Big data

To the extent it is relevant for Paper MA, it is covered in Chapter 2 of our free lecture notes.

But the example given in our notes explains the benefit. The fact that companies can collect so much data about their customers and can analyse it means that they can target customers well - they know what individual customers like, they know what sort of things they have previously bought, they know how profitable each customer is to them. As a result they can sell more. Presumably the question in your exam had statements to choose from, because you obviously cannot be asked to write about benefits in the exam.