Entrepreneurship as Innovation and Problem Solving — Entrepreneurship STD 11 Commerce — Question

Information Collection as new business forms: In this competitive world, in order to attract a customer, the entrepreneurs have to know the customer in detail so that they can assure that they are loyal to the company. Information which is collected, for example- age, regularity of customer to the shop, preference of purchase - all these factors enable a company to understand the taste and preference of the customer so that they can serve them better. Businesses will compete on analytics to differentiate themselves. The growing number of embedded sensors collecting information about the world, and the rise of social networks that store the data people share, will generate immense quantities of information.