The ability for a business to get to know its customers is being enabled by the data available through online interactions.
However, the report 'State of Fashion 2022' states: '[data] is becoming both a strategic asset and a source of financial, reputational and operational risk' (Business of Fashion / McKinsey & Company 2021, p 100). Explain what you think this means.
Refer to the attached article.
Business of Fashion / McKinsey & Company 2021, The State of Fashion 2022, viewed 14/11/2022,
https://acrobat.adobe.com/link/review?uri=urn%3Aaaid%3Ascds%3AUS%3A0569eefd-9fd4-3f4b-a1b2-dade36b861db
Words 300.
Write answers below.
The ability for a business to get to know its customers is being enabled by the data available through online interactions. Why data is becoming a strategic asset? (75 words)
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Why data is a source of financial Risk? (75 words)
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Why data is a source of reputational risk? (75 words)
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Why data is a source of operational risk? (75 words)
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