Banking · Data Mining
How does data mining benefit banks in relation to customer behaviour?
- 1By removing all customer information to protect privacy
- 2By using advanced algorithms to identify patterns in demographic, psychographic, and transactional data✓
- 3By discouraging banks from segmenting their customers
- 4By ensuring banks only focus on high-net-worth customers
Correct answer
By using advanced algorithms to identify patterns in demographic, psychographic, and transactional data
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