Steve Has Convinced Top Management at His Company That They

question 51

Multiple Choice

Steve has convinced top management at his company that they can use data-mining techniques to develop new marketing strategies. One of the keys to the success of his suggestion is

• A) obtaining a powerful mainframe computer that can perform sophisticated statistical analysis on huge amounts of data.
• B) converting all data into a quantitative format so that it can be easily manipulated.
• C) outsourcing all IT functions to an outside expert that can look at the data with "fresh eyes."
• D) finding a way to access and integrate information from all of the different departments and divisions within the organization.

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Definitions:

Economic System

The framework through which a society allocates resources and distributes goods and services among its population.

Individual Bargaining Agreements

Contracts negotiated between an individual employee and their employer regarding terms of employment, separate from collective bargaining agreements.

Government Approval

The formal endorsement or permission granted by a governmental authority for a specific action, policy, or project.

High-Level-Tripartite

A form of negotiations or discussions involving three parties, usually the government, employers, and labor unions, focusing on broad or significant issues.