Module 5-9

Question 1

Elements of marketing

Answer 1

• product
  -price
  -place
  -promotion

Question 2

How can data improve the following

Answer 2

• customer acquisition
  -customer retention
  -customer revenue

Question 3

data create communication channels between firms and customers

Answer 3

step 1. The frim learning from the customer
-what does the customer want
step 2. the customer learning from the firm
-what does the firm reccommend
step 3. the firm as a creator of community
how can products and services bring people together

Question 4

data analytics in managment

Answer 4

most general of principles
applies to all aspects of business
focuses on running the business
good managment is essential to a stron firm (good decisions, happy employees)

Question 5

evaluative analytics helps answer the following:

Answer 5

what is working well, what can be improved?

Question 6

increasing customer profitability

Answer 6

Which customers will generate the most profit with the least effort?
§ By conducting segmentation analysis based on customer data, business analytics can
help identify and prioritize attractive micro-segments that are worth retaining, growing,
winning back, or acquiring.
§ By understanding different customer types and their characteristics, companies can
determine the optimal amount to invest in each segment and maximize their return on
investment.”
- Customer retention (reducing churn)
- Sales per customer

Question 7

The three areas of accounting

Answer 7

1. audit
   - certification process
   -internal audit within the corp
   -public (external audit) CPA
   2.Tax
   -helping individuals and corporations to pay taxes
   -tax strategy
2. adivsory
   -adive
   -consulting

Question 8

The ledger

Answer 8

• record of debits and credits
  -history of all previous activity
  -accountants updats ledger and maintain it
  -the statues of a business can be thought of as a group of ledgers
  -sales
  -expenses

Question 9

Four financial statements

Answer 9

1. Balance sheet - assets andn liabilities
2. income statement - a record of revenues and expenses
3. cash flow statement- tracking payments
4. statement of retaiend earnigns- what portion of company’s profits have been kept over a given period