Creating insights in large markets

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Today, firms face large and complex markets, in which they must make strategic and tactic decisions. However, their ability to make informed decisions is limited. First, they lack access to comprehensive data regarding the large markets in which they operate. Second, even in cases in which such data are available, traditional analysis methods in marketing cannot adequately address the vast quantities of data points involved—thousands of consumers, firms, and products. Yet, problems involving vast amounts of data are regularly solved by other research disciplines such as computer science, physics and biology, providing us with an opportunity to adapt their methods to the marketing context. This book combines a new data source with methods adapted from other research disciplines to provide firms with the insights they require for better decision making in large markets.