Define Three Categories of Analytics

question 6

Essay

Define three categories of analytics.

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Definitions:

Cost Advantages

Economic benefits enjoyed by a company that can produce goods or services at a lower cost compared to its competitors, often due to greater efficiency or economies of scale.

Differentiated Products

Goods or services that are distinct in quality, features, design, or brand from those offered by competitors in the same market.

Market Demand

The total quantity of a product or service that consumers are willing and able to purchase at various prices within a given period.

Competitive Industry

A market in which multiple firms compete against each other to sell their goods or services to consumers.