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What is a Tech stack?

12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A tech stack is a set of technologies used to develop and implement a piece of software or service. It usually consists of a combination of client-side and server-side software, databases, frameworks, programming languages, and other technologies needed to fully execute the program.
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What are common sampling problems?

12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Unbalanced sample size: an unbalanced sample size exists when the size of the sample has not been properly selected in relation to the size of the population. This can lead to bias in the results.

2. Incomplete coverage: incomplete coverage exists when not all units of the population are included in the sample, which may result in under- or over-representation of certain characteristics.

3. Non-random sampling: In non-random sampling, the elements of the population are not randomly selected, potentially biasing the results.

4. Unpredictable results: If the sample is not large enough, the results cannot be reliably predicted.

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What are common problems with customer acquisition?

12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Inadequate target group analysis: most companies have difficulty in correctly identifying their target group. As a result, they do not know how to address their customers.

2. Unclear advertising message: if companies cannot define very clearly what advertising message they want to convey, it becomes difficult to connect with potential customers.

3. Insufficient reach: if companies are not able to send their advertising to the widest possible audience, they will attract fewer customers.

4. Insufficient budget: if companies do not have the necessary funds for advertising activities, customer acquisition will be more difficult.

5. Lack of advertising friendliness: if companies are not able to respond to the needs and expectations of their target group, they are likely to be less successful.

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What are common problems in sales?

12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

- Poor communication between sales and customers

- Poorly trained sales staff

- No effective use of CRM software

- Too high fixed costs

- High customer churn

- Weak pricing

- No clear target group analysis

- Inadequate customer knowledge

- Failure to understand the market

- Failing strategic planning

- Inadequate negotiation skills

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What are common problems in marketing?

12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Insufficient market research: Insufficient market research is a common problem in marketing. It is important to know who your customers are, where they are, what they are buying and why they are buying it. If you don't do enough research, you won't know which strategies and campaigns will be most effective.

2. Unclear goals: Without clear goals, you can't effectively plan and implement your marketing strategies. Set clear goals, such as an increase in the number of customers or an increase in sales.

3. Insufficient budgets: a tight budget can be a problem when implementing marketing campaigns. If you do not have sufficient funds, you will not be able to provide the necessary resources, such as advertising and personnel.

4. Inappropriate advertising: if your advertising is not tailored to the right target market, it may be ineffective. Therefore, it is important to tailor your advertising to the needs of your target audience.

5. Inadequate customer care: customer care is an essential part of any successful marketing. Good customer care will help you retain your customers, attract new customers and increase your brand awareness.

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