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- Differentiate descriptive analytics, prescriptive analytics and predictive analytics. give at least one specific example how are these examples of analytics are usedhow are the terms generalization and observation related ?Develop a questionnaire designed to measureconsumer satisfaction of a clothing purchase of $100or more. Include in your questionnaire items thatmeasure the product’s instrumental, symbolic, andaffective dimensions of performance, as well as whatthe consumer wanted on these dimensions. Theninterview several consumers to obtain informationon actual performance, expected performance,and satisfaction. Using this information, determineif consumers received what they expected (i.e.,evaluation of performance) and relate any differenceto consumer expressions of satisfaction. What arethe marketing implications of your results?
- Can the distinction between descriptive and prescriptive models be made by examining their differences?Discuss why is predictive analytics analysis the next logical step in any business analytics (BA) process?What is the role of data mining and predictive analytics in analytical CRM? Provide examples of how businesses use these techniques to improve customer relationships.
- 1.) Design a questionnaire for consumer preference survey regarding the problem. Please keep in mind all aspects of the product, company, data analysis, etc. while designing the questionnaire. 2.) Pursuant to collection of data through the consumer preference survey regarding the product, please explain each step in your data analysis plan. Each step of the data analysis plan must be linked to the questions you have designed for the survey in the previous question. 3.) How would you conduct the survey? What would be your mode of data collection and sampling technique? How would you define the population and sample? Justify your answer.6. A consumer has chosen the model of MP3 player that he intends to purchase. On his way to the store, he has a conversation with his sister about the MP3 player he is going to buy. She expresses her opinion about MP3 players. The factor that could come between the consumer's intention to buy an MP3 player and his ultimate purchase decision is directly related to O the consumer's evaluation process for MP3 players. Ounexpected situational factors surrounding the consumer's decision. O additional consumer research on MP3 players. O another's attitude toward the chosen product.Identify five products for which surrogateindicators may be used as evaluative criteria in abrand-choice decision. Why are the indicatorsused, and how might a firm enhance their use(i.e., strengthen their importance)?