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Market analytics for providing better consumer services
Date Issued
2024
Publisher
Atlantis Press
ISBN
10.2991/978-94-6463-378-8_14
ISSN
2667-128X
Citation
Yuen, Man Ching, Yung, Chi Wai, Lyu, Xueqing, Hao, Yaxuan & Chung, Ze Kin (2024). Market analytics for providing better consumer services. In Chan, Alex Chi Keung, Chui, Raymond Chi Fai, Yuen, Connie Man Ching, Chan, Wendy Wing Lam, Siu, Nicolson Yat Fan, Thompson, Nigel Sidley, Law, Victor & Yung, Erica Chui Shan (Eds.). Proceedings of the positive technology international conference 2023 positive technology: Possible synergies between emerging technologies and positive psychology (PT 2023). Positive Technology International Conference 2023, Tung Wah College, Hong Kong SAR, China. Atlantis Press.
Type
Conference Paper
Abstract
Prologic Robotics is a local brand based in Hong Kong, established in 2010. The Prologic Robotics brand team focuses on developing cutting-edge intelligent automatic robots and launched the intelligent automatic vacuuming robot in the same year, committed to simplifying people’s lives through technology. In order to expand its influence in the market, we have conducted market analysis of Prologic using IBM data analysis technology. Firstly, we collected and organized a large amount of market data, including market share, consumer demand, and competitors’ information, based on its target market (Hong Kong). Secondly, we conducted descriptive statistical analysis to help Prologic understand the basic features of the data, such as mean, median, standard deviation, and the distribution of the data, in order to better understand market trends and consumer demand. Then, we used time series analysis, regression analysis, and machine learning algorithms to conduct predictive analysis, which helps the Prologic brand predict future market trends. Finally, we conducted market data mining for Prologic, helping the company discover patterns and relationships hidden in the data. In the future, in order to expand Prologic’s market competitiveness, we will continue to collect and organize market data from foreign markets (such as Seoul, Tokyo, Taipei, and Singapore) that Prologic benchmarks against, and continue to track and analyze Prologic’s market performance using IBM data analysis technology, providing more specific and accurate market analysis reports for the company. We believe that through these market analysis efforts, Prologic will be able to better meet consumer demand, improve market competitiveness, and achieve sustainable development.
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