Data Mining Refers to

question 127

Multiple Choice

Data mining refers to

• A) any form of electronically generated market research.
• B) the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions.
• C) a branch of marketing specializing in obtaining both objective and subjective data to be used by other companies or organizations.
• D) obtaining information about a competitor and its products for use by one's own firm.
• E) the use of information derived solely from unsolicited sources such as customer complaints or complements.

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Definitions:

Nominal Data

Data categorized without a natural order or rank, such as names, labels, or categories.

Ordinal Data

Data that can be categorized into a defined order or ranking, but the intervals between the categories are not necessarily consistent.

Nonparametric Techniques

Statistical methods that do not assume a specific distribution of the data, often used when data does not meet the assumptions of parametric tests.

Population Parameters

Characteristics or measures that describe aspects of a population, such as its mean, variance, or standard deviation.