To understand the “target market”!
The target market is colloquially defined as a group of people identified as ‘right’ for an offering. The target market should receive the majority of a firm’s time, resources, and attention.
The rationale is is that it is better to be focused than to be dispersed.
- Depersonification process to generate user analytics motivated by a desire to make more informed decisions about users.
- Personification process is ongoing, where user analytics data is used to make empathic and understanding decisions about users.
- Both processes employ similar ML approaches for organizations with large populations.
See more about using analytics to make impactful data-driven decisions in our book.
Jansen, B. J., Aldous, K, Salminen, J., Almerekhi, H. and Jung, S.G. (2023). Understanding Audiences, Customers, and Users via Analytics – An Introduction to the Employment of Web, Social, and Other Types of Digital People Data. Springer Nature.