The Auto Insurance Company That Uses an App to Monitor

question 40

Multiple Choice

The auto insurance company that uses an App to monitor your driving behavior, collecting thousands of data points in the process, as part of providing you a policy quote illustrates which dimension of Big Data?

• A) Volume
• B) Vastness
• C) Velocity
• D) Variety
• E) Value

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Definitions:

Potential Competitors

Potential competitors are businesses or entities not currently in a market but have the capability and interest to enter the market and compete for the same customer base.

Price-sensitive

Describes consumers or markets that are highly responsive to changes in price, where price changes can significantly impact demand.

Customer Service

Activities and support provided by a company to its customers before, during, and after a purchase to enhance satisfaction and loyalty.

Consumer Income

The total amount of income available to an individual or household for spending, saving, or investment after taxes.