Using Data to Understand Customers/clients and Business Operations to Sustain

question 1

Multiple Choice

Using data to understand customers/clients and business operations to sustain and foster growth and profitability is

• A) easier with the advent of BI and Big Data.
• B) essentially the same now as it has always been.
• C) an increasingly challenging task for today's enterprises.
• D) now completely automated with no human intervention required.

---

Definitions:

Organizational Vision

A strategic declaration of what an organization aspires to achieve or become in the future, guiding its plans and decisions.

Buyer's Needs

The specific requirements or desires that consumers are looking to fulfill with the purchase of goods or services.

Break-even Point

The point at which total costs and total revenue are equal, resulting in no net loss or gain for a business.

Gross Profit

The financial difference between the revenue generated from sales and the cost of goods sold, before deducting overheads, salaries, and other expenses.