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Big Data Analysis in Consumer Behavior: Evidence from the Retail, Healthcare, and Financial Services Industries
- 1 Institute of Problem Solving, King's College London, London, United Kingdom.
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Abstract
As a matter of fact, big data analytics has quickly become one of the cornerstones of various industries such as retail, healthcare, and financial services. This study delves into the applications of big data analytics within various sectors, exploring how models such as AISAS, PDCA, and customer segmentation can assist organizations in crafting successful data-driven strategies. Based on case studies, it is found that retailers utilizing the AISAS model can significantly increase customer engagement and optimize marketing strategies, while healthcare organizations applying PDCA through big data analytics improve patient outcomes and operational efficiencies. Financial services using customer segmentation models experience improved customer satisfaction and profitability. Big data analytics enable more customized, efficient decision-making processes. This extensive review explores how big data analytics can provide tailored solutions to complex industry problems. The findings from this investigation can assist businesses across multiple sectors understand both its practical benefits and possible downsides when implemented into operations.
Keywords
big data analysis, AISAS model, PDCA model, customer segmentation
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Cite this article
Wang,Y. (2024). Big Data Analysis in Consumer Behavior: Evidence from the Retail, Healthcare, and Financial Services Industries. Advances in Economics, Management and Political Sciences,59,231-237.
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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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Volume title: Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
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