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We would collect more data that assists solution no. 1 and no. 3.

Provide more specific geographic data

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Team view; direct and more pronounced interaction with customers
Goal: customer retention, expanding customer base. There is no guarantee on prevalence; competition with big corporations. Must focus on retention

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- More Specific Geolocation
To Estimate Purchasing Power and Pattern based on it
- Data Customer Purchasing Pattern and Behaviors
- Interactive Data (Feedbacks, Reactions and Comments)

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- Targeted Emails, Notification
- Investing in Acquisition of Customized Preferences
- Boost Emotional Connection

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NETFLIX - Global Domination via Personalized Recommendations

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NETFLIX - Global Domination via Personalized Recommendations

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In today's increasingly data-driven world, businesses must leverage data and analytics to make informed decisions and drive growth. Netflix, the leading streaming service, has excelled in this area, utilizing a data-driven approach to optimize its business performance and unlock growth potential. This case study explores the tools and techniques used by Netflix and how they can serve as inspiration for other companies seeking to make data-driven decisions.
1. Personalization through Advanced Algorithms
Netflix's success can be attributed in part to its ability to personalize content for its users. The company uses advanced algorithms and machine learning to analyze user behavior and preferences, allowing it to tailor content recommendations accordingly. This not only keeps users engaged but also promotes content discovery, driving higher viewership numbers and customer satisfaction.

Key Takeaway: A deep understanding of customer preferences and behavior can drive tailored recommendations, increasing engagement and overall business performance.
2. Data-Driven Content Creation and Acquisition
Netflix uses data analysis to inform its decisions on content creation and acquisition. By analyzing viewer data and trends, the company can identify gaps in its content offerings and make strategic investments in original productions or acquiring rights to existing content. This approach has allowed Netflix to build a diverse and compelling library, catering to various tastes and preferences.

Key Takeaway: Leveraging data to make informed decisions on content creation and acquisition can help build a competitive advantage in the market.
3. Optimizing Marketing Strategies
Netflix's data-driven approach extends to its marketing strategies as well. The company conducts A/B testing for different promotional images, trailers, and messaging to determine which combinations resonate best with users. By analyzing the results, Netflix can optimize its marketing campaigns, ensuring maximum impact and driving user engagement and subscriptions.

Key Takeaway: Data analysis can be a powerful tool in optimizing marketing campaigns, leading to increased user engagement and business growth.
4. Talent Acquisition and Retention
Netflix also utilizes data to make decisions regarding talent acquisition and retention. The company has developed a performance-based culture that uses data to assess employee performance and make decisions about promotions, raises, and terminations. This data-driven approach ensures that the company retains top talent and maintains a high-performing workforce.

Key Takeaway: A data-driven approach to talent management can help companies attract and retain top talent, fostering a high-performance culture.
Conclusion:
Netflix's success demonstrates the power of a data-driven approach in optimizing business performance and unlocking growth potential. By leveraging data and analytics to make informed decisions, companies can enhance customer experiences, make strategic investments in content creation and acquisition, optimize marketing strategies, and attract and retain top talent. This case study serves as an inspiration for other companies looking to harness the power of data and analytics to drive growth and achieve success.

#Netflix #DataDriven #BusinessGrowth #Analytics #Personalization #ContentStrategy #MarketingOptimization #TalentManagement #IndustryInsights

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Netflix's Secret Sauce: How Data and Analytics Propelled Them to Global Domination

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Introduction: In today's increasingly data-driven world, businesses must leverage data and analytics to make informed decisions and drive growth. Netflix, the leading streaming service, has excelled in this area, utilizing a data-driven approach to optimize its business performance and unlock growth

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LOTTE Department Stores - YDP Program Targeted Marketing, Generation MZ

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LOTTE Department Stores - YDP Program Targeted Marketing, Generation MZ

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롯데백화점 영등포점, MZ세대 타켓의 YDP .. : 네이버블로그

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1. Customer intimacy, personalized recommendations; targeted emails/notifications. Investing in acquisition of customized preferences. Boost emotional connection.

2. Importance of customer feedback ; direct interactions with customers, achieved by ai integrations. Sort data and feedback/comment/etc.

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The usage of data marketing can raise a lot of ethical issues

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The usage of data marketing can raise a lot of ethical issues

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Privacy violation, ambiguous consent from users

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Data breaches have experienced many big corporations and is very difficult to avoid. Therefore, collection of user data can be very risky and put customers’ privacy at risk.

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Customers’ data can be used for a variety of malicious purposes and even sold to third parties. Thus, a company should be transparent about its usage of data to avoid any ethical issues.

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Solution no 1: personalized recommendations

Track through social media
Call-centers, Consumer support, live-chats. What issue did consumers contact the company for the most?
social media platforms;
- Membership points / Credit points: the more you buy, the more points you earn
- Which group utilizes these points the most?

Service: call-center, delivery service, mobile service

Offer personalized customer services to provide consumers with better mobile and delivery service

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1 pm on Friday at LG-Posco 2F

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Choi Yoon

Woo Youtae

Lee Eunseo

Sviatoslav Ermosin

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Data ethics in marketing: why it’s important and what to do about it - Supermetrics

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Data ethics in marketing: why it’s important and what to do about it

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Data ethics in marketing: why it’s important and what to do about it

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Data ethics in marketing: why it’s important and what to do about it - Supermetrics

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Considering the marketing timeline, data ethics is still a relatively new concept. Broadly speaking, marketing data ethics refers to the ethical considerations that need to be taken into account when collecting, using, and sharing data. This can include everything from ensuring that data is collecte…