Explain why users should participate in data modeling?
What will be an ideal response?
Answer: Data modeling is not an easy task. The same term meant different things to different people. For example, a company accounting department may use the term orders to refer to the total dollar amount of orders per time period, whereas the sales department may use the term to refer to individual customer orders. To solve these problems, different user groups should actively participate in the data modeling process. The first step was to convince all users of the need for and benefits of creating a data model for their function. Then it was necessary to carefully define the scope of the modeling effort. The key step is in getting the different user groups to actively participate in the data modeling process. Otherwise, the resulting data model would not have been as accurate or widely accepted.
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A) marketing mix B) market segment C) market position D) marketing concept E) value chain
Financial ratios that are higher than industry averages may indicate problems that are as detrimental to the firm as ratios that are too low.
Indicate whether the statement is true or false