Which of the following statements is true of big data analytics?

Question

a. It analyzes customers' needs based on their proximity to a retail store.

b. It focuses on understanding the behavior of a brand's target customers.

c. It enables retailers and suppliers alike to gain better customer insights

d. It allows customers to evaluate the service quality offered by retailers.

Answer 1

The correct option is c (enables retailers and suppliers alike to gain better customer insights). Big data analysts use the Recency Frequency Monetary analysis to find out the important customers. This analysis is made on their buying patterns how much they are spending and how frequently they are visiting the store.

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