Question

An online retailer uses complex data-mining software to evaluate the preferences and buying habits of its customers and makes decisions based on these findings. This is an example of the use of ______ in the decision-making process.
analytics T/F

Answer 1

Answer:

TRUE - Analytics

Explanation:

Analytics is the systematic process of finding, interpreting and communicating meaningful patterns found in data. Ot involves the examination of data using mathematical methods.

The online retailer used analytics in order to understand the consumers behaviors and then to be able to make decisions from result gotten rather than the use of "gut" feeling or intuition which isn't backed by data or facts.

The use of analytics in business making decisions generally improves profits margins, efficiency and risk management.