Executives at Hartford Clothing, a retail department store chain, want to find out what products their customers buy, when they purchase products, and what days of the week are most popular for shopping. Executives want to discover customer patterns and make predictions about their customers' buying habits. What would be the most effective tool for Hartford?

Data Mining System

Explanation:

Data Mining is the process of finding information from large set of data by applying statistics, database systems, machine learning, visualization and information sciences to understand the system and match their requirements with such systems.

It involves finding abnormalities, sequence and correlations within large data sets to predict results by involving high level techniques to extract tangible information

Data mining has helped in a lot of ways by using information from this source to increase profits, cut Expenditure, improve customer relationships, reduce risks etc

The effective tool for Executives at Hartford Clothing is Data Mining System to generate information.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

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