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Big data refers to which of the following?
AA file of the customer names and addresses of a firm
BA survey run on a very large sample of consumers
CA record of every price change made in a market
DLarge data sets and systems built to manage them
Answer & Solution
Correct answer: D. Large data sets and systems built to manage them
1. Big data means large data sets together with the systems and solutions built to manage them.
2. Companies process that data and then tailor information to give marketers higher-probability targets.
3. A search made by one group of friends can be sold on to firms selling related services.
4. A customer address file and a large survey are both far narrower than big data.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.10 Trends in Developing Products and Pricing_
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