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BUS625 Week 4 Assignment .docx - Week 4 Assignment: Data...

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Week 4 Assignment: Data Mining1Week 4 Assignment: Data MiningAshley WarrenUniversity of Arizona Global CampusBUS625: Data & Decision AnalyticsInstructor: Timothy CrawfordMarch 21, 2022
Week 4 Assignment: Data Mining2Data MiningThere is fierce competition and high demand in today's market. It is crucial for businessesto find ways to differentiate themselves from the competition. Utilizing data mining practices isone of the ways that many companies generate and sustain competitive advantage. “Data mining,also known as knowledge discovery in data (KDD), is the process of uncovering patterns andother valuable information from large data sets. Given the evolution of data warehousingtechnology and the growth of big data, adoption of data mining techniques has rapidlyaccelerated over the last couple of decades, assisting companies by transforming their raw datainto useful knowledge. However, even though that technology continuously evolves to handledata at a large-scale, leaders still face challenges with scalability and automation” (Education,2021). With the assistance of data mining, organizations are making better decisions. Severaldata mining techniques are used to underpin these analyses; they are used either to describe thetarget dataset or to predict outcomes using machine learning algorithms.Companies can improve their operational efficiency and effectiveness through data mining.Understanding consumers and what they want is one of the benefits of data mining. Despite thebenefits it can bring to companies, data mining can also backfire if not implemented properly.Data Mining ProcessThe overall goal to data mining is to “extract useful information hidden in database”(Sharpe et al., 2019, p. 748).The data mining process has six steps:1.Business Understanding=Data mining begins with understanding the business. First,the company determines what the problem is. A specific problem must be identified before theprocess can begin. Data mining fails without identifying the problem.

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