Which of the Following Is a Data Mining Technique for Determining

question 3

Multiple Choice

Which of the following is a data mining technique for determining sales patterns?

• A)RFM analysis
• B)market basket analysis
• C)composite analysis
• D)Cooke analysis

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Definitions:

Market Segmentation

The practice of dividing a target market into distinct groups of consumers with similar needs or characteristics for more effective marketing.

Geographic Segmentation

The process of dividing a market into segments based on the geographic locations of consumers, such as countries, states, or cities.

Demographic Segmentation

The division of a market into segments based on variables such as age, gender, income, occupation, and education.

Market Segmentation

The process of dividing a market of potential customers into groups, or segments, based on different characteristics like demographics or buying behavior.