Data Mining Is Important Because Any Customer Can Become a Brand

question 6

True/False

Data mining is important because any customer can become a brand advocate or adversary by freely expressing opinions and attitudes that reach millions of other customers on social media.

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Definitions:

Peak Demand Season

The period during which a business experiences the highest level of consumer demand for its products or services, often leading to inventory and supply chain challenges.

Predictable Variability

Variations in demand or supply that can be forecasted with a degree of accuracy based on historical data or patterns.

Common Components

These are parts or materials used in the manufacturing of multiple different products, helping to reduce inventory costs and simplify production processes.

Dual Facilities

refers to a strategy where a company operates two or more facilities, typically manufacturing plants or distribution centers, in different locations to better serve various markets or to enhance production capabilities.