12/11/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
1. Inadequate leadership. A general manager must provide strong leadership to the organization. He or she must be able to motivate others and communicate a clear vision for the company.
2. Poor communication. A general manager must ensure that he sends the right information to the right people at the right time.
3. Underinvestment. A general manager must be willing to invest in the future to make the company a successful one.
4. Inefficient planning. A general manager must do thorough planning for the company to ensure that the company's goals are achieved.
5. Unclear corporate image. A general manager must project a consistent and coherent corporate image to inform, inspire, and motivate customers and employees.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Amazon AWS is a cloud computing platform offered by Amazon Web Services (AWS). It offers a wide range of cloud computing services that enable customers to achieve scalability and cost savings. These include computing, storage, databases, networking, analytics, machine learning, mobile and web applications, development tools, and more.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The Customer Acquisition Cost (CAC) is a key figure that indicates how much it costs a company to acquire a new customer. It includes all costs spent on reaching and acquiring new customers, such as advertising, sales promotion, selling costs, and customer service. This helps companies to review the efficiency of their marketing budget and evaluate whether they need to cut or increase their costs to attract more customers.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
An elevator pitch is a short, concise presentation of a business idea that can be explained in the time it takes to ride an elevator. It is a short, compelling summary of a product or service that is used to attract investors or potential customers.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Customer Lifetime Value (CLV) is a measurement that provides information about the value of a customer to a company. It measures the total expected revenue that the company can expect from a customer throughout the customer relationship. This includes not only the value of a single purchase, but also the value of recurring purchases a customer makes during their relationship with a company. CLV can help a company optimize its marketing strategy by prioritizing its investments in customers who have a higher CLV.