Data Mining Approaches and Statistical Techniques Used to Predict Future

question 45

Multiple Choice

Data mining approaches and statistical techniques used to predict future behavior, especially to unlock the value of business intelligence for strategy, are known as ________.

• A)optimization
• B)predictive analytics
• C)content management systems
• D)mashups

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Definitions:

Perfect Substitutes

Goods or services that can be used in exactly the same way and are interchangeable by consumers.

Coupons

Vouchers or codes offering a discount on the purchase price of goods or services.

Utility Function

A mathematical representation of how a set of choices maps to utility levels, indicating preferences over different bundles of goods or outcomes.

Grapefruits

A large, round citrus fruit with a sour to semi-sweet flavor, commonly known for its beneficial nutrients and use in diets.