingly updating it.Its also wasting cost if companies not kept customer data in database.outdated or invalid entrier this could cause confusion and waste time and it could also be illegal.
Lastly,the company not efficiently in organization because of their not keep carefully of customer data in database and mightly cause the company unable attract most of the people because customer not belief on that company to keep their data in database.
List and describe the 2 entities and several of their attributes that might be found in Kodak's marketing database.
Firstly,supplier.Supplier may always provide useful information especially for the technology trend to Kodak.Besides,supplier can provide some consumer feedback about Kodak's product.This can help Kodak more understand about the marketing trend and consumer behavior so that Kodak can form a strong marketing database.Next,well communication between supplier and Kodak can leads to a good price of materials being supply to Kotak.When the cost of producing a product is low,then the final product like Kodak camara filem will be in low price.Therefore,it can help it in their marketing and help Kodak to build strong marketing database.
Secondly,customer.Customer also provide useful information especially from customer point of view,taste and products that customer prefer.Customer behavior will affect the marketing strategy and database of Kodak.Kodak marketing database will change according to the preferance of customers.Data will be collected and analysis will be made according to customer feedback.By understanding information provide by customer,Kodak can form strong marketing database to compete with other companies and use their resource efficiently.
How did better data management improve each company's business performance?Give examples of two decisions that were improved by mining these customer databases.
Data management enables the organization to adapt quickly in the dynamic world of business.The agility to adapt and respond to evolving business needs,or even predict those changes in advance will be the differentiator that allows a company to thrive.A consistent view of data throughout the enterprise is the key to be make informed,actionable decisions that support the vision and business strategy.The company can take advantages of any number of opportunities that change presents.Shifts in organizational leadership,mergers and acquisitions,evolving marketing tactics and dynamic regulatory requirements can all be accommodated.The organizations benefits greatly from timely access to fresh data about sales,inventory movement,promotions and customers.Moving from monthly refreshes to weekly,daily,hourly,or even more frequently can provide substantial incremantal value.
The decisions that were improved by mining the customer databases is utilizes google analytics.This is an efficient,yet private way to collect customer data.When a customer check out your website or even purchases your product or service,analytics can track important information about the customer ,from how often they check out your site,how long they stay,what pages they visit,and if they purchase a product from your site,to where they live and more.It's an excellent time saving tool to understand your demographic.
The second example is conduct customer surveys.This is a valuable asset on how to get customer data the right way,without being nosy and in your face.If your business is mainly done online,a short survey of five-ten question after purchase can reveal important,valuable information.Utilizing survey software on your website can be valuable tool.If most of your business is from a brick and mortar store,customer survey cards can be tossed in the bag with a customer's purchases or on the receipt itself,with a coupon for a percent off their next purchase.
