Reference no: EM132923039

Question 1

There is no standard definition for big data or data mining. In this discussion forum, we follow the general definitions used in our textbook. "Big data" refers to a dataset that is too complex and big to apply traditional data analysis methods. "Data mining" is discovery-oriented in comparison to traditional databases when users know what they are looking for in the database.

Our textbook refers to the four Vs (i.e., volume, variety, velocity, and veracity) that make the big data big. Volume or the size is what everyone corresponds with big data, but the other three variables contribute to the complexity that is associated with big data.

- Provide an example of a company that is collecting big data for competitive advantage. Explain how each of the three Vs, outside the volume, is helping the company achieve competitive advantage.

- Explain the values of data mining in a business and at least three challenges in managing a data mining project.

QUESTION 2

Research the data mining practices of the organization you work for, or one that you are familiar with. Specifically, research their text mining and web mining practices. If they do not utilize text and web mining, research an organization that provides text and web mining services. Using this research,

- Explain how your chosen company benefits from text mining. Give an example of how your chosen company has successfully implemented text mining. Justify your answer.

- Explain how your chosen company benefits from web mining. Give an example of how your chosen company has successfully implemented web mining. Justify your answer.