Cluster analysis seeks to identify and group individual consumers on the basis of shared behavior variables.

Name: Cluster analysis seeks to identify and group individual consumers on the basis of shared behavior variables.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cluster analysis is a statistical technique used to group individuals or objects that are similar to each other based on selected characteristics or behaviors, making it a useful tool for identifying consumer segments with shared behaviors.

Cluster Analysis Seeks to Identify and Group Individual Consumers on the Basis