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How Your Shopping Data is Used?

Posted by : Premraj | Posted on : Wednesday, December 23, 2015

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Consumer data is perceived as marketing gold by some of the biggest companies in the world and anyone who wants to define their target audience can do so much more easily if they have some valuable information on our spending habits and preferences.

It is no coincidence that if you search for a type of product online, the pages you visit shortly afterwards might just have some adverts on them that are offering what you were looking for. As this infographic illustrates, the relationship between data and marketing can be extremely lucrative for marketeers everywhere, so do you know how your personal data is being used?

The fundamental point to consider is that it is a very human characteristic to be a creature of habit and therefore it is estimated that almost half of the decisions that we make each and every day are based the habits that we have developed.

If companies can get into your headspace through the use of big data and be able to predict with a reasonable degree of certainty, what habitual purchase you will likely be making each day and week, this will give them a great chance to put a product or service in front of you that they know you are likely to be interested in.

In a digitally-connected world, it is considerably easier to mine useful data and collect personal information about your shopping habits and preferences, simply through monitoring your social media posts for example and more surprisingly perhaps, following your physical movements as well. For more info, Please check OU MBA Online.

Credit source : Ohio University Online


 

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