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:

Reform Committee

A group or body tasked with reviewing and suggesting improvements to policies, practices, or systems, typically within organizations or governmental entities.

Environmental Policy

Guidelines and regulations developed and implemented by governments or organizations to protect the natural environment.

Minority Influence

The process by which a smaller faction within a group, despite being outnumbered, manages to persuade the majority to adopt their point of view or behavior.

Matters Of Opinion

Issues or topics that are subjective and open to personal interpretation, beliefs, or preferences, rather than being based on fact or necessity.