Which Of The Following Statements Is Accurate Of Big Data?
Which of the following statements is actually true of big data? It will analyze customers’ wants according to their proximity to your physical store. It will focus on knowing the general behavior of target consumers of a particular brand. Finally, it will help you predict what kind of customer behavior is to take place in the future.
It is correct that the future will be different from today. The first and most important implication is that the question “which of the following statements is accurate of big data” cannot be answered without an introduction of big data itself. This is because the process of economic calculation currently used cannot answer these questions. Instead, we must use statistical techniques or theories to arrive at such conclusions. Fortunately, this is not as complicated as it sounds.
As an example, the analysis of customer behavior can be done through cross-sell techniques. According to them, each customer buys something from a certain brand once. Therefore, a certain number of purchases from a certain customer is necessary for a brand to grow fast. Similarly, there are also mathematical formulas that provide accurate results when companies want to know which of their competitors are getting ahead. These formulas work for both large and small companies.
It is incorrect to assume that customer behavior is only influenced by big companies. Smaller brands also influence customer behavior. The main reason is that customer behavior is not always influenced by the financial situation of a company. Instead, certain brand names appeal to certain types of customers more than others.
Although it might seem hard to believe, the answer to the question “which of the following statements is accurate of big data?” can be provided if companies store all data in the same way. Big data is actually a generalization of all the different kinds of data. So, even if one kind of data is used, say customer satisfaction or customer feedback, all the other kinds will also be influenced.
In short, customer data is not independent and only available for a limited period of time. The generalization might lead you to believe that the trends seen by an analyst are accurate for any given time frame. However, that is not the case. For example, customer satisfaction trends will be affected by economic conditions, as well as by different tastes among customers. As a general rule, you would need to conduct cross-surveys to find out which of the following statements is true of big data: all data is available for at least one year; data from different sources can be compared; trends are consistent over a longer period of time; trends might continue even after a company’s brand becomes famous. The last statement is particularly interesting, because customers’ preferences might change over time; if this happens, your data might no longer accurately reflect actual customer behavior.
There are a lot more questions that you will have to ask, but two or three should suffice. Once you know which of the following statements is accurate of big data, you will be able to understand how useful quantitative tools can be for your company. It will help you organize all customer information into a coherent map, which can then be analyzed in order to give you insights about what kinds of marketing campaigns are currently working and which do not.
In conclusion, I have shown you the right way to ask the question “which of the following statements is accurate of big data?” Now that you know which statements are true of big data, you will be able to analyze all available data in order to find the best ways to improve customer service for your business. Your company’s future depends on it. I wish you luck.