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Explain How Online Data Collection Has Profoundly Changed the Marketing

question 8

Essay

Explain how online data collection has profoundly changed the marketing research landscape along with reasons the Internet-based questionnaire has become the industry standard for surveys in virtually all high-Internet-penetration countries.


Definitions:

Weighted Moving Average

A statistical method used to analyze data points by giving different weights to different data points, commonly used in stock market analysis and forecasting.

Record Keeping

The systematic process of creating, maintaining, and managing records or documents for the purpose of providing accurate evidence of business transactions and activities.

Simple Exponential Smoothing

A time series forecasting method for univariate data that considers the weighted sum of past observations, with the weights declining exponentially as the observations get older.

Previous Forecast

An estimation or prediction made in the past about future events or conditions, often used as a reference for current planning.

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