Amazon Essay Example | Topics and Well Written Essays - 3000 words

Amazon - Essay Example This means that the company has successfully attracted the future clientele for itself. The young generation will continue using the online retailer throughout its life because they have had a good experience with the company. This is one of the greatest assets of Amazon.The company is also following cost leadership strategy with great success. The shift in the policy came after 2001 as it was the time when company decided that it has gained enough clientele to follow a cost leadership strategy. This strategy is working and it is expected to work in future as well. This is because in future more online retailers will come and competition for Amazon is increasing. The future competitors will come up with new innovations but the only way through which the new competitors can be fought is through cost cuttings. Any new competitor will not be able to compete with Amazon in future if the company offers excellent services at lowest price. Amazon is also currently trying to pursue a long te rm strategy and this is a good approach. The company should not focus on short term profits rather it should capitalize its brand name in a better way. The company is still in the growth phase therefore it should follow a growth oriented strategy. The lower profits in the short run can be accepted in favour of long term growth. The company is focusing on customer satisfaction and retention, according to the case. This strategy is also commendable as customers are the main source of revenue. Amazon is known to be customer friendly and this should remain the case in future as well. Customer base of the company is strong and this shows that customers are responding to the policies of the company. There are also certain problems in the long term strategy of the company. The company has not accumulated enough cash that is should have and it is not prepared to face any unseen economic disaster. Any unexpected economic problem can drive the company out of business and this is serious conce rn in the short run. The lower profits of the company through services are also a concern. The company should try to earn more and more revenue through advertisement. This is an area where the company is lacking. Google and Yahoo are making use of their brand name and presence to earn massive advertisement revenue. Amazon should do the same thing and should attract companies by selling places on its websites. This is an area where the company is lagging behind and more can be done in this regard. Long term growth strategy is good enough but short term cash accumulation should also under focus. Question 2 Turnaround strategy refers to a set of steps a company takes in order to rejuvenate its business that was previously not working in a desired manner. Businesses when facing serious problems are forced to think differently and come up with strategies that can bring new life to their company. Turnaround strategies help the company change its normal path and do something in order to pe rform better. Turnaround strategies involve reallocation of resources and the most common resource that is reallocated is the management. Companies are sometimes faced with problems that can only be solved by complete overhauling the way the business is run. Amazon is facing problems from its competitors and although the company is enjoying a first mover’s advantage, still competitors are quickly catching up. This is a problem for the company so turnaround strategy will aim at solving the problem of increasing competition. The company should start to think in a different way in order to save itself from the increased competition. The company should immediately turn its focus on its core activity and that is online

Data Mining Questions Essay Example | Topics and Well Written Essays - 1000 words

Data Mining Questions - Essay Example These searches contain documents, information about documents, data about data, text, audio, images and etc. Like information retrieval, data mining also involves gathering information. With data mining query, it is inquiries on trends on the information gathered from large databases or large amount of data. Data mining query uses software or web analysis services in sorting through large data and picking pieces of relative information to show patterns or relationships that are embedded, waiting to be discovered and possibly constructive. A database's performance is measured according to its design, effectiveness when used to inquire 'information', constantly updated and of course the amount of data available for which it was constructed for. Metric measures of performance are available to quantify the effectiveness of the information retrieval. These are precision, recall, F-measure and Mean-average precision. Precision is the proportion of the relevant documents to all documents retrieved and recall is the proportion of relevant documents that are retrieved to all relevant documents available. ... A database's performance is measured according to its design, effectiveness when used to inquire 'information', constantly updated and of course the amount of data available for which it was constructed for. Metric measures of performance are available to quantify the effectiveness of the information retrieval. These are precision, recall, F-measure and Mean-average precision. Precision is the proportion of the relevant documents to all documents retrieved and recall is the proportion of relevant documents that are retrieved to all relevant documents available. Consecutively, F-measure is the weighted harmonic mean of precision and recall and the mean average precision; where average precision refers to the average of the precision after each relevant document is retrieved. For data mining query, its measure of performance can be measured in the exactness of the outcome of the data mining to the intended inquiry and if there other possible usable discoveries produced in that query. 3.) Clearly explain the concept of summarization with an example. Reference: Wikipedia, Online Free Encyclopedia Data mining is centered on determining patterns from data. Queries often lead to a collection of patterns which can be regarded as a summary of data. Since pattern collections summarizing the data are often very large, it is then difficult to summarize pattern collections. Some of the proposed and studied methods of summarizing pattern collections are: 1) Quality value simplifications. 2) Pattern orderings. 3) Pattern chains and antichains. 4) Change profiles. 5) Inverse pattern discovery. For quality value simplifications, pattern collections are