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Glossary / Lexicon

What does a Data Consultant do?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A Data Consultant is an expert who helps organizations effectively use their data to make informed business decisions and improve performance. The responsibilities of a Data Consultant typically include:

Data Analysis: the Data Consultant analyzes and interprets data to identify trends, patterns, and relationships.

Data Management: the Data Consultant helps organize, integrate, and maintain data.

Data Visualization: the Data Consultant creates data visualizations such as charts, tables, and graphs to present the results of data analysis.

Advising: The Data Consultant advises companies on data-related issues and makes recommendations to improve business performance.

Training: The Data Consultant trains employees to ensure they can use data effectively.

A Data Consultant must be knowledgeable in statistics, programming, and database technology. In addition, he or she must be able to solve complex data-related problems and develop strategic solutions for the business.

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What is data extraction?

04/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Data extraction refers to the process of extracting or capturing data from various sources such as text documents, web pages, databases, or other types of data sets. It is an important step in data analysis and is often used to identify specific information or patterns from unstructured data.

Extraction of data can be done manually or automated. Manual extraction is often time-consuming and can be error-prone, especially with large data sets. Automated extraction methods, such as web scraping tools or machine learning techniques, can make data extraction easier and faster.

The extracted data can be used for a variety of purposes, such as creating databases, performing analytics, or processing in other applications and systems.

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What is the target group understanding?

04/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Audience understanding refers to the ability of a company or marketing campaign to understand and respond to the needs, wants, and expectations of the target audience. Audience understanding is an important aspect of marketing because it enables effective marketing messages and strategies to be developed that are tailored to the specific needs and desires of the target audience.

Audience understanding includes analysis of demographic characteristics such as age, gender, education, and income, as well as psychographic factors such as personality, values, interests, and lifestyle. It also includes an examination of the needs and problems that the target audience has and how the company's product or service can meet those needs.

A good understanding of the target audience allows a company to more effectively tailor its marketing messages by matching the language, tone, and content of the message to the needs and interests of the target audience. This allows the company to increase the likelihood that the target audience will respond to the marketing message and become interested in the product or service.

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What is the test customer strategy?

04/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The test customer strategy, also called mystery shopping, is a market research method in which companies use test customers (mystery shoppers) to check the service and quality of their products. The test customers act as undercover customers and visit the company, buy products or use services, and then give a detailed report about their experience.

The test customer strategy is an important tool for measuring customer satisfaction and identifying weaknesses in service. Companies use this method to ensure that their employees are providing customers with appropriate advice and good service, in order to maintain the company's reputation and build customer loyalty.

The test customer strategy is commonly used in various industries such as retail, hospitality, banking and insurance.

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What is organic lead generation (OLG)?

04/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Organic lead generation (OLG) refers to the practice of attracting potential customers in a natural and non-paid way by creating content and offers that are relevant and interesting to them. Unlike paid lead generation, which involves placing ads to drive traffic to a website, organic lead generation uses strategies such as search engine optimization (SEO), content marketing and social media engagement to drive traffic to the website and attract potential customers. The goal is to generate high-quality leads by convincing potential customers of your products or services, rather than flooding them with advertising.
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