Question

fannie may candies is able to track customer buying patterns and determine which types of candy customers might buy in the future. which type of data analysis tool is fannie may most likely using? multiple choice question. customer segmentation analysis order fill rate analysis lifetime value analysis predictive modeling recency-frequency-monetary analysis

Answer 1

Fannie May Candies is using predictive modeling to analyze customer buying patterns and predict future candy purchases.

Step-by-step explanation:

Fannie May Candies is likely using predictive modeling as a data analysis tool to track customer buying patterns and predict future purchases. Predictive modeling utilizes statistical techniques and algorithms to analyze historical data and project potential future outcomes.

This method helps businesses optimize marketing campaigns, increase customer retention, and anticipate customer needs by identifying patterns and trends within their purchas behavior. Tools like customer segmentation analysis and recency-frequency-monetary analysis can be part of predictive modeling, but predictive modeling itself is more encompassing as it can integrate various types of analyses to forecast future behavior.