Exam 5: Data Mining for Business Intelligence

Data mining is a prime candidate for better management of companies that are data-rich,but knowledge-poor.

Data that has a meaningful,or nonarbitrary,zero point is ________ data.

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

________ means that discovered patterns in a dataset hold true on new data with a sufficient degree of certainty.

Data types such as date/time,unstructured text,image,and audio need to be converted into some form of categorical or numeric representation before they can be processed by data mining algorithms.

List the six steps in the CRISP-DM Data Mining Process.

Predictions tells the nature of future occurrences of certain events based on what has happened in the past,such as predicting the winner of the Super Bowl or forecasting the absolute temperature of a particular day.

What is a major characteristic of data mining?

With ________ forecasting,the data are a series of values of the same variable that is captured and stored over time.These data are then used to develop models to extrapolate the future values of the same phenomenon.