consumers often buy soft drinks and potato chips together when they shop at a grocery,convenience,or mass merchandiser store.However,one convenience store discovered,when querying its marketing information system (MIS)that when consumers came inside and bought a sandwich,many also purchased toothpaste.This information was obtained from checkout scanner data from its stores nationwide.This convenience store used __________ to extract this "hidden" information from its MIS to find the statistical link between the two product categories.

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Quizplus · Accepted Answer

The convenience store used data mining to extract the "hidden" information from its MIS to find the statistical link between the two product categories. Data mining involves the use of statistical techniques to analyze large sets of data and uncover patterns and relationships that may not be readily apparent. In this case, the convenience store was able to identify a correlation between sandwich purchases and toothpaste purchases, which could potentially inform their marketing and placement strategies. Linear trend extrapolation, heuristic modeling, descriptive research, and RFID data do not necessarily involve the analysis of large datasets to uncover hidden patterns and relationships.

Consumers Often Buy Soft Drinks and Potato Chips Together When