Data Analytics Benefits Retailers by

question 21

Multiple Choice

Data analytics benefits retailers by

• A) accurately predicting changes in the external environment.
• B) allowing merchants to provide personalized, real-time messaging and promotions.
• C) eliminating the need for wholesaling and the associated markups that raise prices.
• D) shortening the retail life cycle.
• E) improving sales per square foot or same-store sales growth by providing access to alternate channels.

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Definitions:

Gross World Product

The market value of all final goods and services produced in the world during a given period, usually a year.

Net National Product

The total value of goods produced and services provided by a country during a year, minus depreciation. It reflects the total economic output that is not consumed through wear and tear.

National Income

The total value of all income earned within a country, including wages, rents, interest, and profits.

Flow Variable

A measure of something over an interval of time, such as your spending per week.