12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Brand awareness is the ability of a brand to make itself known to the public, customers and other market participants. This is achieved through a combination of factors such as advertising, marketing and PR. Brand awareness is an important element in building a brand and helps build strong customer loyalty. It is also a factor that plays a role in pricing, as a well-known brand can charge more prices and be able to make a higher profit.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Sales promotion is a combination of various marketing and sales activities designed to attract and increase consumer interest in a particular product or service. Such activities often include advertising, promotions, sales price reductions, gifts, contests, and events designed to increase customer interest in a product or service and drive sales.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Regression analysis is a mathematical technique used to predict future outcomes and determine the relationships between different variables. It can be used to predict the effect of a particular influencing factor on another variable or to determine which variables contribute most strongly to a particular metric. Applications of regression analysis include predicting sales volumes, determining prices, and determining credit risk.
12/05/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
1. Be honest and transparent: Customers want to know where they stand. Therefore, provide open and honest information about your company, products and services.
2. Be reliable: Customers need to be able to rely on you to deliver on your promises. If you do not disappoint your customers, they will trust you more.
3. Communicate: It is important that you communicate regularly with your customers to show them that you are interested in them.
4. Provide quality and service: Provide your customers with a high quality product or service at a reasonable price. In addition, you should provide excellent customer service.
5. Create a trustworthy brand: a strong brand can create a lot of trust. Make sure customers see your company as credible and trustworthy.
6. Be personal: Show your customers that you care about them as a person. Be personal and build a relationship with them.
12/05/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A crawler is a program that navigates the World Wide Web. It follows links to other pages and downloads their content to analyze it. Thus, it collects information about the structure of the web and stores it in a database. For example, it can collect all available links or all words on the page. Afterwards, this database can be used for different purposes, e.g. for search engines, for price comparisons or for scientific research.