Describe the Importance of Data Mining to a Retail Company

question 82

Essay

Describe the importance of data mining to a retail company.

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Definitions:

Variable-Ratio

A reinforcement schedule where a response is reinforced after an unpredictable number of responses, promoting high and steady response rates.

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty, often used in psychology to describe the relationship between behavior and its consequences.

DRO

Differential Reinforcement of Other behavior, a technique used in behavioral therapy to encourage the occurrence of desired behaviors by only rewarding behaviors other than the undesirable one.

Variable-Ratio

A reinforcement pattern in which a reaction is rewarded following a random number of responses, resulting in consistent and elevated rates of response.