Question

RBC Royal Bank wanted to evaluate the financial value of its substantial personal customer base to determine which type of customers were the most valuable to the bank. To do this, the bank looked at revenues and expenses from each of its financial products, including loans and credit card usage. To identify and then analyze this information, the bank utilized the MIS analysis technique called ________.

Select one:

a. Data warehousing

b. Marketing research

c. Probability sampling

d. Data mining

e. Market basket analyzing

Through ________, a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business.

Select one or more:

a. Cost per impression pricing

b. Conversion rates

c. Search engine optimization

d. Search engine analytics

e. Predictive analytics

Answer 1

Answer to first part is (d) Data Mining.

Data mining the is examining large pre-existing databases in order to generate new information. Data warehousing is collecting information. Market research, by definition, is process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service. Market basket analysis is usually a data mining technique followed by retailers, where they asses that if you buy a certain group of items, you are more (or less) likely to buy another group of items.

Answer to second part is (c) Search Engine Optimization (SEO)

By technical definition on Google, SEO is the process of maximizing the number of visitors to a particular website by ensuring that the site appears high on the list of results returned by a search engine. This is basically a part of digital marketing employed by companies to garner greater attention.

Other terms, cost per impression is basically payments made to the the search engines/websites when an advertiser's link or banner is clicked. Conversion rates is the number of customers who have completed a transaction divided by the total number of website visitors, wahich means the actual customers gained. Search engine analytics involves gathering information about some words and their search patterns (exactly what Google Adwords does) - how much or who or which area searches for a particular information at what time of the day, etc. Predivtive analytics is concerned with the forecasting anaylsis