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Question Response: Briefly Explain 1 What is Data Mining? How does software help us? 2 The Data Analysis Process consists of 4 steps - explain

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 Response: Briefly Explain

1

What is Data Mining?

  • How does software help us?

2

The Data "Analysis" Process consists of 4 steps - explain each

  1. Problem formulation
  2. Preparation
  3. Analysis (what is 'cluster anslsysis'?)
  4. Visualization

3

REMINDER: What is a Personas

  • And WHY do we use them?

4

REMINDER: What does market segmentation do?

  • And WHY do we do it?

5

Consumer markets can be segmented 4 main ways - what are they?

  • Explain each (or provide an example)

6

Why would one use the RFM segment valuation technique?

  • Explain the 3 variables

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