Data Analytics in Marketing, Entrepreneurship, and Innovation

Data analytics is a modern approach to creating empirically supported advances that encourage entrepreneurial activity inspired by novel marketing inferences. It covers techniques, processes, models, tools, and practices for creating business opportunities through data analytics, including predictive analytics, discrete choice analysis, marketing and customer analytics, developing new products, technopreneurship, disruptive versus incremental innovation, and business analytics. It provides researchers and practitioners with insight into how data analytics is used in innovation, entrepreneurship, and marketing.

Format: Paperback / softback
Length: 182 pages
Publication date: 25 September 2023
Publisher: Taylor & Francis Ltd

Innovation based on data analytics is a modern approach to creating empirically supported advancements that inspire entrepreneurial activity fueled by novel marketing insights.

Data Analytics in Marketing, Entrepreneurship, and Innovation delves into various techniques, processes, models, tools, and practices for harnessing data to generate business opportunities. It features case studies that offer practical illustrations of data-driven applications. This comprehensive exploration of data analytics examines:

Business Analytics: This encompasses the application of predictive analytics, discrete choice analysis, and other techniques to gain insights into business operations and make informed decisions.

Applying Predictive Analytics: Predictive analytics involves using statistical models and machine learning algorithms to forecast future trends, patterns, and outcomes. It helps organizations make data-driven predictions and take proactive actions.

Using Discrete Choice Analysis for Decision-Making: Discrete choice analysis involves analyzing the choices individuals or groups make between different options. It helps organizations understand consumer preferences and tailor their products or services accordingly.

Marketing and Customer Analytics: This involves the collection, management, assessment, and analysis of marketing data to gain insights into customer behavior, preferences, and purchasing patterns. It helps organizations optimize their marketing strategies and improve customer engagement.

Developing New Products: Data analytics plays a crucial role in the development of new products and services. It helps organizations identify market gaps, analyze customer needs, and develop innovative solutions that meet those needs.

Technopreneurship: Technopreneurship refers to the process of creating new businesses or ventures that leverage technology to disrupt existing markets or industries. Data analytics can help technopreneurs identify opportunities, validate their ideas, and develop effective business strategies.

Disruptive versus Incremental Innovation: This examines the distinction between disruptive and incremental innovation. Disruptive innovation involves creating entirely new products or services that challenge established norms and disrupt existing markets. Incremental innovation, on the other hand, involves making small improvements to existing products or services to enhance their performance or competitiveness.

The book provides researchers and practitioners with valuable insights into how data analytics is employed in the domains of innovation, entrepreneurship, and marketing. Innovation analytics assists in identifying opportunities to develop new products and services, as well as enhance existing methods of product manufacturing and service delivery. Entrepreneurial analytics facilitates the transformation of innovative ideas into actionable strategies, empowering entrepreneurs to make data-driven decisions that drive their businesses forward. Marketing analytics plays a pivotal role in collecting, managing, assessing, and analyzing marketing data to predict trends, investigate customer preferences, and launch successful campaigns.

In conclusion, data analytics is a powerful tool that enables organizations to gain insights into their operations, customers, and market trends. By leveraging data analytics, organizations can make data-driven decisions, develop innovative products and services, and optimize their marketing strategies. This, in turn, fosters entrepreneurial activity and drives economic growth. As the amount of data generated continues to grow, the importance of data analytics will only increase, making it essential for organizations to invest in data analytics expertise and technology.

Weight: 353g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367697648