Consider the following questions: Which customers are most likely to renew their subscription to our service at the regular price? What special offers might persuade different customers to renew? What behaviors signal that a customer is about to cancel? Which data mining approach do these questions refer to?

Question

Business

Lizbeth Guerra

8 October, 12:40

Consider the following questions: Which customers are most likely to renew their subscription to our service at the regular price? What special offers might persuade different customers to renew? What behaviors signal that a customer is about to cancel? Which data mining approach do these questions refer to?

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Answers (1)

Know the Answer?

Ezequiel Abbott · Answer 1

The correct answer is predictive analysis.

Explanation:

Predictive analysis uses historical data to predict future events. Normally, historical data is used to create a mathematical model that captures important trends. This predictive model is then used with the current data to predict what will happen next, or to suggest actions to take in order to obtain optimal results.

Predictive analysis has received a lot of attention in recent years due to advances in the technology that supports it, especially in the areas of big data and machine learning.