Which of the following choices is a way that big data and data science can help today’s marketer?

Question

a) The use of big data helps in marketing decision making because it keeps marketing information more “pure” by eliminating other business units from the marketing decision-making process.

b) Big data can help firms react to market conditions more quickly, leading to optimized pricing practices.

c) Data science has helped simplify promotional decisions because it has shown that simple promotions reaching large audiences work the best.

d) Real-time inventory management often helps marketers plan promotional campaigns that are more effective.

e) Big data has been useful in determining what other companies a firm should merge with to be a more effective marketer.

Answer 1

The correct options are an option (A), (B), and (C). Big data analytics are used in marketing and sales by organizations in pricing strategies according to the pricing of similar products in the market. Big data and Data science are used for making promotional campaigns for customer retention and gaining new customers.

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