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Question $13$

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Scenario $3$

In today's digital age, global information systems $($GIS$)$ and market research are pivotal in driving business decisions and strategies. GIS encompass the collection, storage, and analysis of data from around the world, enabling companies to operate efficiently and competitively in the global market. Market research, on the other hand, involves systematically gathering and analyzing information about target markets and consumers.

What is a primary function of global information systems $($GIS$)$ in business?

Question $13$Answer

a$.$

Reducing IT costs

b$.$

Enabling real$-$time data access

c$.$

Increasing market expansion

d$.$

Increasing customer satisfaction

e$.$

Increasing production revenue

Question $14$

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Reference Scenario $3$

Which technology is often used to analyze large sets of data in market research?

Question $14$Answer

a$.$

Big data analytics

b$.$

Cloud gaming

c$.$

Augmented reality

d$.$

Virtual reality

e$.$

AI

Question $15$

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Reference Scenario $3$

What is a key benefit of conducting market research for businesses?

Question $15$Answer

a$.$

Decreasing product quality fluctuations

b$.$

Limiting consumer feedback

c$.$

Increasing employee recruitment

d$.$

Understanding market needs

e$.$

Reducing marketing efforts

Question $16$

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Reference Scenario $3$

How do artificial intelligence and machine learning contribute to market research?

Question $16$Answer

a$.$

By increasing data accuracy

b$.$

By reducing the importance of market needs

c$.$

By replacing human resources

d$.$

By decreasing the time required for research

e$.$

By providing deeper insights through data analysis

Question $17$

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Reference Scenario $3$

What role does GIS play in tracking competitor activities?

Question $17$Answer

a$.$

Reducing competitive strategies

b$.$

Preventing market entry

c$.$

Eliminating competition

d$.$

Increasing competition

e$.$

Facilitating real$-$time monitoring

Question $18$

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Reference Scenario $3$

Why is it essential for businesses to leverage GIS and market research?

Question $18$Answer

a$.$

To navigate the complexities of the global business landscape

b$.$

To match market trends

c$.$

To decrease technological reliance

d$.$

To increase internal communication

e$.$

To understand global economic theories