In the business world in the past few years, there has been a major battle between two business models that has been created due to the Internet, the Pureplay vs the Clicks & Bricks.
- Please post any comments/questions about data management issues, such as data warehousing, data mining. What about those Data Mining techniques, like the kth-nearest They are very powerful to classify customers. These are the basics, each IT company like Google, Amazon, etc will use their own home-brew heuristic techniques to mine their own/and from the outside, customer data so as to further know their customers so as to increase sales or to become more efficient in running their operations. the ones who develop a better algorithm will mean lower cost and higher sales. it is the same for general retailers, but they are kind of behind, but is equally important to them.
How about the article(s) on Big Data and Business Analytics? Business Analytics applied on these Big Data is the latest business strategy. does your organization utilize any of these concepts, if not, could/should they?
the latest is developing apps with AI. most businesses will have that in a few years if not already. the most common form of apps are ones that we are using but not quite know how they do it. most AI tools are simple and cheap. but as a business, you need to decide what platform should be used to be more consistent within the organization.
and should be from bottom up, not top down. baby steps, try one, then expand, etc. users
try to read up on k-nearest method in data mining. just google it. it is quite simple but it gives you a sense how businesses can profile us easily. we can do it ourselves with JMP PRO easily.
- Pureplay vs Clicks & Bricks. Amazon vs Walmart.
the grocery industry.
In the business world in the past few years, there has been a major battle between two business models that has been created due to the Internet, the Pureplay vs the Clicks & Bricks. Pureplay meaning the Amazons of the world, just one channel, Clicks & Bricks meaning the Barnes & Noble, Walmart of the world. The concensus seems to be the Clicks & Bricks are winning in most industries, so far. You can do some research on your own and post any comments you have here regarding the two models. In particular, how should Clicks & Bricks utilize the fact that they have both channels by creating new services. What about the grocery industry? I tried Instacart when the virus first hit. I think this model does not really work, too expensive. if you include fees and tips, it can be up to $20 for a $100 purchase. as soon as this is over, I am going back in in person for sure. how often do you buy from Amazon as vs. walmart etc. .
which of these two types of business model(s) will work in the future? Why?
as much as we think we are buying everything online, we are not. before the virus, we were buying about 11% of retail sales online. SO there are still a lot of foot traffic. Now it is more but that is due to the virus. people like me will go back i person when this is over.
