Question

A manager is considering purchasing data from an outside vendor to get a better understanding of the target market for his firms services. What factors should the manager consider when evaluating the data’s usefulness for his needs?

Answer 1

Answer: Relevance, Quality, timelessness and Completeness.

Step-by-step explanation:

Relevance: This helps show the importance of the data gotten. And how this relevant data if applied can change or alter the solutions or problems of the target market.

Quality: This helps determine that the data gotten actually reflects the reality or happenings in the target market.

Completeness: this means the data gotten by the manager has the right informations needed or which are relevant to the target market.

Timelessness: this helps determine that the data gotten are not out of date or obsolete but rather useful to manager in studying the target market