ANSWERS TO END OF SECTION REVIEW QUEST|oNs°···· Section 2.1 Review Questions 1. What does SiriusXM do? In what type of market does it conduct its business? SiriusXM is a provider of satellite rad io. They primarily provide services in What were the challenges? Comment on both technology and data-related challenges The company had several challenges. The first was the changing demographics of car owners. As cars were sold on the secondary market it was more difficult for them to identify new potential customers. Additionally, the company had a technical challenge because of an acquisition. There was uncertainty about their ability t all of the technolo ailable gh the What were the proposed solutions? The company felt that it would be able to maintain a strategic advantage if it egan working towards being a data-driven marketing company. This would allow them to more precisely target current and potential customers 4. How did they implement the proposed solutions? Did they face any implementation challenges? The company decided to bring all marketing work in- house. It was determined that it was important for them to clean the data and manage it in a central repository. To do this they partnered with Teradata. There were challenges with the implementation due to the variability in the data itself and the complexity of the task 5. What were the results and benefits? Were they worth the effort/investment? The company has been able to progress significantly in its goal of becoming data-driven marketing organization. With the new systems in place, it is possible to move campaigns faster with better visibility 6. Can you think of other companies facing similar challenges that can potentially benefit from similar data-driven marketing solutions? Most companies that market directly to end users could use a similar approach to managing and leveraging data in their marketing activities Copyright C2018 Pearson Education, Inc.3 Copyright © 2018Pearson Education, Inc. ANSWERS TO END OF SECTION REVIEW QUESTIONS      Section 2.1 Review Questions 1. What does SiriusXM do? In what type of market does it conduct its business? SiriusXM is a provider of satellite radio. They primarily provide services in automobiles. 2. What were the challenges? Comment on both technology and data-related challenges. The company had several challenges. The first was the changing demographics of car owners. As cars were sold on the secondary market it was more difficult for them to identify new potential customers. Additionally, the company had a technical challenge because of an acquisition. There was uncertainty about their ability to use all of the technology available through the acquisition. 3. What were the proposed solutions? The company felt that it would be able to maintain a strategic advantage if it began working towards being a data-driven marketing company. This would allow them to more precisely target current and potential customers. 4. How did they implement the proposed solutions? Did they face any implementation challenges? The company decided to bring all marketing work in-house. It was determined that it was important for them to clean the data and manage it in a central repository. To do this they partnered with Teradata. There were challenges with the implementation due to the variability in the data itself and the complexity of the task. 5. What were the results and benefits? Were they worth the effort/investment? The company has been able to progress significantly in its goal of becoming a data-driven marketing organization. With the new systems in place, it is possible to move campaigns faster with better visibility. 6. Can you think of other companies facing similar challenges that can potentially benefit from similar data-driven marketing solutions? Most companies that market directly to end users could use a similar approach to managing and leveraging data in their marketing activities