HC2022 Market Research: Technology's Impact on Business Report

This report examines the impact of technology on marketing research within today's business environment, focusing on JWS Research's potential adoption of data analytics and social media integration. The report highlights the growing influence of social media and big data in understanding customer behavior, improving marketing strategies, and enhancing business decision-making. It discusses the benefits of using social media analytics for targeted advertising, brand awareness, and gaining insights from competitor activities. The analysis suggests that embracing these technologies can lead to increased customer acquisition, reduced costs, and improved overall business performance for JWS Research. Desklib offers a wealth of similar documents and study tools for students.

Mar et e earc A i nment ndi id al eportHC2022 k R s h ss g 1 – I v u R
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Executive Summary
The market research has been about JWS Research which is an independent and a privately-
owned company based in Sydney for handling the marketing research. It works on handling the
different new technologies for the enhancement of marketing capability with providing the
efficient and the accurate results for the client. The company has been focusing on joining the
data analytics for the users where their major source would be the social media.

Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................2
Evidence for Marketing Research and Potential role for data analytics..........................................2
Conclusion.......................................................................................................................................3
Bibliography....................................................................................................................................4

Introduction
JWS Research is about marketing research with new technologies and techniques that works
towards the improvement in marketing capabilities and then provide the effective services for the
clients. The major focus is on how the technology works with the major impact on marketing
research in today’s business environment. The report mainly aims to identify what company
standards to benefit if JWS Research tend to adapt the new technology and persuade the
Executive Team for making the decisions.
Evidence for Marketing Research and Potential role for data analytics
JWS is working with ACT Government, Cancer Institute NSW and the Government where they
are trying to join the early adopters of data analytics technology users with major source of data.
With the growing population, the use of social media has a major impact in day-to-day lives
where the data discovery, collection, preparation and the analysis involves the specification of
data analysis methods. It includes the challenges that are related to spreading information in
different domains like business, entertainment and the crisis management. The enormous growth
of social media has led to increased data accumulation where the platforms tend to offer the
responsibilities of data formats including the textual data1. The data can be divided into the
unstructured and the structured data with proper analysis. The big data has been able to shape the
lives through social media analytics where the user information is collected on social networking
platforms that allows the marketers for better understanding of customer behaviour.
The big data allow the marketers to connect with eh target audience with increasing the profits
which leads to the lowering down of the costs of advertisements. Here, the focus is on how the
business is able to spend more on advertisement of individuals who are not interested in the
matter. The big data industry deals with the sets of data that can reach different applications and
handle the translation of massive data sets into information2. The social media websites use the
1 Chiang, R.H., Grover, V., Liang, T.P. and Zhang, D., 2018. Special Issue: Strategic Value of
Big Data and Business Analytics.
2 Tufekci, Z., 2014. Big Questions for Social Media Big Data: Representativeness, Validity and
Other Methodological Pitfalls. ICWSM, 14, pp.505-514.

data to store the customisation of newsfeeds with users who are served for what they actually
want to see. The social media analytics is based on growing the business to make better
decisions and build the strong strategy to improve customer experience and build brand
awareness. There are different ways that accompanies the acquisition with connection to the
professional world for connected, intelligent and productive experiences/ The social media
analytics help in understanding the target audience where the focus is on defining the segments
of audience with increased engagement and responsiveness3. The marketing software company
need to handle the increased leads with generation through social media. The social media
analytics can help in learning from the competition with monitoring and analysing the
unstructured information that will help the companies to stay informed about the latest details
from the competitors.
JWS is mainly focusing on the emerging technology where the main communication has been to
share the details over the network. The content is generated, exchanged and then stored for
representing an absolute unending flood of data wealth. This is then added to the huge array of
social media through blogs, status updates and the discussions on forum. The traditional business
intelligence information could offer the perspectives where the business, consumers and the
organisations could relate to work in a way for interacting with products, services and the global
economy. The social media analytics helps in processing the collection of information and the
analytics could be done in applications like business with changing amendments, education etc.
The company can make use of big data to recognize the personality attributes from the posts like
emails, and the social posts which are obtained through insights about people. The users will
then uncover the deep understanding of the needs, personalities and values that leads to driving
personalisation4. The promotion and targeting of customers could be through use of big data.
Here, the information can test functional message with adjustment of plans to leverage and
predict the tests which are mainly specific for consumer messages. The use of data in social
3 Weingartner, S. and Hunter, T., 2018. Examining Social Media Governance in the Age of Big
Data. Academy of Management Global Proceedings, (2018), p.24.
4 Xu, Z., Liu, Y., Yen, N., Mei, L., Luo, X., Wei, X. and Hu, C., 2016. Crowdsourcing based
description of urban emergency events using social media big data. IEEE Transactions on Cloud
Computing, 10, p.1109.

media could be also helpful in increasing the brand importance and then track the clients from
social sites. The improved effectiveness of the campaigns focus on deriving the actionable
insights. For JWS, the data can include and gain more customers with reduced churning. The
analysis of the data is through equipping the market team with right preferences, change in
demands and habits which will lead to improvement in business experience as well 5.
Conclusion
The social media marketing data has been a fuel that will lead to power up the digital
campaigning towards success. It might have certain growing popularity like the content
marketing and search engine optimisation. The marketing teams need to be comfortable with the
different channels so that the customers can realize about the value generated and the teams also
need to learn about the non-conventional sources of data like the social posts, consumer
transaction and search information6. The social media marketing has been able to analyse the
backup from insights with future campaigning and activities with degree of certainty. This aspect
of business helps in constantly questioning the offerings with offering the right customer
experience.
5 Saxton, G.D., 2016. CSR, Big Data, and Accounting: Firms' Use of Social Media for CSR-
Focused Reporting, Accountability, and Reputation Gain.
6 Yang, M., Kiang, M. and Shang, W., 2015. Filtering big data from social media–Building an
early warning system for adverse drug reactions. Journal of biomedical informatics, 54, pp.230-
240.

Bibliography
Chiang, R.H., Grover, V., Liang, T.P. and Zhang, D., 2018. Special Issue: Strategic Value of Big
Data and Business Analytics.
Saxton, G.D., 2016. CSR, Big Data, and Accounting: Firms' Use of Social Media for CSR-
Focused Reporting, Accountability, and Reputation Gain.
Tufekci, Z., 2014. Big Questions for Social Media Big Data: Representativeness, Validity and
Other Methodological Pitfalls. ICWSM, 14, pp.505-514.
Weingartner, S. and Hunter, T., 2018. Examining Social Media Governance in the Age of Big
Data. Academy of Management Global Proceedings, (2018), p.24.
Xu, Z., Liu, Y., Yen, N., Mei, L., Luo, X., Wei, X. and Hu, C., 2016. Crowdsourcing based
description of urban emergency events using social media big data. IEEE Transactions on Cloud
Computing, 10, p.1109.
Yang, M., Kiang, M. and Shang, W., 2015. Filtering big data from social media–Building an
early warning system for adverse drug reactions. Journal of biomedical informatics, 54, pp.230-
240.