Briefly Explain Classification as a Data-Mining Tool with an Example

question 35

Essay

Briefly explain classification as a data-mining tool with an example.

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Definitions:

Managerial Accounting

The area of accounting focused on providing financial data and advice to company managers for decision-making purposes.

GAAP

Generally Accepted Accounting Principles encompass a series of standard accounting practices and rules for the creation of financial reports.

Financial Accounting

The field of accounting that focuses on providing information to external users such as investors, creditors, and regulators, primarily through financial statements.

GAAP

A set of widely accepted accounting norms and standards, referred to as Generally Accepted Accounting Principles, for the preparation of financial statements.