DATABASE FUNDAMENTALS
DATA WAREHOUSING AND DATA MINING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Orangisations focus on ways to use operational data to support ____ as a means of gaining competitive advantage
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Data warehousing
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Decision-Making
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Competitive-Analyse
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Relationl databases
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Explanation:
Detailed explanation-1: -A business is profitable if the value it creates exceeds the cost of performing the value activities. To gain competitive advantage over its rivals, a company must either perform these activities at a lower cost or perform them in a way that leads to differentiation and a premium price (more value).
Detailed explanation-2: -Companies can build winner-take-all positions by collecting and analyzing customer data. The more customers a firm has, the more data it can gather and mine; the resulting insights allow it to offer a better product that attracts even more customers, from which it can collect still more data.
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