Empowering Consumer Research with Data Science
The consumer is ultimately the key determinant of success of an organization. The need for an in-depth and objective understanding of the consumers, therefore, in terms of what runs in their minds and hearts for the way they behave and act when they go about making complex purchase decisions cannot be over-emphasized. Borrowed from the disciplines of psychology, economics and sociology, the study of consumer behavior isan interdisciplinary and continually-evolving science since long. Other data-science related areas, such as, Big Data, Artificial Intelligence, Machine Learning, Neural Networks and Internet of Things are also being increasingly adopted to analyze and predict consumer behavior.This paper attempts to explore the significance of Big Data and Artificial Intelligence in empowering consumer research.
Consumer Behavior, Big Data, Artificial Intelligence, Customer, Analysis