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Experience Management
Experience management is an effort by organizations to measure and improve the experiences they provide to customers as well as stakeholders like vendors, suppliers, employees, and shareholders. The concept posits that experiences comprise distinct economic offerings that create economic value and competitive advantage. Organizations have begun to collect experience data in addition to operational data, since experiences are seen as a competitive advantage. Experience management platforms provide various services to automate the process of identifying and improving experiences across an organization. Broader than customer experience, experience management now encompasses customer experience along with other areas, such as brand experience, employee experience and product experience, which are all seen as interrelated. History In 1994 Steve Haeckel and Lou Carbone collaborated on a seminal early article on experience management, titled "Engineering Customer Experiences", where ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stakeholder (corporate)
In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR). The definition of corporate responsibilities through a classification of stakeholders to consider has been criticized as creating a false dichotomy between the "shareholder model" and the "stakeholder model", or a false analogy of the obligations towards shareholders and other interested parties. Types Any action taken by any organization or any group might affect those people who are linked with them in the private sector. For examples these are parents, children, customers, owners ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bernd Schmitt
Bernd Herbert Schmitt is a professor of international business in the marketing department at Columbia Business School, Columbia University in New York. He is known for his research and books, as well as speaking and consulting on customer experience, customer happiness, branding, innovation. He is noted for his work in Asia on Asian markets and consumers. He wrote several influential books in these areas like ''Experiential Marketing'', ''Customer Experience Management'', ''Big Think Strategy'' and ''Happy Customers Everywhere''. He holds a PhD in Psychology from Cornell University and joined Columbia in 1988. In 2011, he also became the Executive Director of thInstitute on Asian Consumer Insight (ACI)in Singapore, funded by the Singapore Economic Development Board (EDB) and Nanyang Technological University (NTU). Schmitt has done research, teaching and consulting in many parts of the world, especially in Asia. From 1996 to 2000, he was the head of marketing at The China Europe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Management
Knowledge management (KM) is the set of procedures for producing, disseminating, utilizing, and overseeing an organization's knowledge and data. It alludes to a multidisciplinary strategy that maximizes knowledge utilization to accomplish organizational goals. Courses in business administration, information systems, management, libraries, and information science are all part of knowledge management, a discipline that has been around since 1991. Information and media, computer science, public health, and public policy are some of the other disciplines that may contribute to KM research. Numerous academic institutions provide master's degrees specifically focused on knowledge management. As a component of their IT, human resource management, or business strategy departments, many large corporations, government agencies, and nonprofit organizations have resources devoted to internal knowledge management initiatives. These organizations receive KM guidance from a number of consulting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistical Models
A statistical model is a mathematical model that embodies a set of statistical assumptions concerning the generation of sample data (and similar data from a larger population). A statistical model represents, often in considerably idealized form, the data-generating process. When referring specifically to probabilities, the corresponding term is probabilistic model. All statistical hypothesis tests and all statistical estimators are derived via statistical models. More generally, statistical models are part of the foundation of statistical inference. A statistical model is usually specified as a mathematical relationship between one or more random variables and other non-random variables. As such, a statistical model is "a formal representation of a theory" ( Herman Adèr quoting Kenneth Bollen). Introduction Informally, a statistical model can be thought of as a statistical assumption (or set of statistical assumptions) with a certain property: that the assumption allows us ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Predictive Analytics
Predictive analytics encompasses a variety of Statistics, statistical techniques from data mining, Predictive modelling, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. In business, predictive models exploit Pattern detection, patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions. The defining functional effect of these technical approaches is that predictive analytics provides a predictive score (probability) for each individual (customer, employee, healthcare patient, product SKU, vehicle, component, machine, or other organizational unit) in order to determine, inform, or influence organizational processes that pertain across large numbers of individuals, such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Artificial Intelligence
