Sophisticated statistical models used in forecasting that are based on how customers have responded in the past to marketing strategies are known as correlational analysis.

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Sophisticated statistical models used in forecasting based on past customer responses to marketing strategies are typically referred to as predictive analytics or predictive modeling, not correlational analysis. Correlational analysis is used to determine the relationship or correlation between two variables, without necessarily implying causation.

Sophisticated Statistical Models Used in Forecasting That Are Based on How