Data Mining Is Leveraged by Firms to Determine Which Products

question 74

Multiple Choice

Data mining is leveraged by firms to determine which products customers buy together, and how an organization can use this information to cross-sell more products or services. This area of application of data mining is referred to as:

• A) market basket analysis.
• B) collaborative filtering.
• C) customer churn.
• D) customer segmentation.
• E) vertical integration.

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Definitions:

Network Structures

Arrangements or patterns of nodes (which can be people, organizations, or devices) connected by lines or links, often used to describe social, business, or communication networks.

Divisional Structures

Refers to a form of corporate organization in which departments are divided by product, location, or service, each with its own management.

Informal Structures

Unofficial relationships and networks within an organization that influence decision-making, information flow, and culture, apart from the formal hierarchy.

Hybrid Structure

An organizational model that combines elements of more than one organizational structure, such as matrix and divisional structures, to benefit from their strengths.