Question

A retail store owner offers a discount on product A and predicts that the customers would purchase products B and C in addition to product A. Identify the technique used to make such a prediction. a. Data mining b. Data dashboards c. Data query d. Simulation

Answer 1

Data Mining is the technique of extracting useful data fro a set of given data

Explanation:

The technique which is used to make prediction is (a)Data Mining .

• Some of the  techniques used in Data mining are classification,cluster Analysis,pattern tracking ,decision tree analysis,Anomaly analysis,Prediction technique.

In the above question the data mining technique used is the Prediction Method.This method is used to understand the response and a predictor variable.

For example, in the above question the demographic information of the consumers such as income, product preference,buying pattern, etc is studied in order to offer discount on product A.