Data Revolution

Data Revolution
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Описание книги

Data is everywhere. There is no way to stop, deny or avoid it. Big Data is the next economic revolution. After the triumphant success of the Internet, the capabilities of managers to use the endless and steadily increasing amount of data will split companies into those who know what they do, and those who just guess. There will only be winners or losers. Managers need to understand that we are on the verge of a new economic era. The more they listen and learn, the higher the chance to win the data race.
Why is Big Data so important? Big Data can help companies to increase their revenues, improve their profit margins, reduce risks and cut costs. Intelligent use of data supports customer acquisition, allows for higher prices, minimizes the risk of unprofitable investments, improves profit margins, supports the direct distribution channels, and helps to bypass expansive third-party vendors. It also generates customer loyalty and eventually helps to reduce technology, administration and payroll costs. There are manifold reasons to take a deeper look into Big Data.
In medieval times, merchants in the Mediterranean accumulated extreme wealth by trading in spices such as salt. Nowadays, the prosperity of a company strongly correlates with its ability to manage and use customer data.

Оглавление

Michael Toedt. Data Revolution

DATA. REVOLUTION. How Big Data Will Change the Way of Doing Business

Contents

Introduction

Customer Data is the Salt of Our Modern Times

Increase of profitability by up to 100%

1. Just A Hype?

Big Data – a game changer

The Volume of Data is Increasing by 35-50% Per Year

90% of All Data has been Generated in the Past Two Years

2. Big Data Stories

2. 1. The Google Flu Map

2. 2. Selling Without Owning

2. 3. Pregnant Without Knowing

2. 4. $750.000 for No Reason

3. Things You Should Know about Big Data. 3. 1. The Definition of Big Data

Big Data is the Beneficial Usage of Data to Support the Positive Economic Development of an Organization

The 5 V’s of Big Data

3. 2. The ROI of Big Data

ROI Through Improved Decision-Making

ROI Through Reduction of Distribution Costs

ROI Through Worthwhile Media Allocation

ROI Through Enhanced Productivity

ROI Through Lower Costs

3. 3. Loyalty Programs – A Good Way to Collect Data

Memberships Increased by 270%

3. 4. Where Data Comes from – The Customer Journey

The Nine Stages of the Customer Journey

What is Loyalty?

Recommendations:

4. Big Data in the Hotel Industry. 4. 1. The Reality of Hotel IT

The IT Infrustructure has a Huge Impact on the Economic Prosperity of a Hotel

Hotels Operate up to 40 Different IT Systems

Hotel Managers Took the Wrong Exit

Recommendations:

4. 2. The Big Data Warehouse - The Heart of Big Data

Hotels Need a New IT Environment

Eric Schmidt, CEO of Google, said: “The chance to gather data is a game-changer!”65 He is a 100% right

Companies Do Not Know Who their Customers Are

Recommendations:

5. Big Data – the Next Step in the Evolution of Marketing. 5. 1. Data Security and Data Protection

5. 2. Big Data Marketing

Big Data - the Empowerment of Marketing

5. 3. Communication: Content and Timing

Quality Requires Automation

The Death of Target Groups

5. 4. Communication Frequency and the Boomerang Effect

Up to 15,000 Messages Per Day!

Companies Have to Communicate More Frequently Than Ever Before

5. 4. 1. Response-Functions to Measure the Result of Marketing

5. 4. 2. How Consumers React To CRM Activities – Marketing Becomes Measureable

Marketing is Finally Measureable

5. 5. The Value of Communication Channels

Big Data is a Game Changer

5. 6. The Change of Market-Research and Decision-Making

Big Data Means Risk Reduction!

Hotel Managers Misinterpret the Purpose of Guest Feedback Platforms

Recommendations:

5. 7. The Social Media Pitfall

The Times of the Ignorant Traveller are Over

Data is the Key Driver for Success!

Recommendations:

6. Changes in the Organizational Structure

Big Data Involves More Than Just Data

Will Big Data Increase the Significance of the Marketing Department?

7. Conclusion

The Essentials:

Big Data Will Split Organizations in Those Who Know and Those Who Just Guess

Recommendations: How to Find the Right Partners?

Part B: Expert Views

Alexander Pesch. 7. Good or bad hotel customer from a sales perpective?

7. 1. Introduction

7. 2. Segmentation

7. 3. Codes

7. 4. USALI: structure of accounts

7. 5. Conclusion

Benjamin Jost. 8. Turn „Big Data“ Into Big Business

8. 1. Intro

8. 2. The Circle of Trust

8. 2. 1. Get Them Talking More: How to Increase Review Volume via Surveys

8. 2. 2. Making Sense of It All & Bringing Calm to the Chaos: Online Reputation Monitoring

8. 2. 3. Shout It From The Rooftops: Marketing A Hotel’s Success

8. 3. Big Brother Is Watching

8. 4. The “Hospitality Gene”

8. 4. 1. Hospitality Gene: The Beast

8. 4. 2. Hospitality Gene: The Blessing

8. 4. 3. Hospitality Gene: The Payoff

Dr. Robert Selk. 9. „Big Data“ What does Data Protection Law say?

9. 1. Introduction

9. 1. 1. A Brief Overview of Data Protection Law and „Big Data“

9. 1. 2. A Glance at the EU Provisions

9. 2. Which Law applies to Hotels in different Countries?

9. 3. The Prohibition Principle and the Separation of a Process into individual Steps

9. 4. Important

9. 5. What are the Solution Strategies? 9. 5. 1. Solution 1, Consent:

9. 5. 2. Solution 2: Waiving Personal Data

9. 6. Deleting Data & „Big Data“: an insoluble Problem?

9. 7. How does this relate to the Deletion Principle?

9. 8. What may happen in Case of Violations?

9. 9. But who is liable?

9. 10. Conclusion

Georg Ziegler. 10. Who cannot handle Data, successfully kills his business

10. 1. Survival of the Fittest

10. 2. Relevance matters

10. 3. Data know how as corporate asset

Index

About Michael Toedt

About Toedt, Dr. Selk & Coll

Further Publications

Books

Magazins and Journals

Literature

Отрывок из книги

Michael Toedt (Editor.)

1st Edition

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8. Turn „Big Data“ Into Big Business

8. 1. Intro

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