9 - Assessing Greater Use Of Technology

Question 1

What Is Digital Technology?

Answer 1

Using the internet to a greater extent for storing, processing, automating and generating data.

Question 2

Describe E-Commerce
(5 Points)

Answer 2

~ Buying and selling of goods and services online.

Its Good For:
~ Increasing sales, as there is a wider target market.

~ 24/7 and cost efficient.

Problems:
~ More rivals, due to lower barriers to entry.

~ May only suit certain products.

Question 3

Describe Big Data
(5 Points)

Answer 3

~ Large data sets, that are stored to analyse existing patterns and trends.

Its Good As:
~ Easily stored and reliable data.

~ Detailed insights into all types of trends.

~ Useful for personalised marketing.

~ Useful for tracking consumer behaviours to improve decision making.

Question 4

Describe Data Mining
(4 Points)

Answer 4

~ Analysing large databases, to generate new information.

Its Good As:
~ Target advertising and sales forecasting.

~ Product development.

~ Informs resource planning.

Question 5

What Is The Value Digital Technology
(4 Points)

Answer 5

~ Ease of entering new markets.

~ More informed product development.

~ Greater integration of functional areas.

~ Availability of information to stakeholders.