It is important to understand and interpret consumer data because:

Group of answer choices

the more a business knows its consumers' $($or potential consumers'$)$ needs, the more clearly it knows how to acquire new customers but not retain them

the more a business knows its consumers' $($or potential consumers'$)$ needs, the more clearly it knows how to market and deliver products that customers value

the more a business knows its consumers' $($or potential consumers'$)$ needs, excess amounts of spending budgets could be approved.

the more a business knows its consumers' $($or potential consumers'$)$ needs, the less investment it needs for advertising.