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Web of Proceedings - Francis Academic Press
Web of Proceedings - Francis Academic Press

Innovation and Application of Statistical Methods in Market Analysis in the Era of Big Data

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DOI: 10.25236/icfmhss.2024.110

Author(s)

Yulong Chen

Corresponding Author

Yulong Chen

Abstract

In the era of big data, enterprises are facing an unprecedented flood of data, which contains rich user needs and market trend information. By analyzing this data in depth, companies can more accurately understand user needs, gain insights into consumer preferences and behavior patterns. At the same time, big data analysis can also help companies analyze competitors' products and market strategies, providing strong basis for their own product innovation and service improvement. Data plays a crucial role in modern enterprise market analysis. Effective data analysis and processing can help companies better grasp market dynamics, optimize resource allocation, and improve operational efficiency. Statistical analysis, as an important tool for data processing, has unique advantages in extracting data value and revealing data patterns. By using statistical analysis methods, enterprises can delve deeper into market data, improve the level of market analysis, and provide scientific and accurate basis for strategic decision-making. This article aims to explore the innovation and application of statistical methods in market analysis in the era of big data.

Keywords

The era of big data, Statistical methods, Market analysis, Innovation and application