An Effective Database Contains

question 112

Multiple Choice

An effective database contains:

• A)every transaction a customer has with a firm and interactions that resulted in purchases.
• B)all transactions and all interactions a customer has with a firm.
• C)transactions and interactions of customers that have a high lifetime value.
• D)only the transactions of customers.

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Definitions:

3C Model

A business model that focuses on three key factors: Company, Customer, and Competitor, to guide strategic development and decision-making.

Coordination

Coordination refers to the process of organizing people or groups so that they work together efficiently and effectively.

Cooperation

A process where individuals, organizations, or countries work together towards common goals or interests.

Resource Dependency

A theory that organizations depend on external resources to function, and their strategies are designed to acquire and maintain these resources.