A company collects customer feedback from various platforms and analyzes the data to improve its products. What is the company practicing when it uses this data to make improvements and potentially increase sales?
The company is engaging in data monetization, which involves utilizing collected data to generate value for the business, such as enhancing products and increasing revenue through better customer satisfaction. Other options may seem relevant but do not capture the essence of monetizing data effectively.
Ask Bash
Bash is our AI bot, trained to help you pass your exam. AI Generated Content may display inaccurate information, always double-check anything important.
What exactly is data monetization?
Open an interactive chat with Bash
How can data analysis improve products?
Open an interactive chat with Bash
What other strategies can companies use to monetize data besides improving products?