Which of the following BEST describes analytics?
A) It uses complex mathematical models to help retailers make better product mix decisions.
B) It is a relatively new method of inventory control.
C) It determines the level of quality and service desired by customers.
D) It is a computerized technique for making site location decisions.

Question

Quizplus · Accepted Answer

Analytics involves using data analysis and mathematical models to gain insights and improve decision making. Retailers can use analytics to analyze customer behavior, optimize pricing, and make better product mix decisions.

B, C, and D all describe different aspects of business management but do not specifically relate to analytics as a methodology.

Which of the Following BEST Describes Analytics