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Customer Data
Customer data or consumer data refers to all personal, behavioural, and demographic data that is collected by marketing companies and departments from their customer base. To some extent, data collection from customers intrudes into customer privacy, the exact limits to the type and amount of data collected need to be regulated. The data collected is processed in customer analytics. The data collection is thus aimed at insights into customer behaviour ( buying decisions, etc.) and, eventually, profit maximization by consolidation and expansion of the customer base. Customer data may be collected from Internet users through online surveys, but also through the recording of user activity through measures such as click-through and abandonment rates. Levels of information One approach to classifying business customer information starts by distinguishing levels of information into market, organizational, business unit, and individual information. Information may then be further bro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Behaviorism
Behaviorism is a systematic approach to understand the behavior of humans and other animals. It assumes that behavior is either a reflex elicited by the pairing of certain antecedent stimuli in the environment, or a consequence of that individual's history, including especially reinforcement and punishment contingencies, together with the individual's current motivational state and controlling stimuli. Although behaviorists generally accept the important role of heredity in determining behavior, deriving from Skinner's two levels of selection: phylogeny and ontogeny. they focus primarily on environmental events. The cognitive revolution of the late 20th century largely replaced behaviorism as an explanatory theory with cognitive psychology, which unlike behaviorism views internal mental states as explanations for observable behavior. Behaviorism emerged in the early 1900s as a reaction to depth psychology and other traditional forms of psychology, which often had diffic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abandonment Rate
In marketing, abandonment rate is a term associated with the use of virtual shopping carts. Also known as "shopping cart abandonment". Although shoppers in brick and mortar stores rarely abandon their carts, abandonment of virtual shopping carts is quite common. Marketers can count how many of the shopping carts used in a specified period result in completed sales versus how many are abandoned. The abandonment rate is the ratio of the number of abandoned shopping carts to the number of initiated transactionsFarris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.'' Upper Saddle River, New Jersey: Pearson Education, Inc. . The Marketing Accountability Standards Board (MASB) endorses the definitions, purposes, and constructs of classes of measures that appear in ''Marketing Metrics'' as part of its ongoinCommon Language in Marketing Project or to the number of completed transactions.Am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Intelligence
Customer intelligence (CI) as part of business intelligence is the process of gathering information regarding customers, and their details and activities, to build deeper and more effective customer relationship management, customer relationships and improve decision-making by vendors. Customer relationship management Customer intelligence is a key component of effective customer relationship management (CRM), and when effectively implemented it is a rich source of insight into the behaviour and experience of a company's customer base. As an example, some customers walk into a store and walk out without buying anything. Information about these customers/prospects (or their visits) may not exist in a traditional CRM system, as no sales are entered on the store cash register. Although no commercial transaction took place, knowing ''why'' customers leave the store (perhaps by asking them, or a store employee, to complete a survey) and using this data to make inferences about custo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Data Platform
A customer data platform (CDP) is a collection of software which creates a persistent, unified customer database that is accessible to other systems. Data is pulled from multiple sources, cleaned and combined to create a single customer profile. This structured data is then made available to other marketing systems. According to Gartner, customer data platforms have evolved from a variety of mature markets, "including multichannel campaign management, tag management and data integration." Capabilities Commonalities across CDPs: * marketer-managed; * unified, persistent, single database for customer behavioral, profile and other data, from any internal or external source; * consistent identifier that links all of a customer's data; * accessible by external systems and structured to support marketers' needs for campaign management, marketing analyses and business intelligence; * provide a 360-degree view of the customer; * group customers into audience segments; and * allow users ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Data Integration
Data integration refers to the process of combining, sharing, or synchronizing data from multiple sources to provide users with a unified view. There are a wide range of possible applications for data integration, from commercial (such as when a business merges multiple databases) to scientific (combining research data from different bioinformatics repositories). The decision to integrate data tends to arise when the volume, complexity (that is, big data) and need to share existing data Information explosion, explodes. It has become the focus of extensive theoretical work, and numerous open problems remain unsolved. Data integration encourages collaboration between internal as well as external users. The data being integrated must be received from a heterogeneous database system and transformed to a single coherent data store that provides synchronous data across a network of files for clients. A common use of data integration is in data mining when analyzing and extracting i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Data Management
