What is the method of data analysis that examines customer behavior over time called?

• A. Focus groups
• B. Market share
• C. Market research
• D. Observations

Answer: (C)

The method of data analysis that examines customer behavior over time is referred to as market research. This process involves collecting data to understand consumer needs and preferences, including how they change over time. By analyzing historical data on purchasing patterns, preferences, and demographic information, businesses can gain insights into trends in customer behavior. This information is vital for making informed decisions about marketing strategies, product development, and other important business functions. The ability to track changes in consumer behavior over time allows companies to adapt their approaches to better meet customer demands, ultimately enhancing customer satisfaction and loyalty.

Other methods listed, like focus groups, are primarily used for qualitative insights at a single point in time rather than over an extended period. Market share measures a company’s percentage of total sales in a particular market but does not analyze customer behavior. Observations entail watching customer interactions in real time but lack the longitudinal analysis that market research provides.