Because of the Nontangible Nature of Service, Forecasting Does Not

question 27

True/False

Because of the nontangible nature of service, forecasting does not play as important role in service operations as in manufacturing operations.

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Definitions:

Time-intensive

Requiring a significant amount of time to complete.

Cost Effectively

Achieving an intended outcome or maintaining quality while minimizing expenses, often applied in the context of budgeting and financial planning in various fields.

Internet

A global network of computers and servers that supports vast amounts of information sharing and communication.

Big Data

Refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.