What Is Data Mining

question 175

Multiple Choice

What is data mining?

• A)The common term for the representation of multidimensional information
• B)A particular attribute of information
• C)Uses a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making
• D)Process of analyzing data to extract information not offered by the raw data alone

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Definitions:

Buying Processes

The series of steps consumers follow from recognizing a need, evaluating options, making a purchase decision, to post-purchase evaluation.

New Buy

A buying situation in which a customer purchases a product or service for the first time, necessitating a decision-making process.

Buying Process

The series of steps a consumer goes through when deciding to purchase a product or service, from problem recognition to post-purchase behavior.

Buying Situations

Various contexts or scenarios in which consumers find themselves that influence their purchasing decisions.