QUESTION a. Explain the importance of data mining tools and the types of information they produce. In...

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Economics

QUESTION

a. Explain the importance of data mining tools and the types ofinformation they produce. In what type of circumstance would youadvise a company to use data mining?

b. Describe the use of personalization and customization ine-commerce. What business value do these techniques have?

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a Data mining in huge data sets looks for hidden valid and potentially useful patterns Data Mining is about discovering between the data unsuspected previously unknown relationships It is a multidisciplinary skill that uses the technology of machine learning statistics AI and databases The insights derived through Data Mining can be used for marketing detection of fraud and scientific discovery etc First you have to understand the business and customer goals You need to define what your customer wants which they do not even See Answer

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