Data is the lifeblood of a rapidly growing digital existence, opening up new opportunities for businesses and gain a competitive edge. For example, an online retailer may need to identify the preferred product types and brands of customers by analyzing their search, browsing, and purchase patterns. This information helps the retailer to maintain a sufficient inventory of popular products, and also advertise relevant products to the existing and potential customers. It is essential for organizations to store, protect, process, and manage information in an efficient and cost-effective manner. Legal, regulatory, and contractual obligations regarding the availability, retention, and protection of data further add to the challenges of storing and managing information.
correct!
"Data is the lifeblood of a rapidly growing digital existence, opening up new
opportunities for businesses and gain a competitive edge. For example, an online
retailer may need to identify the preferred product types and brands of customers
by analyzing their search, browsing, and purchase patterns. This information helps
the retailer to maintain a sufficient inventory of popular products, and also advertise
relevant products to the existing and potential customers. It is essential for
organizations to store, protect, process, and manage information in an efficient and
cost-effective manner. Legal, regulatory, and contractual obligations regarding the
availability, retention, and protection of data further add to the challenges of storing
and managing information."
upvoted 2 times
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SupremeND
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