The First Step in the Data Mining Process Is to Understand

question 18

True/False

The first step in the data mining process is to understand the relevant data from the available databases.

---

Definitions:

Transaction

An exchange or transfer of goods, services, or funds between two or more parties.

Benefit

An advantage or positive outcome gained from something, often used in the context of employment perks or features of a product or service.

Moral Hazard

Moral hazard occurs when one party in a transaction takes on more risk because they know that someone else will bear the cost of those risks.

Transaction

The act of conducting business between two or more parties, often involving the exchange of goods, services, money, or information.