The Terms "Data","information","knowledge",and "Wisdom" Have Specific Meanings

question 61

Multiple Choice

The terms "data","information","knowledge",and "wisdom" have specific meanings.With regards to a customer satisfaction application used in the automobile industry,which of the following is an example of knowledge?

• A)The ability to create a program that provides rewards for dealerships with high levels of customer satisfaction and corrective action plans for dealerships that have low levels of satisfaction.
• B)The Web-based application that collects and stores records of customer satisfaction surveys and allows dealerships to view their data.
• C)Reports that summarize ratings for a specific dealership including a calculation of the average rating across all survey questions and a calculation of summary statistics for groups of questions that correspond to important dimensions such as dealership staff,satisfaction with product,quality of service and so on.
• D)Innovative policies developed by corporate strategists who analyzed the reasons for the sales drop in order to reverse the recent downward trend.

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Definitions:

Sales Employees

Individuals engaged in promoting and selling products or services for a company.

Straight Commission Plan

A compensation plan based on a percentage of sales.

Percentage of Sales

A financial ratio that compares a company's expenses or profits to its total sales, often used to analyze efficiency or profitability.

Perquisites

Special nonmonetary benefits given to executives; often referred to as perks