Which of the Following Attributes or Dimensions of Big Data

question 116

Multiple Choice

Which of the following attributes or dimensions of big data is described as the amount of data generated?

• A) Volume
• B) Variety
• C) Veracity
• D) Velocity

Understand pricing strategies and their psychological impacts on consumer behavior.

Distinguish between different marketing channels used for the distribution of various products and services.

Comprehend the rationale behind price setting strategies for new and existing products, including reactions to competition.

Understand the concepts of distribution strategies and the factors influencing them.

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Definitions:

Confirmation Bias

The bias towards finding, interpreting, prioritizing, and reminiscing on details in a manner that affirms and supports one's prior beliefs or assumptions.

Groupthink

this is a psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

False Consensus Effect

is a cognitive bias where individuals overestimate how much others agree with their beliefs, attitudes, or behaviors.

Escalation Behavior

The phenomenon where individuals or groups continue to invest in a decision despite evidence of its ineffectiveness or failure.