At Its Core,data Analytics Fits into the Information Value Chain

question 17

Multiple Choice

At its core,data analytics fits into the information value chain in which of the following ways?

• A)The process of data analytics aims at transforming raw data into valuable information.
• B)Data analytics aims to make an organization's conversion process more efficient.
• C)Data analytics requires organizations to share synced data with upstream and downstream business partners.
• D)The process of data analytics is geared toward providing additional insight into customer activities and preferences.

---

Definitions:

Social Cost

The total cost to society, including both private costs and any external costs, from producing or consuming a good or service.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society.

Social Welfare

A set of government programs aimed at providing support to the needy in society, ensuring a minimum standard of living and protection against economic risks.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from the production and consumption of goods.