The Use of Big Data in Customer Acquisition and Retention

DOI

10.2991/aebmr.k.220307.371How to use a DOI?

Keywords

Big data; Customer acquisition; Customer retention; Big data analytic

Abstract

This paper sought to examine the usefulness of big data in customer acquisition and retention. Data for the study were collected from secondary sources such as articles and online publications. The data were later analyzed using thematic content analysis. Findings indicated that big data is revolutionizing the interaction of companies with their customers. For instance, the study showed that the technology allows firms to learn about their customers and address their concerns before they occur. The findings also showed that big data is allowing firms to attract and retain clients. The technology achieves this role by offering insights that enable firms to provide customized services. However, the findings suggested that big data can bring out privacy and security concerns. Therefore, users need to put in measures to reduce the likelihood of increased privacy and security issues within their big data environment. For instance, firms can use data anonymization to reduce privacy issues within the big data ecosystem.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Xiaotian Wu
PY  - 2022
DA  - 2022/03/26
TI  - The Use of Big Data in Customer Acquisition and Retention
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 2258
EP  - 2265
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.371
DO  - 10.2991/aebmr.k.220307.371
ID  - Wu2022
ER  -