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Which of the following types of analyses is used in the reporting process?

a) cluster analysis
b) market based analysis
c) regression analysis
d) rfm analysis

User Heyfrank
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1 Answer

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Final answer:

In the reporting process, c) regression analysis and d) RFM analysis are commonly used to derive insights from data, with the choice of analysis depending on the data nature and reporting objectives.

Step-by-step explanation:

The reporting process in business analytics may utilize various types of analyses depending on the data and the objectives of the report. One such analysis is regression analysis, which is used to understand the relationship between variables and can help predict trends or expected results. This analysis is helpful in assessing the impact of one or more independent variables on a dependent variable. Cluster analysis might be used when it is necessary to understand how data points are grouped together, which is valuable for market segmentation or understanding customer behavior. RFM analysis (Recency, Frequency, Monetary analysis) is typically used in marketing for customer valuation purposes, analyzing the customer's purchase history and patterns to determine marketing strategies. Market-based analysis could refer to various approaches aimed at understanding market conditions and isn't necessarily a specific analytical technique.

Therefore, when considering the types of analyses used in the reporting process, regression analysis and RFM analysis are commonly applied alongside other methods to derive meaningful insights from complex data sets. The choice of analysis will largely depend on the nature of the data and specific reporting goals.

User Carol Skelly
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