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Describe how to identify the best customers. Customer relationship management, as a process strategy, attempts to manage the interactions between a company and its customers.
To be successful, organizations must identify customers who yield high profitability or high potential profitability. To accomplish this task, significant amounts of information must be gathered from customers, stored and integrated in the data warehouse, and then analyzed for commonalities that can produce segments that are highly similar, yet different from other customer segments.
A useful approach to identifying the best customers is recency-frequency-monetary (RFM) analysis. Data mining uses RFM, predictive modeling, and other approaches to identify significant relationships among several customer dimensions within vast data warehouses. These significant relationships enable marketers to better define the most profitable customers and prospects.
1. Explain the concept of data mining. Provide five examples of companies that are currently using data mining and explain why each is using it.
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Howard is in the 33% tax bracket, he will then have to pay the Internal Revenue Service 33% of his profit. Calculate the probability which Howard will have to pay the IRS at least $400.
Revise and analyze the strengths and weaknesses of each sentence and revise the document so that it follows this chapter's guidelines.
The FAR Part 15 provides the policies and procedures for the negotiation of a government contract. These guidelines protect both the government and the organization that submits a proposal for consideration, whether a competitive or other-than-com..
Explain why adding only a few characters to a text file may increase the file's size by several hundred bytes and at other times may not increase the file's size at all.?
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Discuss the following: Identify the small business and the type of product that will be introduced internationally. Choose a country you will first introduce the product
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1. Do you think it is important to decrease the extreme amount of money wasted on holiday decorations? Is an example of a __ question?
Marketing Strategy and Implementation
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