Airlines automatically adjust ticket prices based on customer demand, indicates what type of analytics?1 pointPredictive AnalyticsDescriptive AnalyticsPrescriptive Analytics

Question 5What type of analytics would be most suitable for anticipating customer preferences based on historical purchase data?1 pointDescriptive ModelingClassification ModelingStatistical ModelingPredictive Modeli

Explain one reason why airlines use dynamic pricing, especially when selling tickets to online customers.

Worldwide Airlines scheduled December flights based on last year’s travel data. However, when December arrived, Worldwide Airlines cut 1,200 flights. This demonstrates thatMultiple Choiceservice providers may find it hard to customize their services based on the needs and preferences of customers.services cannot be provided at the point of consumption.it is extremely easy for service providers to standardize their output.it can be extremely difficult for service providers to accurately estimate the demand for their services.

Pricing StrategiesProductA: Competition-based pricing1. GroceriesB: Customer value-based pricing2. Airline ticketsC: Cost-based pricing 3. Luxury goods

How can analytics be used in customer journey mapping?Answer choicesSelect only one optionREVISITTo increase the product priceTo track customer behavior and measure the effectiveness of different touchpointsTo reduce the number of customersTo promote the brand on social media