“Big Data” is fast becoming an important asset for companies. Deciphering data can lead to many useful insights about consumers and their preferences. But the reality is that only a handful of companies really understand how to leverage Big Data in the right way. Big Data is not just about the size of data, but also finding ways to mine the information hidden in the data.
Oded Netzer, the Philip H. Geier Jr. Associate Professor at Columbia University, has been focused on customer relationship management in a big way. During a recent visit to Beijing, Netzer sat down with Li Yang, Assistant Professor of Marketing at CKGSB, and elaborated on how companies can use data to come up with more product/service differentiation to achieve better customer acquisition and retention, and to survive and win in the increasingly competitive business environment.