Cluster Analysis Is Frequently Used to Segment Customer Information for CRM

question 81

True/False

Cluster analysis is frequently used to segment customer information for CRM systems to help organizations identify customers with similar behavioural traits, such as clusters of best customers or one-time customers.

Examine the dynamics and effects of group behavior on decision-making, including groupthink and group polarization.

Explore the concept of deindividuation in crowd behavior and its effect on individual actions.

Acknowledge the strategies used in bargaining and their underlying psychological principles.

Analyze the importance of task complexity in performance in the presence of others.

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Definitions:

Night Terrors

A sleep disorder causing feelings of panic or dread typically occurring in the early night and often accompanied by screaming, flailing, and intense fear, without the individual fully waking.

Complex Concept

An idea, theory, or principle that is composed of various interconnected parts, making it difficult to comprehend entirely without thorough analysis.

Change Blindness

The phenomenon where a person does not notice new or changed visual stimuli in their environment when the change occurs during a visual interruption.

Dual Processing

The theory that the mind operates on two levels: a fast, automatic, unconscious level, and a slower, more deliberate, conscious level.