1 The web has significantly cut the cost of collecting data

1. The web has significantly cut the cost of collecting data about shoppers and buyers. Explain how.

2. Why is it so important to have a quick response of online investment ISs? Give two examples of how such systems are critical.\"

Solution

1.

The web aggregates the information across all suppliers which reduced the cost of gathering the information. Imagine if today we want to buy a laptop then instead of going to 10 different sellers, I can check the price of laptop on the website like Amazon. I can also prepare the list of sellers who are offering me a laptop suited to my needs. Likewise, sellers can also assess the behavior of buyer by means of these sites. The modern day data analytics tools help the sellers achieve that goal.

PS: According to Chegg guidelines, in the event of multiple questions, only first one is attempted.