Understanding Data and Information in Decision Making
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Questions and Answers

What is the difference between data and information in the context of managing customer databases?

  • Data is qualitative, while information is quantitative.
  • Data is always accurate, while information can be inaccurate.
  • Data refers to raw facts, while information is processed data that provides context and meaning. (correct)
  • Data and information are used interchangeably in managing customer databases.

Which responsibility is essential in managing customer databases according to the text?

  • Capturing answers to survey questions about the company.
  • Ensuring correct spelling of customer's name and address. (correct)
  • Storing customer's educational level.
  • Recording the customer's age and income level.

What tool is commonly used for capturing customer information as mentioned in the text?

  • An online quiz about the products and services.
  • A loyalty card system that tracks purchases. (correct)
  • A telephone call to ask for the customer's address.
  • A photo ID verification process.

What is a challenge mentioned in obtaining customer information?

<p>Discovering if the customer has had complaints. (C)</p> Signup and view all the answers

How should customer information be managed in a database based on the text?

<p>Keep track of what the customer purchased last. (A)</p> Signup and view all the answers

What is one key difference between government reports and private reports as sources of customer information?

<p>Government reports provide specific customer data, while private reports offer generic information. (C)</p> Signup and view all the answers

Why are employee interactions with customers considered as a valuable source of customer information for a business?

<p>Employees can provide insight into customers' needs and preferences. (A)</p> Signup and view all the answers

What is a major benefit of using Point of Sale (POS) systems for capturing customer information?

<p>POS systems generate transaction-specific data for analysis. (D)</p> Signup and view all the answers

Why might it be challenging to rely solely on government reports for customer information?

<p>Government reports provide generic data that may not be specific to your customers. (A)</p> Signup and view all the answers

How can surveys be beneficial in obtaining customer information for a business?

<p>Surveys gather direct feedback from customers about their preferences and opinions. (A)</p> Signup and view all the answers

What role do trade associations play in providing customer information to businesses?

<p>Trade associations detail industry changes and key players for businesses. (B)</p> Signup and view all the answers

What is the main difference between data and information in the context of customer relationship management?

<p>Data is easy to obtain, while information is difficult to acquire. (A)</p> Signup and view all the answers

Which of the following is NOT a key decision in managing a customer information database?

<p>Selecting the software or platform to store the database. (A)</p> Signup and view all the answers

What is a key connection for managing customer information?

<p>Front-line employees. (D)</p> Signup and view all the answers

Which of the following is NOT mentioned as a challenge in obtaining customer information?

<p>It requires advanced analytical techniques. (D)</p> Signup and view all the answers

What is a potential danger of relying solely on customer data?

<p>It can lead to a false sense of satisfaction and incomplete decision-making. (A)</p> Signup and view all the answers

What should be considered when managing customer information in a database?

<p>All of the above. (D)</p> Signup and view all the answers

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