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Data Mining in Retail

In: Data Mining for Managers

Author

Listed:
  • Richard Boire

Abstract

When considering consumers and their behavior at the most basic level, typically the transaction between seller and buyer comes to mind first. Being able to sell what a consumer wants is at the core consumer marketing. In earlier times, buyers and sellers converged at a public venue in open forums. Transactions then involved bartering, and buyers and sellers exchanged roles during the transaction. Eventually, goods and services came to be exchanged with some form of common currency rather than through bartering. Currency as the primary exchange instrument for buying and selling made more formal structures possible, such as stores.

Suggested Citation

  • Richard Boire, 2014. "Data Mining in Retail," Palgrave Macmillan Books, in: Data Mining for Managers, chapter 0, pages 193-200, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-40619-4_24
    DOI: 10.1057/9781137406194_24
    as

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