Critically analyze and answer the following questions: Please addre...
Question
Critically analyze and answer the following questions: Please address these issues in an essay.
1. How should customer data and research inform new product development decisions in music organizations?
2. What is appropriate vs. inappropriate data to use or collect in making product development decisions?
1. How should customer data and research inform new product development decisions in music organizations?
2. What is appropriate vs. inappropriate data to use or collect in making product development decisions?
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Big Data and Music Development and Marketing
The advent of digital technology has enabled big data collection, which companies are now using to understand consumer behavior and respond appropriately. Whole multibillion companies such as Facebook and Netflix rely on big data analytics to study consumer behavior. It seems that this approach has caught up with the music industry. One of the complexities arising from big data analytics to inform music is that using data for product development could stifle creativity. On the other side, it could provide valuable data that a company can use to respond better to consumer needs. This article will highlight how consumer data should inform product development in music organizations and the type of data such companies should use or collect.
How music organizations should use customer data and research in new product development
Customer data and research can inform new product development in music organizations. However, it should not be the sole driver of product development.
The advent of digital technology has enabled big data collection, which companies are now using to understand consumer behavior and respond appropriately. Whole multibillion companies such as Facebook and Netflix rely on big data analytics to study consumer behavior. It seems that this approach has caught up with the music industry. One of the complexities arising from big data analytics to inform music is that using data for product development could stifle creativity. On the other side, it could provide valuable data that a company can use to respond better to consumer needs. This article will highlight how consumer data should inform product development in music organizations and the type of data such companies should use or collect.
How music organizations should use customer data and research in new product development
Customer data and research can inform new product development in music organizations. However, it should not be the sole driver of product development.
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