Exam 4: Data Mining for Business Intelligence

With ________, a fixed number of instances from the original data is sampled (with replacement) for training and the rest of the dataset is used for testing. This process is repeated as many times as desired.

Numeric data represent the numeric values of specific variables, which are ________ variables that can take on an infinite number of fractional values.

Mass, length, time, energy, and electric charge are examples of ________ data because their scales have a nonarbitrary zero value.

List five of the data mining mistakes often made in practice.

Because the data mining is driven by experience and experimentation, depending on the problem situation and the analyst's knowledge, the whole process can be ________ and ________, i.e., one should expect to go back and forth through the steps quite a few times.

Generally speaking, data mining tasks can be classified into three main categories: ________, prediction, and clustering.

Business analytics and data mining provided 1-800-Flowers with all of the following benefits except:

Because the latter steps in the data mining process are built on the outcome of the former ones, one should:

In an article in Harvard Business Review, Thomas Davenport (2006) argued that the latest strategic weapon for companies is ________.

Associations are a type of pattern that discovers time-ordered events, such as predicting that an existing banking customer who already has a checking account will open a savings account followed by an investment account within a year.