By William G. Zikmund, Barry J. Babin

ISBN-10: 0324593759

ISBN-13: 9780324593754

Don?t ponder your self as a pupil, give some thought to your self as a supervisor. necessities of promoting learn places you within the driver?s seat with the newest info on the best way to harness the layout, assortment, research, and reporting of information to reinforce your company?s earnings. it is a excellent advertising textbook for acing the category and a in charge source for the longer term.

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24 In just over a decade, online technologies have dramatically changed the way we shop for airline tickets. Most transactions can be conducted without any person-to-person contact. These changes mean that airline consumers spend a lot of time online. At any given time, a major airline is serving approximately 1,000 customers through its Web site. In a typical day, that means over 1 million customers have touched the company. Each touch leaves behind a record that researchers and managers can use to guide decision making.

Data are simply facts or recorded measures of certain phenomena (things or events). Information is data formatted (structured) to support decision making or define the relationship between two facts. Market intelligence is the subset of data and information that actually has some explanatory power enabling effective decisions to be made. So, there is more data than information, and more information than intelligence. Most data are irrelevant to any specific decision making situation and therefore not always valuable.

Airlines aren’t alone in this effort. Imagine all the information that passes through a single Home Depot store each day. Every customer transaction, every empty shelf, every employee’s work schedule—right down to the schedule to clean restrooms—creates potentially valuable information that can be used by researchers and decision makers. Considering that Home Depot operates thousands of stores, obviously, Home Depot needs a data depot! Like many firms, Home Depot has outsourced the storage and management of data inventories.

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Essentials of Marketing Research , Fourth Edition by William G. Zikmund, Barry J. Babin

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