Question

Explain the advantage of using social networks to connect to those with more resources.

Define business intelligence (BI) and BI systems.

Define the three levels of decision making with examples.

Answer 1

Advantages of using social networks to connect with those with more resources are -

1. Peer-to-peer learning - In the present digital world, social networking helps in encouraging peer-to-peer learning. Peer-to-peer learning is a kind of study groups online where people from all over the world come on a platform, exchange their views and learn from each other. Example - GLO community
2. Information sharing - Social networks help in sharing information. By learning through sharing information, we will be able to make new friends online who will help with the information they know. Example - Quora.
3. Sharing resources - Social networks help in sharing resources as well. Like for example, a person who is in a baking business, can meet people on Facebook or Instagram with similar likes, and they can share ideas and resources that are pertained to their business.
4. Scope for new ideas - Social networks will not only help in learning, but it will act as an incubator where new ideas take birth.