A Local Hair Salon Is Analyzing Its Customer Data to Determine

question 126

Multiple Choice

A local hair salon is analyzing its customer data to determine the last time each customer visited the salon,if he or she purchased a hair care product,and how much money the customer spends on the salon's services and products.In essence,it is trying to determine its customers' profit potential so it can target them for marketing efforts.What data analysis tool is the salon using?

• A)recency-frequency-monetary analysis
• B)demographic value analysis
• C)customer segmentation analysis
• D)predictive modeling
• E)lifetime value analysis

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Definitions:

Hospice Care

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Hormone Deficiency

A medical condition resulting from a lack of one or more hormones in the body, which can impact various bodily functions and development.

Rite

A ceremonial or solemn ritual, often associated with religious practices, symbolizing an important event or transition.

Nonentity

Something that does not exist or is considered unimportant or nonexistent in a particular context.