Question: give some details between in two scenarios that which data can be heavily relied on for making decision , and which data is considerbale less
give some details between in two scenarios that which data can be heavily relied on for making decision , and which data is considerbale less helpful.
Scenario 1: The marketing manager of the company witnessed that their print media and Billboard marketing strategy have not worked. The market penetration rate of the company was declined by 20% because of efficiency in maintaining rational approaches in marketing strategies. The marketing manager started an internal survey in the marketing management fraternity to find out the best platforms to perform marketing strategies. 70% of the respondents have emphasized the importance of using social media for marketing activities. Moreover, the manager collected data from different external sources and have found that 85% of the companies that have used social media marketing have enhanced their market share last three financial years at an average rate of 12.5%, 18%, and 22% respectively. Finally, the marketing manager has decided to arrange marketing strategies for different social media platforms. Scenario 2: the supply chain manager of the company is found that the employees were involved in supply chain activities are dealing in conveying important information because of their efficiency in handling the digital supply chain management. It suddenly became critical for the supply chain manager. Hence, he decided to arrange a training session to train supply chain employees about the various use of information technology to know supply chain information quickly. The decision did not require any additional data because it was most obvious to train employees door handle information technology in supply chain management for sharing important information
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