Lecture 10 Flashcards
(16 cards)
What are the nine benefits of digitalization?
Interactivity,
Individualization/Customization,
Intelligence/Measurability,
Channel Integration,
Independence of Location,
Dependence on Location,
Accountability,
Testing,
Flexibility
What are the five Vs of big data?
Volume
Variety
Velocity
Veracity
Value
What are the five V’s of Big Data?
Volume, Variety, Velocity, Veracity, and Value.
Which influencer size generates optimal engagement according to research?
Mid-size influencers with around 100K–500K followers deliver the highest engagement rates.
By how much did spending per order increase when customers used self‑order kiosks instead of employees?
About €1.42 more per order, a 16 % increase.
Give two general benefits of digitalization for businesses.
Examples: Location independence, Accountability, Flexibility, Interactivity, Individualization, Intelligence, Channel integration.
State the definition of Machine Learning given in the lecture.
The field of study focused on developing computer algorithms that transform data into intelligent action.
List the five main steps in a typical machine‑learning workflow.
Collect data, Explore & prepare data, Train model, Evaluate performance, Improve model.
What psychological processes link influencer contact to purchase intention?
Processes such as attention, emotions, motivation, attitudes, learning, and memory.
Name one marketing function chatbots can perform.
Direct customers to products, make personalized recommendations, offer coupons, or handle complaints.
What negative effect can anthropomorphic chatbots have on angry customers?
They reduce customer satisfaction, firm evaluations, and future purchase intentions.
How can computer‑vision help reduce product return costs for online retailers?
By analyzing product images to predict which items are likely to be returned, enabling adjustments before listing.
Which machine‑learning algorithm achieved the highest balanced accuracy in predicting corporate crises?
XGBoost, with about 85 % balanced accuracy.
Why are databases preferred over file‑based data storage?
They enable data independence, integration, consistency, minimal redundancy, uniform security, and easier access & maintenance.
What is the key objective of machine learning emphasized in the lecture?
To make accurate predictions that support evidence‑based decision‑making.
