NetbaseQuid is a company that uses data and technology to analyze consumer behaviour. This will show you who the target market is, what they’re interested in, their psychographic profile, and how they use the internet. Doing this helps them develop new ideas around products or services which will work best for that particular audience. This technology has been used by companies such as 3M, IBM, Scholastic Publishing, and Autodesk. They have successfully helped many customers with marketing campaigns by giving them information about the target consumer’s preferences before launching an ad campaign or product line.
Services Offered at NetbaseQuid
1. Targeting: They offer what is deemed as an “enrichment” for data analysis. This means that input data is split into various categories and subcategories, which helps determine what information each category may contain.
2. Targeting: This process helps to find out information about the target audience. Like other high-level services, it takes input data and categorizes it into various subcategories. The information is entered into a data model, which can be used to find out more about the target consumers and their preferences.
3. Data Mining: This is another process by which information is collected about the target audience. They can collect this info from various sources such as website cookies, flash cookies, and various data collection software (like Google Analytics). It allows them to organize the info in a way that shows statistical significance between different pieces of information (ex., City with highest search volume = Chicago).
4. Mining of Knowledge: This is a hypothesis-driven process. It takes information collected through the previous processes and applies it to previously collected data. This leads to a new idea, which can be tested (in a lab setting) and whether or not they are correct.
5. Fusion: This process involves connecting two sets of data and then applying computer technology to make inferences from it, such as combining the search traffic statistics for an online business with the psychographic profiles of consumers who might want to become customers.
6. Marketing: They classify the target audience into various psychographic categories, which are then used to determine the best marketing strategy when reaching out to them. As a result, their marketing efforts will be more effective.
How a Patient Journey to Make Marketing Decisions
1. Data collection. They collect data through various sources, such as cookies and site visits. This is then analyzed with the help of data mining, which categorizes the information into different subcategories for further analysis. The results are then put into a model (like a data map) to simplify the analysis and make it easier to understand.
2. Analysis of knowledge: The results from Data Mining are analyzed and applied to previously collected data to see if something interesting pops up. Something interesting may open up a new opportunity for the target audience (ex: Targeting a new product line).
3. Fusion of Knowledge: After the results have shown something worth exploring, they begin to run a hypothesis in a lab setting. They will create an idea around it and then see if their prediction is correct.
4. Action: After the lab test verifies the results, they use their findings to develop a strategy for approaching the target audience with their marketing campaign to sell products or services.
5. Marketing: The marketing strategy will come from their hypothesis and knowledge gained through the fusion process. This knowledge is passed on to the target audience through direct messages, social media, and e-mail.
6. Results: Using Patient Journey, they can better understand what people want and what they’re looking for. This will allow them to develop products that would benefit the target audience.
The application of technology and data science to marketing is nothing new, but NetbaseQuid is one of the first to use it commercially. This service is available for small businesses and startups, allowing them to understand their target audience’s desires better when developing their products or services. This will allow companies like them to make well-educated decisions as they seek new ways to reach customers. It can be used as a marketing strategy to provide promotions and incentives to customers who have engaged with the company during their experience.
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