As one of the largest e-commerce platforms in the world, Amazon collects vast amounts of data on customer behavior, purchases, and preferences. Here are three different types of analytics that Amazon uses this data for:
Predictive analytics: Amazon uses predictive analytics to anticipate what customers may want to buy in the future. By analyzing purchasing behavior and browsing history, Amazon can recommend products to customers that they are likely to purchase based on their past behaviors. This helps Amazon to improve customer experience, increase sales, and retain customers.
Marketing analytics: Amazon uses marketing analytics to identify the most effective marketing campaigns to reach its target audience. By analyzing customer behavior, Amazon can determine which marketing …show more content…
An ERP system integrates various business functions, including finance, accounting, human resources, and supply chain management, into a single platform. This allows the CEO and other executives to access real-time data on various aspects of the business and make informed decisions.
Supporting IS: ArcelorMittal may also use other supporting information systems, such as a customer relationship management (CRM) system, supply chain management system, and business intelligence (BI) system. These systems provide data on customers, suppliers, and market trends, as well as insights into the company's performance and opportunities for improvement. Data types may include financial data, customer data, supply chain data, and market data. The type of processing may include data mining, data analysis, and reporting.
. BYOD stands for "Bring Your Own Device." It refers to a policy that allows employees to use their personal devices, such as smartphones, tablets, and laptops, for work purposes. There are three levels of
Corporations are not the only organizations that can use good enterprise software, schools, universities, government agencies, and charities have found this management platform equally effective. The primary item that all types of enterprise software will have in common is that each is built to suit the needs of the corporation or organization, and each includes a set of software functions that improves the productivity of the business. In general, Craig Raucher has learned that enterprise software is classified by its business use. For example, accounting software, supply chain management software, and business intelligence software are all considered to be a part of the enterprise software umbrella.
Business analytics is used by companies to convert collected information into practical data that is usable for optimizing performance (Griffin, 2010). It includes almost all data analysis activities a company conducts. “Business analytics includes predictive analytics and modeling, performance management, business intelligence (BI) and data management” (Griffin, 2010). The foundation of business analytics is statistical data which is used to determine or predict possible outcomes (Galleto, 2017). These potential outcomes are then used to make smarter business decisions and to plan strategy moves (Galleto, 2017) Benefits of Business Analytics Molly Galetto, of NG Data identifies some of the benefits a company can receive from implementing business analytics in its decision-making process.
A shopper can visit the company with the full expectation that whatever they’re looking for, Amazon.com will carry it. As Amazon.com acquires more assets, the number of products they can offer becomes more varied. All companies experience growth in a healthy economic climate and see decline when the market begins to falter. This is part of what allows Amazon to stay above most others. Only when all markets crash will Amazon see large setbacks as their varied offering allows plenty of room to fall back
For instance, it shows the type of deals they are having, along with offering healthcare for those who may need it, (Jassy, Amy Amazon.com Amazon health, March 9, 2023) wardrobe for the people interested in fashion, and books for those interested in literature. Amazon.com contains a variety of merchandise for whoever is shopping. Jeff made sure to organize it by categories, named “bestseller in kitchen items” and “deals on Amazon's devices”. By including this, it makes it easier to find things you are looking for. Among other things the audience may like is that at the bottom of the website it contains a section in which many can find other ways to feel seen.
Today, many people prefer to order products from Amazon instead of going to stores or malls. c. DESCRIPTION OF MY SUBJECT (AMAZON.COM): Amazon (Amazon.com) is the world’s largest online retailer and a prominent cloud services provider. The company was initially a book seller, then later it expanded to sell a wide variety of consumer goods and digital media as well as its own electronic devices, such as the Kindle e-book reader, Kindle Fire tablet and Fire TV, a streaming media adapter (Rouse, 2018).
On the basis of demography Amazon deals with deals with male and female consumers who are mainly students professionals and employees. On the basis of customer loyalty, Amazon on the behavioral front identifies its customers as highly dedicated and longterm, not so dedicated and those who are indifferent. It serves a clientele looking for good pricing and with the widest choices available. Amazon also divides its consumers on the basis of their personalities, namely tolerant, resolved and enterprising. There is also a division on the basis of users of a product; such as first timers, regulars and ex users.
5 – Main risks going forward for Amazon.com are to loose its competitive advantage because of opportunities that Internet offered to its competitor : low prices, deliver, costumer’s service, etc. Moreover, if the business develops, it may encounter logistical problems and limits : geographical and logistical constraints (energy, delivery and connection and some contries) and legislative constraints (censorship, taxes and state agreement : Corea, Sri Lanka, Indonesia, etc). Founded in 1994, Amazon started as an online bookstore and quickly became popular as it received high marks on several Internet rankings. Today, Amazon.com, Inc. is the world's largest online retailing company headquartered in Seattle, WA
Amazon has achieved many milestones from starting in the founder’s garage in 1994 to the growth in revenue to US$147.8 million in 1997 and then to the revenue growth of US$177.866 billion in 2017 (Amazon, 2018a, Amazon, 2018b and Jurevicius, 2018). These milestones were achieved through tenacious focused strategies of meeting their customers’ needs and wants. These strategies have maintained and expanded their customer base locally and internationally and have increased its market shares and profit over the last two decades. In addition, projection for the company’s growth and expansion for the next three to five years looks positive as it predicted to grow at the same rate with its expansion internationally and continued focused in satisfying consumers’ wants (Amazon, 2018a). Although, some factors such as governmental policies, legal issues and natural disasters could pose a threat to Amazon’s growth plans, the management team led by the founder and Chief Executive Officer (CEO) are working on mitigating the risk (Amazon, 2018a).
As big data things continue to grow in this modern era, today we can learn how to predict or assume anything that will happen in the future with data from the past. This studies known as Predictive Analytics. Predictive analytics combine methods from machine learning, data mining and statistics to find meaning or pattern from a huge volume of data. Tom H Davenport, a senior advisor at Deloitte Analytics has broken down three primer models on doing predictive analytics: the data, statistics, and assumptions.
- IT platform and core applications software support world-class SCM - Advanced decision support capabilities have the greatest impact on business performance - Data are required to manage the core business