Which kind of data are the most cost-effective to collect?

Question

Quizplus · Accepted Answer

Small data (S) are the most cost-effective to collect because they require less time to collect, process, and store. Small data also require lower investments in terms of hardware and software, making them a more accessible choice for many organizations. Additionally, small data can provide valuable insights into specific aspects of a business or industry, allowing companies to make informed decisions quickly and effectively.

Which Kind of Data Are the Most Cost-Effective to Collect