Through Data Mining a Company Can Build a Profile of Its

question 117

True/False

Through data mining a company can build a profile of its best customers, which can then be used to identify prospective new customers or upgrade current customers to a higher level of purchasing.

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Definitions:

Generation X

denotes the demographic cohort following the baby boomers and preceding the Millennials, generally born from the early-to-mid 1960s to early 1980s.

Service Sector

The segment of the economy that provides services rather than producing goods, including industries such as retail, hospitality, finance, and education.

Different Societies

Various groups of individuals living together under a shared system of politics, economy, and culture, each with unique characteristics and social norms.

Stages of Aging

The distinct phases in an individual's life characterized by specific physical, psychological, and social changes related to aging.