Big Data Analysis: The next leading edge
Statistician John Tukey defined data analysis in 1961 as: "Procedures for analyzing data, techniques for interpreting the results of such procedures, ways of planning the gathering of data to make its analysis easier, more precise or more accurate, and all the machinery and results of (mathematical) statistics which apply to analyzing data." Data Analysis is the process in which we make sense i.e. meaning full conclusion from all the data we have. In this process we collect the raw data and draw conclusion out of it to answer the existing problem and take decisions based on it. This is done by applying statistical and logical techniques. Data analysis is used in many fields and sectors for different purposes. It is divided into three parts
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Amazon uses the data to form a recommender system to for its customers. This recommender system suggest product to buy for the customers who visit Amazon.com. It uses customers historical purchase data to show each user customized results i.e. when customer buys some commodities Amazon shows them what else they can buy with that commodity. Amazon uses Market Basket Analysis in which they use data mining algorithm to identify customer purchase behaviour by analysing previous purchases to determine items they buy together, as well as the frequency and order of their purchases. This analysis is also used for the order of content items on their media sites or to form their catalogue. It is also used to deliver targeted marketing (e.g. emailing customers who bought specific product with other product and offers on that product that they are likely to purchase). Amazon now also use its big data to monitor, track and secure its products lying throughout the world in its retail stores. The software used by Amazon are Amazon Web Service (AWS), Amazon Elastic map Reduce which gives easy to use analytics platform around Hadoop
Leveraging its growing brand recognition among consumers, TRX has begun expanding their B2C revenue stream. The Company believes this to be their largest growth opportunity. E-Commerce – 5.9% CAGR TRX’s website, which receives approximately 6.5 million visits annually, was updated in 2012 to include a full-service sales platform allowing direct sale to the consumer. In November 2016, a mobile TRX website was launched.
Amazon was by far the greatest e-commerce performer in terms of revenue in 2013 as reported by (Wireless News, 2014). One of the company’s many accolades is that it has the seventh most visited website in the world (alexa, 2015). Compared to its competitors, meaning companies that are offering similar services, it is number one. The position occupied by Amazon in the market warrants a study of the company and its businesses model.
Amazon is no exception. Amazon uses big data services to analyze consumer trends, marketing strategies, planning the development of new products, and other insights related to marketing their products and offerings.
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).
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).
INTRODUCTION A smart grid is a power network which is based on digital technology is used to supply power, via two-way digital communications. A smart grid system allows for monitoring, analysis, control and communication within the supply chain and helps improve efficiency, reduce energy consumption and cost, and maximize the transparency and reliability of the energy supply chain. The smart grid was introduced with the aim of overcoming the weaknesses of conventional electrical grids by using smart meters.
Tracking consumers’ habits in many different aspects of their life has allowed them to gear specific products in a specific manner. The Big Data I speak of is basically new. It is the data being created by all the electronic medical records the medical industry has begun to utilize over the past few years. With the mandate from Congress every hospital in the country had to install software to utilize as electronic health
We will also look at how Amazon builds trust with their customers to keep them coming back to shop. Additionally, this paper will analyze the internal strengths and weaknesses of each company and their strategies used to increase profitability and efficiency. By using each companies balance sheet, income statements, and financial ratio we will be able to see how each company is performing and if they are staying ahead of the competition. After looking at all aspects of both companies functionalities, we can the make recommendations of ways to improve their competitive advantage so that the companies continue to be front runners in their competitive markets. Mid-Term Exam Industry Overview
This situation in turn created a service differentiation for the company compared to its other competitors. First, the Amazon.com website has an attractive and customer-friendly interface. Fast and reliable delivery which allow the customers to receive their order within the same day in specific area has also been an incredible feature of the company. A no-nonsense returns policy is being implemented, too. To assist the customers in choosing their order, purchase suggestions based on their previous purchases and webpage viewing are given.
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
3.3 Customers and Competitors Customers Amazon customers consist of upper & middle class social groups who have inclination towards using E-commerce portals and are comfortable with online shopping. Majority of the customers are professionals or businessmen who are busy with their business/Job & find it convenient to purchase anything online rather than visiting the physical outlet in order to save time & money. Furthermore, the customers might also be the ones who are searching for deals.
Amazon’s competitive strategy is cost leadership. Amazon has achieved a lot on a great scale that it gets the best prices from its vendors so they can operate in very flexible and thin margins and sell their items easily at retail prices and make money. They also provide shipping products for a reasonable cheap price. They also have improved their warehouses by giving some space to other sellers who want to sell their items through Amazon. They differentiate and provide better quality than their competitors across the industry.
finishing goods, order handling, delivery, dispatch, invoicing; Sales & Marketing for example customer management, order taking, promotion, market research, sales analysis; Servicing for example warranty, maintenance, education and training. Support activities of Amazon include administrative and finance infrastructure; human resources management; product & technology development and procurement. This leads to less cost and more profit margins. The Walmart value chain is also almost the same except there are physical stores involved in between while Amazon has everything through online platform.
Introduction In this new era of internet, computers and cell phones play a vital role in business. The growth of technology is in its highest pace. Marketing and communication techniques also changed with the technology. With the growth of Internet, online social Medias have become important communication channels and also virtual communities have emerged.
Amazon is a domination force that all other retailers have to compete with and they will only get better. When they began to dominate the market, some retailers followed suit and increase their online presence like Walmart and EBay. They even began to lower their prices to compete with Amazon. This resulted in several other retailers, who did not