Mining refers to the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions. This is done to gain insights into consumer behavior, preferences, and trends, and to better understand the market and create effective marketing strategies.

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Mining Refers to

Question 244

Multiple Choice

mining refers to

A) any form of electronically-generated market research.
B) the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions.
C) a branch of marketing specializing in obtaining both objective and subjective data to be used by other companies or organizations.
D) obtaining information about a competitor and its products for use by one's own firm.
E) the use of information derived solely from unsolicited sources such as customer complaints or complements.

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