More and more academics, including economists, are recognizing the value of consumer data. In a mini-documentary, Booth professors discuss newly available data that is allowing researchers to gain a greater understanding of consumer behavior. Big data can provide answers to many questions previously could not even be asked. Questions such as: What impacts do brands have on consumers? or Can someone who likes one brand of coffee ever shake that preference? or If governments subsidizes a product, will consumers keep buying those products if the subsidy stops? With the right data and the right analytics answers to these questions can be found and that will deliver a new perspective on how organisations perform marketing.
Big Data Brings New Perspectives to Consumer Marketing – Video
