Customer database Harvard Case Solution & Analysis

Customer database Case Solution

INTRODUCTION

The given case study is regarding customer data collection and its analysis, which is widely used by many companies in order to tailor their offerings, strategies and marketing techniques.

There was a time when the consumers had little or limited gamut of products to choose from,which resulted in their demands being attainable by the business which led to the company having authority in controlling the suppliers.However, the case is different now as the consumers have a wide range of products through which they can choose from.In addition to this, with the advancement of technology and arrival of social media websites,it is easier to receive the feedback of the customers regardless of it being a good feedback or bad. Therefore, it has become very crucial for any business to look after its customers and to stay ahead of the competition, and for that it should analyze the demand of the customers, as well as the ways the company can meet the demands of the customers. Therefore, the power has been shifted to customers.

Recently, companies have come up with the new idea of using social media websites, as companies own websites and other platforms to be used as a prime sources of customer data collection such as their earnings, card usage, location and how much they spent on the purchases made by them.Moreover, companies have now started seeking the feedback of their customers.Therefore, the companies are now focusing on being more customer oriented businesses.

  1. DATA ANALYSED BY COMPANIES:

In this case, there had been a hefty debate on the usage of customers’ data for the success of the business and how and which companies were using the customers’ data and to which level it was mined to know the customer.There are four type of data analyses that the company is using in order to stay ahead of the competition.

  • Online reader’s Data: Companies such as Amazon, Scribed and Oyster are the online reading websites. Amazon is already a giant in the industry with its vast customer base, which has diversified itself to online retail store, however the prime focus of Scribed and Oyster is the online book readers,due to which they gather customers’ data in order to know their preferences. They have devised such options in their website which have allow them to know that e-books are the least preferred books whereas, romantic novels are the highest selling books, due to which such companies use the preferences of the consumers to tailor their subscription offerings as well as it helps them to decide which category to focus and invest on. It also helps the companies in forecasting the demands of the customers in the future.
  • AIRLINES USING PASSENGERS DATA:This is second most popular industry using the data analysis to cater its customers’ needs wants and demand. The customers are mined to the level since the flight attendants have the complete information of the different types of passengers. The British airline has even developed a software termed as“know me” where the passengers tell their preferences, address as well as the payment method through which the company extracts the information such as the recent spending of the customer, how many elite passengers will be flying in the plane due to which they are able to change the environment and the services accordingly.

AUTOMOBILE INDUSTRY: The automobile industry is using the technique of customer data collection in order to satisfy its customers and to establish a good relation with its customers. The automobile companies have joined hands with other companies too such as the payment companies whose services the customers utilize. These companies use customers’ information to analyze the loopholes in their cars, the expectations of the customers, the customization required by the customer,they can even track the customers’ use of fuel, their way of driving so as to identify the customers’ driving techniques......................

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