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What advances has IT brought to decision making for consumers and producers?

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  • 06-02-2007 11:52am
    #1
    eurotrotter
    Registered Users Posts: 1,073 ✭✭✭


    just doing an essay for economics
    here are some o fmy thought on this:
    quicker access to data
    speed of manipulation and analysis of data
    more informed decisions can be made
    relationships between data that would not normally be seen by humans
    for example the beer and pampers sales in some supermarket in the USA
    can anyone add to this list
    would really appreciate it
    its wrecking my head!
    thanks
    ed :)


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    #2
    Cuddlesworth
    Registered Users Posts: 13,983 ✭✭✭✭Cuddlesworth


    eurotrotter wrote:
    quicker access to data

    User generated Data is not very reliable, so you end up trawling through en-edited piles of crap. Ie; Internet
    eurotrotter wrote:
    speed of manipulation and analysis of data

    For who is it quicker? In the past a person would have advisers/secretary's and work in a team to Analise large amounts of data. All it has done is placed a bigger workload on a single person.
    eurotrotter wrote:
    more informed decisions can be made

    I have yet to work in a office where informed decisions are made
    eurotrotter wrote:
    relationships between data that would not normally be seen by humans

    ? Nobody likes a peeping Tom.
    eurotrotter wrote:
    for example the beer and pampers sales in some supermarket in the USA

    Now that you mention it I can see how the increase in beer sales among the youth of America can lead to a proportionate increase in Nappy sales 9 months later. Good spot!
    eurotrotter wrote:
    can anyone add to this list

    Not really but hopefully somebody else will have something better to say. Seems like a interesting essay topic.


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    #3
    Cake Fiend
    Registered Users Posts: 5,335 ✭✭✭Cake Fiend


    Online shopping would be an obvious thing to look at - people now have a wider choice, quicker access to this choice (visiting amazon.com vs trawling the high street), easier comparison between brands/shops/prices etc, and easy access to hundreds of other consumers' opinions on said products.

    Producers or vendors in this area have the advantages of quick, convenient stock control, lower premises expenses, a wider customer base.


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    #4
    DublinWriter
    Registered Users Posts: 9,555 ✭✭✭DublinWriter


    Wow! That's a very broad essay in scope!

    I would have said the way a leading UK supermarket chain used Data Warehousing to find out that males under 25 were buying nappies between 6pm and 9pm on a Friday night, so decided to move the beer section closer to nappy section.

    But your essay title states 'producers' not 'resellers'.

    For producers, there's a quicker feedback from their distribution chains based on ATM(till) generated data. They can spot trends a lot more quickly and apply the appropriate marketing strategy/product adjustments.

    For consumers, they have the abilty to do a little more homework on the 'net.

    As I said, the scope of your essay is really enormous and sounds like something a lazy lecturer tossed out one lazy Friday at the pub. It really should be focused more on a particular sector to have any real meaning in terms of the research you'll have to do.


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