What Is the Application of Big Data Analytics to Smaller

question 28

Multiple Choice

What is the application of big data analytics to smaller data sets in near-real or real-time in order to solve a problem or create business value?

• A) Fast data
• B) Outlier
• C) Analysis paralysis
• D) Cube

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Definitions:

Surge Prices

A dynamic pricing strategy that increases prices in response to high demand and limited supply, commonly used in ride-sharing services.

Determinants of Market Demand

Factors that influence the total demand for a product or service in a market, including price, income levels, tastes, and population demographics.

Law of Demand

A principle that states there is an inverse relationship between the price of a good or service and the quantity of it that consumers are willing to purchase.

Determinants of Market Demand

Factors that influence the total quantity of a good or service that consumers in a market are willing and able to purchase at various prices.