Some Companies Have Large Databases They Have Examined to Determine

question 90

Essay

Some companies have large databases they have examined to determine who their best customers are.Banks,in particular,have analyzed customer data and have learned that the top 5 percent of their customers are very profitable for the bank and the bottom 5 percent are very unprofitable.Name and describe the concept that many marketers are using to assess the value of customer loyalty.

---

Definitions:

Line Graph

A type of graph that uses lines to connect individual data points, displaying trends over a period of time or category.

Bar Chart

A graphical representation of data using bars of different heights or lengths to compare values across different categories.

Histogram

A graphical representation of the distribution of numerical data, showing the frequency of data intervals.

Behavioral Sciences

A field of study that explores the activities and interactions among human beings and their environments.