Hypothesis Generation Tool
A tool used to develop assumptions or hypotheses about customer behavior, often early in a research process.
Implications
A software or methodology used to systematically generate hypotheses based on available data, patterns, or theoretical frameworks, often used in data science, research, and business analytics to identify potential factors driving observed outcomes.
Example
Example: A data science team uses a hypothesis generation tool to explore possible reasons for a sudden drop in customer retention, identifying potential variables such as changes in pricing, product features, or customer support interactions.
Related Terms
Different from simple data exploration, which might involve unstructured analysis, a hypothesis generation tool provides a more structured approach to identifying and formulating testable hypotheses.
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