In Business, the Goal Is to Choose the Best Data

question 91

Multiple Choice

In business, the goal is to choose the best data management tool to meet the needs of the business. Margaret is taking over the task of managing her company’s information needs. She knows that the best tool depends on several factors, including cost, versatility, and ease of use.
-Margaret is considering purchasing a custom software package.Which of the following will be true?

• A) The predefined fields mean easy programming and setup.
• B) It would be best for simple flat files that involve calculations.
• C) Such software will likely involve a steep learning curve.
• D) The cost of development is generally high,but the result will be versatile.

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Definitions:

Large Number

Refers to a quantity significant enough to influence or be noticed within a particular context, often used in statistical or mathematical analyses.

Monopolistically Competitive

Describes a market structure where many firms sell products that are similar but not identical, allowing for competition based on product differentiation.

Financial Planners

Professionals who help individuals and organizations create programs to meet long-term financial goals, such as retirement, education, and investment strategies.

Similar Substitutes

Products or services that satisfy the same needs or desires and can be used in place of one another.