Need help with my Business question – I’m studying for my class.
See the prompt
The Board of Directors has asked the Chief Marketing Officer (your manager) to present, at the upcoming board
meeting, how the company will use data collection and predictive analytics to drive sales while respecting
customers’ concerns about privacy.
It’s a challenge to balance protecting the relationship with the customer and maximizing the company’s revenue.
In preparation for her presentation to the Board, the Chief Marketing Officer has asked you to write a brief paper
on the practices you intend to use to achieve this balance. You will need to consider how far you will go in using
predictive analytics and where you will draw the line on what is ethical when it comes to collecting data about
customers. For example, consider what the reaction of customers will be to your data practices, what the
potential marginal increase in sales will be and whether it is worth risking the trust of customers, how your
competitors may respond, what data privacy laws may be enacted, etc.
You may use resources beyond the assigned reading. If you do, include citations in footnotes