Role of Data
Role in online Book Stores • Customer data, able to customize the customers’ needs, a more personalized service. ... ~ keeping a database to hold vital customer data, and collaborative filtering techniques to perform market segmentation and cross selling. ~ create individualized book recommendations, which makes consumers feel as if the company has built a relationship with them, by providing customers with a tailored purchase, keeping good historical records, and data mining on this information • Standardizing customer & prospect addresses; provide better customer & prospect database record matching ~ Able to combine the best mailing-address data ~ With the most appropriate target contact information ~ increase direct mail responses rates, improving customers service ~ sending endless email / mail responses to the wrong customers might be counterproductive as the customers might feel very irritated ~ one way of obtaining data would be to ask the customers to indicate whether they are interested in receiving emails updating them of the latest offer while they are submitting their purchase form or application of any form.