Question 1

What are some of the challenges facing a data miner?

Accepted Answer

Obtaining data for data mining due to organizational obstacles, privacy issues, secondary data availability, cost versus benefit, and expertise in data mining methods are some possible answers.

Question 2

Define an ancillary benefit of data mining?

Accepted Answer

Fraud detection.

Question 3

What variable cluster categories are related to cluster data mining efforts?

Accepted Answer

Demographic, psychographics, behavior, geographic.

Question 4

What is EIS?

Accepted Answer

EIS is an abbreviation for Exe

Question 5

What is the advantage to using RFM as an initial data mining effort?

Accepted Answer

RFM only requires three variables, all o

Question 6

What are the three variables used by an RFM data mining effort?

Accepted Answer

Recency, F

Question 7

What is derived data?

Accepted Answer

Data created or infe

Question 8

Which industry is usually looked on as a data mining leader and why?

Accepted Answer

The financial services industr

Question 9

Personality and lifestyle are examples of a _____ variable.

Accepted Answer

A)  Geographic 
B)  Demographic 
C)  Behavior 
D)  Scalable 
E)  Psychographic 
A)  Geographic 
B)  Demographic 
C)  Behavior 
D)  Scalable 
E)  Psychographic

Question 10

Identify three data mining approaches excluding RFM, decision tree and clustering?

Accepted Answer

Regression

Question 11

Which database entity(s) are normally used as a source of information for datamining?

Accepted Answer

A data mar

What are some of the challenges facing a data miner?

Define an ancillary benefit of data mining?

What variable cluster categories are related to cluster data mining efforts?

What is EIS?

What is the advantage to using RFM as an initial data mining effort?

What are the three variables used by an RFM data mining effort?

What is derived data?

Which industry is usually looked on as a data mining leader and why?

Personality and lifestyle are examples of a _____ variable.

Identify three data mining approaches excluding RFM, decision tree and clustering?

Which database entity(s) are normally used as a source of information for datamining?

Principles of CRM

History and Development of CRM

Relationship Marketing and Customer Relationship Management

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Sales Strategy and CRM

CRM, Technology, and Sales

Marketing Strategy and CRM

CRM, Marketing Automation, and Communication

CRM Program Measurement and Tools

Privacy and Ethics Considerations

The Future of CRM

Filters

Exam 7: Database and Customer Data Development

What are some of the challenges facing a data miner?

Define an ancillary benefit of data mining?

What variable cluster categories are related to cluster data mining efforts?

What is EIS?

What is the advantage to using RFM as an initial data mining effort?

What are the three variables used by an RFM data mining effort?

What is derived data?

Which industry is usually looked on as a data mining leader and why?

Personality and lifestyle are examples of a _____ variable.

Identify three data mining approaches excluding RFM, decision tree and clustering?

Which database entity(s) are normally used as a source of information for datamining?

Principles of CRM

History and Development of CRM

Relationship Marketing and Customer Relationship Management

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Sales Strategy and CRM

CRM, Technology, and Sales

Marketing Strategy and CRM

CRM, Marketing Automation, and Communication

CRM Program Measurement and Tools

Privacy and Ethics Considerations

The Future of CRM

Filters