Identify Ethical Issues That Are Present with Data Gathering

question 28

Essay

Identify ethical issues that are present with data gathering.

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Definitions:

Margin Lost

The reduction in the potential profit margin due to factors such as discounts, errors, or inefficiencies.

Understocking

A situation where inventory levels are too low, potentially leading to lost sales and customer dissatisfaction.

Responsive Strategies

Responsive strategies are tactics adopted by businesses to quickly react to changes in market conditions or consumer preferences to stay competitive.

Demand Uncertainty

The unpredictability or variability in consumer demand for products or services.