Assignment
4: Data Mining
Due Week 9
and worth 75 points
The
development of complex algorithms that can mine mounds of data that have been
collected from people and digital devices have led to the adoption of data
mining by most businesses as a means of understanding their customers better
than before. Data mining takes place in retailing and sales, banking,
education, manufacturing and production, health care, insurance, broadcasting,
marketing, customer services, and a number of other areas. The analytical
information gathered by data-mining applications has given some businesses a
competitive advantage, an ability to make informed decisions, and better ways
to predict the behavior of customers. Write a four to five (4-5) page paper in
which you:
1. Determining
the benefits of Data mining to the business when employing:
1. Predictive
analysis to understand the behavior of customers
2. Associations
discovery in products sold to customers
3. Web
mining to discover the business intelligence from web customers
4. Clustering
to find related customer information
2. Assess
the reliability of the data mining algorithms. Decide if they can be trusted
and redicts the errors they are likely to produce
3. Analyze
privacy concerns raised by the collection of personal data for mining purposes.
1.
Choose and describe three (3)
concerns raised by consumers.
2.
Decide if each of these concerns is
valid and explain your decision for each.
3.
Describe how each concern is being
allayed.
4. Provide at least three (3) examples
where businesses have used predictive analysis to gain a competitive advantage
and evaluate the effectiveness of each business’s strategy.
5. Use at least three (3) quality
resources in this assignment. Note: Wikipedia and similar Websites do not
qualify as quality resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size
12), with one-inch margins on all sides; citations and references must follow
APA or school-specific format. Check with your professor for any additional
instructions.
Include a
cover page containing the title of the assignment, the student’s name, the
professor’s name, the course title, and the date. The cover page and the
reference page are not included in the required assignment page length