9 Aug 2022

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Managing Information: The Benefits of Mining Data

Format: APA

Academic level: College

Paper type: Essay (Any Type)

Words: 576

Pages: 2

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In the global marketplace, information is an agent and one of the key strategies to gain a competitive advantage. Customer data are raw materials which information can be produced. Today’s information-driven environment makes use of data in the management process. Data can be translated into information. If translated accurately and timely, it can lead to enhancing of a company’s competitive position and generate profits. Camp Wow Dog Park can make use of data collection through the ID scanner system. The ID scanner system would be successful by ensuring proper sources of customer data and gathering the data to gain competitive advantage and enhancing customer experience. 

Useful Information About Consumer Data 

Information to be gathered regarding customers will first entail the identification details. General identification details include the names, personal information, postal address information, email address information, and social network information. Customer data for the Camp Bow Wow Dog Park will involve the gathering of qualitative data regarding the nature of service offered. The number of visits to the park will be collected through the ID scanner system. The company also has a website which can be used to gather information regarding website visits, complaint details, customer details, and reviews of the service offered. 

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Gathering of Data 

Customer data can be collected in different ways such as directly asking customers or indirectly asking customers. Directly asking customers can be carried out after every visit to the park. Customers can be asked to give information regarding their experience. Customers can provide reviews through the website. Indirect customer information can be gathered through various strategies such as ID scans to record the number of visits and the time of the visits. The website can also be used to record indirect information regarding the website visits and time spent on the website. 

Using Data to Gain Competitive Advantage 

Data can be used to gain a competitive advantage by providing the company with insights regarding customer satisfaction. Data regarding peak times and when there is a surge of customers visiting the park can be used to gain a competitive advantage. Camp Bow Wow Dog Park can be prepared for the surge of customers by availing more employees in the park during that time. Reviews provided by various customers can be used to improve the nature of service offered. This can enhance product differentiation in order to gain a competitive advantage. 

Mining Data to Improve Customer Experience 

Mining data can play a huge role in furthering customer experience. For instance, the company can ensure that it avails a sufficient amount of service providers during peak hours. Customer concerns and complaints will be handled adequately during peak hours. The use of loyalty and reward system will enhance customer experience. Customers will enjoy the rewards through the card and this may lead to customer retention. Mining data can also provide useful information regarding the sales and monthly increase in the number of customers. The decrease in customers can be investigated and its reasons could be investigated to improve customer service. 

Benefits of Mining Data 

Data mining would have several other benefits for the institution. It can lead to repeat customers by enabling them to remain constantly competitive. Evaluation of customer information can lead to the provision of exclusive services to new customers to ensure that they can come back for more services. Extra business information can result in additional marketing efforts that increase profits. 

In conclusion, Camp Bow Wow Dag plans to use an ID scanner and to gather data regarding its consumers. The company can gather data through the use of the ID scanner and through the website. Translation of the data into information can lead to the gaining of competitive advantage for the company. Other benefits of data mining include improving customer experience, increasing customer loyalty and retention, and improving profits. 

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StudyBounty. (2023, September 16). Managing Information: The Benefits of Mining Data.
https://studybounty.com/managing-information-the-benefits-of-mining-data-essay

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