American Express regularly stuffs its monthly statements with combinations of products depending upon customer characteristics.This data mining application is referred to as _______.
A)customer retention
B)customer abandonment
C)market basket analysis
D)customer acquisition
E)none of the above

Question

Quizplus · Accepted Answer

Market basket analysis is a type of data mining that involves looking for patterns in customer behavior and product sales. In the case of American Express, the company uses this technique to identify products and services that are likely to appeal to individual customers based on their spending patterns and other characteristics. This allows the company to target its marketing efforts more effectively and increase customer loyalty over time. Customer retention, customer abandonment, and customer acquisition are all related concepts that are important for managing customer relationships, but they are not specifically related to the type of data mining described in this scenario.

American Express Regularly Stuffs Its Monthly Statements with Combinations of Products