Question

In: Operations Management

Need Recognition- Amazon- uses prescriptive and predictive analytics to show Ads of products which a visitor...

Need Recognition- Amazon- uses prescriptive and predictive analytics to show Ads of products which a visitor has visited in recent past. Also it shows products which one has visited or clicked on last visit/ login by using analytics. It will showcase alternative products/ brands too, for example visiting a Samsung mobile, will show next time other Samsung as well as HTC etc. brands too along with numerous accessories. This lures customers to more products and act as a trigger to need recognition. Alternative Search- Edmunds- shows different categories of cars available as per the geography and conditions and models, like Old/ Reconditioned and New cars from various brands like Mazda, BMW, Bentley from all models like Hatchback, Minvans, Coupes etc. also providing detailed information along with technical specifications so that users looking for a car can see what alternatives they can opt for, which one is more feasible to them as per their utility/ budget/ life style etc. Alternative Evaluation- PriceRunner- showcases products from various categories, example- small home appliances, offering huge range or products- kettles, iron, coffee maker, juicer etc. Buyer can see Juicers from various company, with pricing and all kinds of specification comparison available to decide him which one to go for, along with product photos and hence, actually evaluating the alternative products available. Purchase Decision- UPS- provides Shipping/ Logistics/ International Trade services to individuals/ small and large corporates, with a variety of pricing options and quick/ normal delivery options, for all sizes of consignment or material to be transported. It helps all kinds of customers to chose as per the priority of delivery or price. PayPal- helps customers to pay for an item to any companies tied up with it, across any industry/ geography via different modes of secured and trust worthy payment gateways, with credit/ debit cards, cash, bank account transfer etc. It offers the right flexibility to every buyer. Post Purchase Evaluation- Ebay- Peer to Peer reviews are important part of a purchase decision. Example Customer reviews posted on Ebay for a specific model of Samsung can help other buyers evaluate about utility/ durability/ reliability/ technical specifications/ worth of that model. Different users who bought via Ebay, post about different features and benefits/ user experience. It helps one to check on various parameters before making a buy or no-buy decision.

Solutions

Expert Solution

In my views, companies have been keeping a track of all the activities of users who are browsing the Internet using various established search engines. Based on the history of searches, the customer data is being shared to the respective companies who can market their products accordingly to the customer. Google is a free search engine, but it is garnering its revenues from the product placement and promotion of various brands.

Companies are capitalizing on the data collected by Google, in the following manner:

  • Based on search history, the companies can identify the products of services desired by consumers and accordingly target the consumer
  • Companies can analyse the navigational clicks of consumers to understand their preferences and the ads which are appealing to them
  • Companies can analyse the blocked data content to understand the advertisements not preferred by the consumers
  • Companies can study the demographics of search data collected by Google to understand the consumer statistics for their brands

Related Solutions

How is data analytics different from statistics? Analytics tools fall into 3 categories:descriptive, predictive, and prescriptive....
How is data analytics different from statistics? Analytics tools fall into 3 categories:descriptive, predictive, and prescriptive. What are the main differences among these categories? Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example
How would you describe descriptive, predictive, and prescriptive data analytics? What options do we have for...
How would you describe descriptive, predictive, and prescriptive data analytics? What options do we have for data analytic tools? Which option is the best for big data analysis in your opinion and why? Your initial posting should be 250-500 words
Advertisers need to know which age groups are likely to see their ads. Purchasers of 120...
Advertisers need to know which age groups are likely to see their ads. Purchasers of 120 copies of Cosmopolitan are shown by age group. Purchaser Age Units Sold 18–24 38 25–34 28 35–44 19 45–54 16 55–64 10 65+ 9 Total 120 (a) Calculate the chi-square test statistic, degrees of freedom, and the p-value. Assume the expected frequencies are equal. (Perform a uniform goodness-of-fit test. Round your test statistic value to 2 decimal places and the p-value to 4 decimal...
Using the below data I need a statistical formula to show which of these categories a...
Using the below data I need a statistical formula to show which of these categories a total of 50 people did the best in in a memory test of words vs. pictures vs. numbers or if it is statistically not able to be proven "reject the null hypothesis" Words Out of 20 Male & Female N=50 Pictures out of 18 Male & Female N=50 Numbers out of 18 Male & Female N=50 Words Pictures Numbers 16 17 12 15 16...
The following data are available for one of the products sold by Dahlia Company, which uses...
The following data are available for one of the products sold by Dahlia Company, which uses a perpetual inventory system: Mar. 1 Beginning inventory, 500 units at $4.00 each 7 Purchased 2,000 units at $5.00 each 12 Sold 2,300 units 17 Purchased 1,800 units at $6.00 each 27 Sold 1,900 units Calculate cost of goods sold for March and the dollar amount of ending inventory on March 31 assuming FIFO is used. Calculate cost of goods sold for March and...
The following data are available for one of the products sold by Dahlia Company, which uses...
The following data are available for one of the products sold by Dahlia Company, which uses a perpetual inventory system: Mar. 1 Beginning inventory, 500 units at $4.00 each 7 Purchased 2,000 units at $5.00 each 12 Sold 2,300 units 17 Purchased 1,800 units at $6.00 each 27 Sold 1,900 units 1. Calculate cost of goods sold for March and the dollar amount of ending inventory on March 31 assuming FIFO is used. 2. Calculate cost of goods sold for...
Best Products Inc. Uses a job-order system in which overhead is applied to jobs on the...
Best Products Inc. Uses a job-order system in which overhead is applied to jobs on the basis od DIRECT LABOR COST. At he beginning of the year the inventories are follows: Raw Material ………………………. $ 42,000 Work in Process …………………….   30,000 Finished Goods ……………………… 58,000 During the year, the following transactions were completed: Raw material purchased on account, $ 190,000 (crédito) Raw material requisitioned for use in production, $200,000 ( 80% direct, 20 % indirect ) Cost for employees services...
Mathes Corporation manufactures paper products. The company operates a landfill, which it uses to dispose of...
Mathes Corporation manufactures paper products. The company operates a landfill, which it uses to dispose of nonhazardous trash. The trash is hauled from the two nearby manufacturing facilities in trucks that can carry up to four tons of trash in a load. The landfill operation requires certain preparation activities regardless of the amount of trash in a truck (i.e., for each load). The budget for the landfill for next year follows: Volume of trash 1,200 tons (300 loads) Preparation costs...
1. What was the last Television show you watched? 2. Which of the four general uses...
1. What was the last Television show you watched? 2. Which of the four general uses & gratifications did you employ when viewing this show? You can use more than one. Information Personal identity Integration & Social Interaction Entertainment 3. Is this a common show for you to watch? Do you always watch it for the same reason? 4. If you watched it for integration and social interaction, was it effective? Were you able to watch the show and then...
Makes two products and uses a traditional costing system in which a single plantwide predetermined overhead...
Makes two products and uses a traditional costing system in which a single plantwide predetermined overhead rate is computed on direct labour hours. Data for the two products for the upcoming year follow: Direct Materials cost per unit 28.00 10.00 Direct labour Cost per unit 5 7.4 Direct labour hours per unit 1 1.1 Number of units produced 38000 90000 1. The company's manufacturing overhead costs for the year are expected to be 1644000. Using the company's traditional costing system,...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT