Exam 4: Predictive Analytics I: Data Mining Process, methods, and Algorithms

The entire focus of the predictive analytics system in the Infinity P&C case was on detecting and handling fraudulent claims for the company's benefit.

Data preparation,the third step in the CRISP-DM data mining process,is more commonly known as ________.

________ was proposed in the mid-1990s by a European consortium of companies to serve as a nonproprietary standard methodology for data mining.

Knowledge extraction,pattern analysis,data archaeology,information harvesting,pattern searching,and data dredging are all alternative names for ________.

Statistics and data mining both look for data sets that are as large as possible.

Market basket analysis is a useful and entertaining way to explain data mining to a technologically less savvy audience,but it has little business significance.

Third party providers of publicly available data sets protect the anonymity of the individuals in the data set primarily by

In the Dell cases study,the largest issue was how to properly spend the online marketing budget.

In data mining,finding an affinity of two products to be commonly together in a shopping cart is known as

Understanding customers better has helped Amazon and others become more successful.The understanding comes primarily from

In the cancer research case study,data mining algorithms that predict cancer survivability with high predictive power are good replacements for medical professionals.

Ratio data is a type of categorical data.

Data that is collected,stored,and analyzed in data mining is often private and personal.There is no way to maintain individuals' privacy other than being very careful about physical data security.

In the terrorist funding case study,an observed price ________ may be related to income tax avoidance/evasion,money laundering,or terrorist financing.

The data mining in cancer research case study explains that data mining methods are capable of extracting patterns and ________ hidden deep in large and complex medical databases.

In the Dell case study,engineers working closely with marketing,used lean software development strategies and numerous technologies to create a highly scalable,singular ________.

One way to accomplish privacy and protection of individuals' rights when data mining is by ________ of the customer records prior to applying data mining applications,so that the records cannot be traced to an individual.

In lessons learned from the Target case,what legal warnings would you give another retailer using data mining for marketing?

Which data mining process/methodology is thought to be the most comprehensive,according to kdnuggets.com rankings?

Data mining can be very useful in detecting patterns such as credit card fraud,but is of little help in improving sales.