A Personal Digital Assistant Programmed with Key Customers' Birthdates, Wine

question 6

Multiple Choice

A personal digital assistant programmed with key customers' birthdates, wine preferences, and food allergies is a(n) __________ tool.

• A) SKU
• B) PDQ
• C) IMF
• D) CRM
• E) GATT
• Keeping track of customers' preference enhances the relationship and increases brand loyalty, all part of customer relationship management (CRM).

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Definitions:

Double Exponential Smoothing

A forecasting technique that applies two levels of smoothing to capture trends in time series data more accurately than single exponential smoothing.

Slope Significance

The statistical importance of the slope coefficient in a linear regression model, indicating whether the independent variable has a meaningful impact on the dependent variable.

Exponential Smoothing Model

A forecasting technique that applies smoothing constants to weight past observations, giving more importance to recent data.

Regression Method

A statistical approach used to model and analyze the relationships between a dependent variable and one or more independent variables.