Which Three of the Following Best Describe Useful Applications of Data

question 43

Multiple Choice

Which three of the following best describe useful applications of data mining?

• A) Building up customer purchase histories to target promotions
• B) Credit risk assessment in financial services
• C) Creating address- merge mailing to specific customers
• D) Accurately and rapidly carrying out payroll calculations
• E) Identifying underlying drivers of demand (e.g. demographic factors)

Recognize the importance of matching outcomes to hypotheses, business problems, and opportunities.

Identify the steps of the scientific process in entrepreneurship.

Learn the significance of adapting or persevering in response to experimental outcomes.

Grasp the concept of low-cost, rapid experimentation for validation of business ideas.

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Definitions:

Chemotherapy

A type of cancer treatment that uses drugs to destroy cancer cells by halting their ability to grow and divide.

Prevented

Stopped from happening or kept from occurring.

Flavor Aversion

Avoidance of a flavor that precedes an illness experience.

Conditioning Situation

A learning scenario in which an individual learns to associate a neutral stimulus with a meaningful stimulus, resulting in a learned response.