Briefly define the category. Avoid using specific attributes; rather use broad categories. For example, instead of saying customer's address or phone number, you would say "demographics" which includes a wide range of customer specific attributes.
Provide an example of the data.
Provide an example of how an e-commerce company might use the data.
Describe challenges to collecting and legitimately using the data.
List three business functions that rely on collecting a range of customer, inventory, market, and technological data. For each, briefly describe a financial benefit of applying this data.
How does e-commerce (vs. brick and mortar) facilitate the collection and use of relevant data?
This assignment is to be put into a memo for management.© BrainMass Inc. brainmass.com October 1, 2020, 11:15 pm ad1c9bdddf
You may include the following information on the memo.
1. Purchase transaction information. This data includes the specific products customer bought over time. An example of this information is the product's stock keeping units or SKU. This information can be used by the B2C in identifying how to market new products to existing customers. A company without a data collection system would have to rely on other parties to supply this information. Moreover, the way the company collects such data (i.e. Internet cookies) might become questionable as an invasion of privacy.
2. Customer visit information. An example of this data is how many minutes a customer stayed. This information tracks how the customer used the B2C's platform. The company might use this data in designing a more effective marketplace (higher sales per customer visit). Again, like in collecting purchase transaction information, cookies used to collect this data might be questionable.
3. Customer demographics including customer ...
The solution lists and describes five types of data used by B2C retailers. The category is briefly defined.