Which of the following transforms customer data into customer information that a firm can use to make managerial decisions such as,"Who are our best customers and what actions can we take to keep them?"
A) marketing research
B) data mining
C) cost-benefit analysis
D) scanner-based data

Question

Quizplus · Accepted Answer

Data mining is the process of analyzing large sets of data to discover patterns and correlations, and transforming them into usable information. In this case, customer data is being transformed into customer information that can be used to make managerial decisions about customer retention. Marketing research may provide the initial customer data, but it does not involve the same level of data analysis as data mining. Cost-benefit analysis is a decision-making tool used to evaluate the potential costs and benefits of different options, but it does not involve customer data analysis. Scanner-based data refers to the data collected from scanning barcodes at the point of sale, but it does not involve the same level of data analysis as data mining.

Which of the Following Transforms Customer Data into Customer Information