Modeling/Modelling

Modeling/Modelling - modeling is an area of data analysis used by direct marketers to predict future events and/or behavior by applying inferential statistics to historical data and trends.

[Category=Database Marketing ]

Source: NextMark, 15 August 2009 12:00:29, https://www.nextmark.com/resources/glossary-of-terms/ ?glossaryTermId=a0800000000F3FjAAK

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Modeling - A process involving computerized cloning of a given customer list (Business or Consumer) to provide prospecting names in descending array based on probability of response. Also, a means to provide reasonable answers to "what if" scenarios when various offers are under consideration.

[Category=Database Marketing ]

Source: Postcom, 21 March 2010 10:40:19, http://postcom.org/public/admail_image/glossary.htm

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Modeling - To represent how a business works and functions in such a way that it can productively be used as a means to simulate the real world. Executives, planners, managers and analysts use modeling to simulate and test operational and financial planning assumptions.

[Category=Information Management ]

//Source: Information-Management.com, 28 June 2010 08:11:45, www.information-management.com/glossary/m.html//