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:

Depth Psychologies

An approach to psychology that emphasizes the exploration of the unconscious mind and its influence on behavior and personality.

Unconscious Mind

Part of the mind that is inaccessible to the conscious mind but affects thoughts and behaviors.

Psychodynamic Theorists

Experts who focus on the role of unconscious psychological processes and childhood experiences in shaping personality and behavior.

Interrelational Patterns

The recurring ways individuals interact and relate to each other within various types of relationships.