What Is the Purpose of the Data Warehouse and How

question 25

Essay

What is the purpose of the data warehouse and how do retailers use it?

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Definitions:

Qualitative Forecasting

A method of prediction that uses non-numerical data, such as expert opinions or market trends, to make forecasts about future events or behavior.

Expert Planning

Strategic planning carried out by individuals with specialized knowledge and skills in a particular area.

Contingency Planning

Identifies alternative courses of action for use if and when circumstances change with time.

Tactical Plan

A short-term, detailed plan outlining how to achieve specific goals within a strategic framework, often focusing on immediate actions and resources.