In the context of a specific industry (e.g., healthcare, finance), how would you use Hierarchical Clustering and interpret the dendrogram for actionable insights?

  • All of the above
  • By using clusters for fraud detection in finance
  • By using clusters to identify key market segments
  • By visualizing clusters for patient segmentation
In different industries like healthcare, finance, and marketing, Hierarchical Clustering can be used to provide actionable insights. In healthcare, it might be used for patient segmentation, in finance for fraud detection, and in marketing to identify key market segments. The dendrogram aids in visualizing and interpreting the hierarchical relationships, guiding data-driven decisions and strategies.
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