The Science of Using Customer Data to Predict Future Consumption

question 31

Multiple Choice

The science of using customer data to predict future consumption behavior is known as

• A)poka yoke.
• B)kaizen.
• C)predictive analytics.
• D)six-sigma.

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Definitions:

Customers

Individuals or entities that purchase goods or services produced by a business.

Lot Size

The number of units of product, shares, or other securities traded or manufactured in a single transaction or production run.

Inventory Level

The quantity of goods or materials on hand at a particular time within a business.

Mean Inventory Level

The average quantity of inventory held over a specific period of time, used to measure the efficiency of inventory management.