Through the use of
Blank
______, a hardware retailer might learn that 30% of the time when its customers buy a table saw, they also purchase nails.

Question

Through the use of 
Blank
______, a hardware retailer might learn that 30% of the time when its customers buy a table saw, they also purchase nails.

BlackTom AI · Accepted Answer

Let's break down the question and each option by considering what concept fits the blank in the context of analyzing customer purchase patterns.
Option 1: 'social media' — While social media data can reveal customer interests, it does not directly explain the observed transactional association between buying a table saw and nails at the point of sale. This option misses the specific activity of uncovering patterns within transaction data.
Option 2: 'data mining' — This term refers to the process of analyzing large sets of data to discover hidden patterns, correlations, and insights, such as the 30% co-purchase rate of nails when a table saw is bought. This fits the idea of deriving actionable knowledge from sales data.
Option 3: 'shipping invoices' — Shipping invoices are a type of data source, but simply listing them does not explain the analytical method used to uncover the 30% co-purchase relationship. It’s more about where the data comes from than how the relationship is discovered.
Option 4: 'inventory' — Inventory information tracks stock levels and may influence replenishment decisions, but it does not inherently provide insights about customer purchasing correlations across products in transactions.
In summary, the stem points toward a method for extracting patterns from data to reveal a cross-sell or co-purchase relationship. Among the options, only 'data mining' directly corresponds to performing such analysis to identify the 30% co-purchase pattern, whereas the other choices describe sources or contexts rather than the analytical technique.

Through the use of Blank ______, a hardware retailer might learn that 30% of the time when its customers buy a table saw, they also purchase nails.

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