Companies Are Most Likely to Use Data Mining Results Identifying

question 150

Multiple Choice

Companies are most likely to use data mining results identifying unprofitable customers for ________.

• A) customer retention
• B) customer loyalty
• C) customer acquisition
• D) customer abandonment
• E) market basket analysis

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Definitions:

Forecasting

The process of making predictions about future events or trends based on current and historical data analysis.

Planning And Controlling

Involves setting objectives, establishing strategies to achieve those objectives, and then guiding the organization in the execution of these plans while monitoring progress and making adjustments as needed.

Anticipating Problems

The ability to foresee and prepare for potential issues before they occur.

Setting Objectives

The act of establishing specific, measurable, achievable, relevant, and time-bound goals for an individual or organization to accomplish.