Customer Analytics

3. Which customer segmentation technique groups individuals with similar characteristics for targeted marketing or better service?
5. What term refers to customers who make frequent and high-value purchases, showing strong loyalty to a business?
9. Which type of analysis identifies product groupings based on patterns in customer purchases, often used in retail to optimize product placement?
10. Which analytical technique is used to evaluate customer behavior based on how often they buy, how much they spend, and when they made their last purchase?
11. What three factors are analyzed in RFM (Recency, Frequency, Monetary) Analysis?
12. What strategy is used to increase sales by bundling related products together, such as a “Back-to-school kit” promotion?
13. What is the technique that groups customers with similar purchasing behaviors into segments such as “Bargain Hunters” or “High-Spenders”?
14. What term refers to a business strategy that involves offering personalized deals to customers based on their past purchase behavior?

1. What data mining technique is used to discover relationships between variables in large datasets, such as frequently bought items in retail?
2. What is the analysis called that identifies patterns of customers who frequently purchase products together, such as noodles and bottled water?
4. Which type of customer would most likely receive a VIP treatment or exclusive offers based on their frequent and high-value purchases?
6. What method groups customers based on their behavior, such as frequent buyers, occasional shoppers, or high spenders?
7. Which type of analysis identifies valuable customers by evaluating their recent, frequent, and high monetary purchases?
8. What is the purpose of cluster analysis in customer segmentation?
13. What term describes the marketing strategy where businesses suggest related items to customers to encourage additional purchases?