Artificial intelligence (AI) is the capability of computer, computational systems to perform tasks typically associated with human intelligence, such as learning, reasoning, problem-solving, perception, and decision-making. It is a field of research in computer science that develops and studies methods and software that enable machines to machine perception, perceive their environment and use machine learning, learning and intelligence to take actions that maximize their chances of achieving defined goals. High-profile applications of AI include advanced web search engines (e.g., Google Search); recommendation systems (used by YouTube, Amazon (company), Amazon, and Netflix); virtual assistants (e.g., Google Assistant, Siri, and Amazon Alexa, Alexa); autonomous vehicles (e.g., Waymo); Generative artificial intelligence, generative and Computational creativity, creative tools (e.g., ChatGPT and AI art); and Superintelligence, superhuman play and analysis in strategy games (e.g., ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unisys
Unisys Corporation is a global technology solutions company founded in 1986 and headquartered in Blue Bell, Pennsylvania. The company provides cloud, AI, digital workplace, logistics, and enterprise computing services. History Founding Unisys’ history dates back to 1873 with E. Remington & Sons and the introduction of the first commercially viable typewriter to use the QWERTY keyboard layout. Over a hundred years later, the company became known as Unisys in 1986 through the merger of Mainframe computer, mainframe corporations Sperry Corporation, Sperry and Burroughs Corporation, Burroughs, with Burroughs buying Sperry for $4.8 billion. The new company's name was chosen from over 31,000 submissions in an internal competition when Christian Machen submitted the word "Unisys", which was composed of parts of the words "united", "information", and "systems". The merger was the largest in the computer industry at the time and made Unisys the second-largest computer company wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Experience Economy
An experience economy is the sale of memorable experiences to customers. The term was first used in a 1998 article by B. Joseph Pine II and James H. Gilmore describing the next economy following the agrarian economy, the industrial economy, and the most recent service economy. Business theory Joseph Pine II and James H. Gilmore argue that businesses must orchestrate memorable events for their customers, and that memory itself becomes the product: the "experience". More advanced experience businesses can begin charging for the value of the "transformation" that an experience offers, e.g. as education offerings might do if they were able to participate in the value that is created by the educated individual. This, they argue, is a natural progression in the value added by the business over and above its inputs. Although the concept of the experience economy was initially focused on business, observations and theories have crossed into tourism, and architecture. The experience ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value (economics)
In economics, economic value is a measure of the benefit provided by a goods, good or service (economics), service to an Agent (economics), economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit. Economic value is generally measured through units of currency, and the interpretation is therefore "what is the maximum amount of money a person is willing and able to pay for a good or service?” Value for money is often expressed in comparative terms, such as "better", or "best value for money", but may also be expressed in absolute terms, such as where a deal does, or does not, offer value for money. Among the competing schools of economic theory there are differing Theory of value (economics), theories of value. Economic value is ''not'' the same as Price, market price, nor is economic value the same thing as market value. If a consumer is willing to buy a good, it implies tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Proposition
In marketing, a company’s value proposition is the full mix of benefits or value (economics), economic value which it promises to deliver to the current and future customers (i.e., a market segment) who will buy their Product (business), products and/or Service (economics), services. It is part of a company's overall marketing strategy which differentiates its brand and fully Positioning (marketing), positions it in the market. A value proposition can apply to an entire organization, parts thereof, customer accounts, or products and services. Creating a value proposition is a part of the overall business strategy of a company. Robert S. Kaplan, Kaplan and Norton note: Developing a value proposition is based on a review and analysis of the Cost-benefit analysis, benefits, Economic cost, costs, and value that an organization can deliver to its customers, prospective customers, and other constituent groups within and outside the organization. It is also a positioning of value, wher ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sense
A sense is a biological system used by an organism for sensation, the process of gathering information about the surroundings through the detection of Stimulus (physiology), stimuli. Although, in some cultures, five human senses were traditionally identified as such (namely Visual perception, sight, Olfaction, smell, Somatosensory system, touch, taste, and hearing), many more are now recognized. Senses used by non-human organisms are even greater in variety and number. During sensation, sense organs collect various stimuli (such as a sound or smell) for Transduction (physiology), transduction, meaning transformation into a form that can be understood by the brain. Sensation and perception are fundamental to nearly every aspect of an organism's cognition, behavior and thought. In organisms, a sensory organ consists of a group of interrelated Sensory neuron, sensory cells that respond to a specific type of physical stimulus. Via Cranial nerves, cranial and spinal nerves (nerves ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
