Case study: Identifying Market Niches In the age of Big Data
- Describe the kinds of data being analyzed by the companies in this case. Data about e-book purchases and reading habits are being collected and potentially sold to book publishers. The data include whether a book is completed, if pages are skimmed or skipped, and which genres are most often finished. Airlines are collecting all kinds of passenger data that can be consolidated to build comprehensive customer profiles. Cabin crews can then use the data to identify certain characteristics about on-board passengers and personalize the flying experience. Car companies integrate databases and use complex algorithms to more closely match car lot inventory to buyer demand. Vehicle turnover rates improve and the price a consumer pays minus the manufacturer subsidy rise, increasing Ford Motor Company’s profits. Using vehicle Internet connections, the company intends to collect fuel economy data, mechanical failures, and o...