The field of data analytics has rapidly expanded in the last few years. Describe how small businesses can use data analytics and business intelligence to gain a competitive advantage in the marketplace.

1.) The field of data analytics has rapidly expanded in the last few years. Describe how small businesses can use data analytics and business intelligence to gain a competitive advantage in the marketplace. In addition, explain the importance of
a. Post one reply to a peers’ initial response providing research beyond the textbook. (a minimum of 100 words in length) data-driven decisions.

Peer Response:
Small businesses can use data analytics and business intelligence to market their products and to see how impactful their marketing is. A simpler way to market their product is social media. Social media also provides data in a multitude of ways so a company can gauge its marketing strategy and change it if necessary. For instance, Facebook has a feature called interest targeting. Facebook’s interest targeting helps you find the people who are likely to be interested in buying your product or service. Facebook gathers a user’s information such as their interests, activities, and the pages they like (Kim, 2017). Using this data, a small business can target those specific customers with marketing ads to have a higher chance of capturing a sale. Furthermore, using data to make decisions instead of emotional or random decisions are more impactful because they are properly calculated and can make use of time and money the company has dedicated to marketing. “Data-driven decisions can produce better, faster results than trial-and-error methods, and provide a mathematical basis for marketing campaign effectiveness.” (Flanagan, 2019) Using data driven decisions are more impactful and cost effective when running a small business.

References

Jennifer Flanagan | Jan 16, 2. (2019, January 16). 4 ways to make better decisions with marketing data. Retrieved May 11, 2021, from https://www.digitalcommerce360.com/2019/01/16/4-ways-to-make-better-decisions-with-marketing-data/

Kim, L. (2017, December 10). Top 10 Facebook advertising features you should be using. Retrieved May 11, 2021, from https://www.socialmediatoday.com/news/top-10-facebook-advertising-features-you-should-be-using/512561/

Q2.)Find the mean, median, mode, and standard deviation of the selling price and square feet. Write a brief summary explaining the price and square feet distributions of the area of homes.
a.Post one reply to a peers’ initial response providing research beyond the
textbook. (a minimum of 100 words in length)

Peer Response: Please see attached Dialogue 2

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