The Role of Big Data-based Precision Marketing in Firm Performance

Jiatong Bao, Yi Qu, Shuo Zhao, Nan Zheng

Research output: Contribution to journalArticlepeer-review

Abstract

Traditional marketing is faced with difficulty in adapting to the changes. In the new business environment, big data is the cornerstone of future business and precision marketing is the main development direction of future marketing. Mining useful data from large amounts of information and applying it to a companys precision marketing will boost the competitiveness and development of the company. This paper is intended to analyze the influence of precision marketing on the corporations operating revenue conditions, and it takes Company A Digital Marketing as an example. To achieve this purpose, this study develops definite hypotheses based on the cases and theories of precision marketing and shows precision marketing process including data collection, label analysis, page modification and test results. This study uses Decision Tree Regression Analysis using the Python 3.7 and K-means Cluster Analysis by SPSS 24.0 respectively to test the assumptions. Results are revealed and discussed. Finally, the result can be seen that high value customer is that the time interval from browsing products to purchase products is short and concentrated within 200 days from the last purchase. In conclusion, precision marketing increases sales and revenue for enterprises.
Original languageEnglish
JournalInternational Journal of Entertainment Technology and Management
Publication statusAccepted/In press - 31 Mar 2022

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