What are main reasons for recent popularity of data mining

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Reference no: EM133519096

Assignment

Complete the following assignment in one word document each (2-word documents (question 1 - 1 page, question 2 - 1 page)):

1. How do you describe the importance of data in analytics? Can we think of analytics without data? Explain.
2. Considering the new and broad definition of business analytics, what are the main inputs and outputs to the analytics continuum?
3. Where do the data for business analytics come from? What are the sources and the nature of those incoming data?
4. What are the most common metrics that make for analytics-ready data?

Question I: Go to data.gov-a U.S. government-sponsored data portal that has a very large number of data sets on a wide variety of topics ranging from healthcare to education, climate to public safety. Pick a topic that you are most passionate about. Go through the topic-specific information and explanation provided on the site. Explore the possibilities of downloading the data, and use your favorite data visualization tool to create your own meaningful information and visualizations.

Concepts need to be used - for writing below question 2 - class room concepts

1. Define data mining. Why are there many names and definitions for data mining?
2. What are the main reasons for the recent popularity of data mining?
3. Discuss what an organization should consider before making a decision to purchase data mining software.
4. Distinguish data mining from other analytical tools and techniques.
5. Discuss the main data mining methods. What are the fundamental differences among them?

Question II: Visit teradatauniversitynetwork.com. Identify case studies and white papers about data mining. Describe recent developments in the field of data mining and predictive modeling.

Textbook: Business Intelligence and Analytics by Ramesh Sharda, Dursun Delen and Efraim Turban, 11th Edition, Pearson Publication. ISBN: 9780135192016.

Reference no: EM133519096

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