Data Mining Is The

question 1

Multiple Choice

Data mining is the:

• A) automated, electronic capture of data
• B) process of hypothesis testing in large databases
• C) process of verifying known relationships in large amounts of data
• D) process of discovering unknown patterns and relationships in large amounts of data
• E) method used to identify and eliminate perishable data

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Definitions:

Supply Chain Management

The oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer, aiming to streamline a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace.

Loss Incurred

Refers to a financial deficit that results from a business operation, transaction, or other activities.

Unsold Unit

A product unit that remains unsold after being offered to the market, representing a missed revenue opportunity.

Production Methods

Various approaches and techniques used in the creation of goods and services, including mass production, batch production, and custom production.