What Is Data-Driven Decision Management

question 30

Multiple Choice

What is data-driven decision management?

• A) A business that collects personal information about consumers and sells that information to other organizations
• B) A storage repository that holds a vast amount of raw data in its original format until the business needs it
• C) A technique for establishing a match, or balance, between the source data and the target data warehouse
• D) An approach to business governance that values decisions that can be backed up with verifiable data

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Definitions:

Price Range

The difference between the lowest and highest prices within a given market.

Price Inelastic

Refers to a condition where the demand for a good does not significantly change with a change in its price.

Bumper Crop

An exceptionally large harvest of crops in a given season, often beyond what was expected, typically resulting in decreased prices due to increased supply.

Farm Revenues

The total income received by a farm from the sale of its products and services.