A Data Storage Company Realizes That Its Facilities Are Used

question 90

Essay

A data storage company realizes that its facilities are used most by financial institutions. It capitalizes on the opportunity and starts storing specific financial information only and is now one of the most sought-after financial databases. What strategy has the company employed?

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Definitions:

Target Forecasting

The process of estimating future sales, revenue, or other quantitative metrics based on historical data, market trends, and business analysis.

Replacement Selection

The process of identifying and selecting a candidate to replace an existing employee within an organization.

Mission Statement

A brief description of an organization's fundamental purpose and guiding principles, intended to inform its strategic vision and direction.

Organization's Vision

A strategic statement that outlines what an organization aspires to achieve in the future, guiding its direction and decision-making processes.