What Makes Data Mining an Important Business Tool? What Types

question 28

Essay

What makes data mining an important business tool? What types of information does data mining produce? In what type of circumstance would you advise a company to use data mining?

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Definitions:

Social Responsibility

The ethic that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large.

Primary Stakeholders

The main parties with a significant interest or investment in a project or business, directly impacting or being impacted by its activities.

Workplace Diversity

The inclusion of a wide range of people in a workplace, embracing differences in race, gender, age, religion, identity, and cultural backgrounds.

Work Teams

Groups of employees who collaborate and share responsibilities to achieve specific goals or complete particular projects within an organization.