Through the Data Mining Application of ________, Marketers Target Promotional

question 151

Multiple Choice

Through the data mining application of ________, marketers target promotional strategies for products based on the records of which customers have recently purchased certain other products.

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

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Definitions:

Times A Day

A frequency measure indicating the number of times an event occurs within a single day.

Inferential Statistics

A branch of statistics that uses a random sample of data taken from a population to describe and make inferences about that population.

Descriptive Statistics

Statistical methods that summarize and describe the features of a data set, including measures of central tendency and variability.

Hypotheses

Proposed explanations made on the basis of limited evidence as a starting point for further investigation, often tested statistically.