Understanding Customers Better Has Helped Amazon and Others Become More

question 8

Multiple Choice

Understanding customers better has helped Amazon and others become more successful. The understanding comes primarily from

• A) collecting data about customers and transactions.
• B) developing a philosophy that is data analytics-centric.
• C) analyzing the vast data amounts routinely collected.
• D) asking the customers what they want.

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Definitions:

Linear Programming

A mathematical method used to determine the best possible outcome or solution from a given set of parameters or requirements, subject to certain constraints.

Aggregate Plan

An operational activity that involves translating annual and quarterly business plans into broad labor and output plans for the intermediate term of 3 to 18 months.

Material Cost

The total cost associated with the raw materials and components used in manufacturing a product.

Hourly Wage

A rate of pay based on the number of hours worked, distinct from salary pay which is fixed regardless of hours worked.