Customer data management (CDM) is the ways in which businesses keep track of their customer information and survey their customer base in order to obtain feedback. CDM includes a range of software or cloud computing applications designed to give large organizations rapid and efficient access to customer data. Surveys and data can be centrally located and widely accessible within a company, as opposed to being warehoused in separate departments. CDM encompasses the collection, analysis, organizing, reporting and sharing of customer information throughout an organization. Businesses need a thorough understanding of their customers’ needs if they are to retain and increase their customer base. Efficient CDM solutions provide companies with the ability to deal instantly with customer issues and obtain immediate feedback. As a result, customer retention and customer satisfaction can show marked improvement. According to a study by Aberdeen Group, "above-average and best-in-class c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Audience Measurement
Audience measurement calculates how many people are in an audience, usually in relation to radio listenership and television viewership, but also in relation to newspaper and magazine readership and, increasingly, web traffic. The term is sometimes used with regard to practices that help broadcasters and advertisers determine ''who'' is listening, rather than ''how many'' people are listening. In some parts of the world, the resulting numbers are referred to as audience share; in other places, the broader term market share is used. This broader meaning is also known as audience research. Measurements are broken down by media market, which corresponds to large and small metropolitan areas. Methods Diaries The diary was one of the first methods of recording information. However, this is prone to mistakes, forgetfulness and subjectivity. Data is collected down to the level of listener opinion of individual songs cross-referenced against age, race, and economic status in liste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Psychographics
Psychographics is defined as "market research or statistics classifying population groups according to psychological variables" The term psychographics is derived from the words "psychological" and "demographics" Two common approaches to psychographics include analysis of consumers' activities, interests, and opinions (AIO variables), and values and lifestyles (VALS). Psychographics have been applied to the study of personality, values, opinions, attitudes, interests, and lifestyles. Psychographic segmentation is a technique for grouping populations into sub-groups according to similar psychological variables. Psychographic studies of individuals or communities can be valuable in the fields of marketing, demographics, opinion research, prediction, and social research in general. Psychographic attributes can be contrasted with demographic variables (such as age and gender), behavioral variables (such as purchase data or usage rate), and organizational descriptors (sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Identifier
Personal Identifiers (PID) are a subset of personally identifiable information (PII) data elements, which identify an individual and can permit another person PIIs include direct identifiers (name, social security number) and indirect identifiers (race, ethnicity, age). Identifiers can be sensitive and non-sensitive, depending on whether it is a direct identifier that is uniquely associated with a person or a quasi-identifier that is not unique. A quasi-identifier cannot pin down an individual alone - it has to be combined with other identifiers. Examples of PID Privately issued ID credentials * Benefit plan participation number *Private health care authorization, access, or identification numberTransactional financial account numbers *Bank account number *Credit or |
Click-through Rate
Click-through rate (CTR) is the ratio of clicks on a specific link to the number of times a page, email, or advertisement is shown. It is commonly used to measure the success of an online advertising campaign for a particular website, as well as the effectiveness of email campaigns.American Marketing Association Dictionary. . Retrieved 2012-11-02. The Marketing Accountability Standards Board (MASB) endorses this definition as part of its ongoinCommon Language in Marketing Project Click-through rates for ad campaigns vary tremendously. The first online display ad, shown for AT&T on the website HotWired in 1994, had a 44% click-through rate. With time, the overall rate of user's clicks on webpage banner ads has decreased. Purpose The purpose of click-through rates is to measure the ratio of clicks to impressions of an online ad or email marketing campaign. Generally, the higher the CTR, the more effective the marketing campaign has been at bringing people to a website. Mos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demographic
Demography () is the statistics, statistical study of human populations: their size, composition (e.g., ethnic group, age), and how they change through the interplay of fertility (births), mortality (deaths), and migration. Demographic analysis examines and measures the dimensions and Population dynamics, dynamics of populations; it can cover whole societies or groups defined by criteria such as education, nationality, religion, and ethnicity. Educational institutions usually treat demography as a field of sociology, though there are a number of independent demography departments. These methods have primarily been developed to study human populations, but are extended to a variety of areas where researchers want to know how populations of Social actions, social actors can change across time through processes of birth, death, and Human migration, migration. In the context of human biological populations, demographic analysis uses Public records, administrative records to deve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Survey
With the application of probability Sampling (statistics), sampling in the 1930s, surveys became a standard tool for empirical research in social sciences, marketing, and official statistics. The methods involved in survey data collection are any of a number of ways in which data can be data collection, collected for a Survey methodology, statistical survey. These are methods that are used to collect information from a sample of individuals in a systematic way. First there was the change from traditional paper-and-pencil interviewing (PAPI) to computer-assisted interviewing (CAI). Now, face-to-face surveys (CAPI), telephone surveys (CATI), and mail surveys (CASI, CSAQ) are increasingly replaced by web surveys. In addition, remote interviewers could possibly keep the respondent engaged while reducing cost as compared to in-person interviewers. Modes of data collection The choice between administration modes is influenced by several factors, including 1) costs, 2) coverage of the tar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
