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1Case Study: Applied Predictive Analytics Methods and StrategiesModule 3.2Embry-Riddle Aeronautical University
2Investment companies use data mining to understand the range of options available to their customers by predictive analyzing. There is no exact science to pinpoint the investment needs of everyone. 1.How did Union Investment define the business problem?2.Who are the stakeholders and how were they involved in defining the business problem. A Stakeholder is a person with an interest or concern in something, especially a business. Thestakeholders at Union investments are the existing and new customers who were investing into Union Investment. The stakeholders didn’t know it but each one of them played a huge role in defining the business problem. Currently, Union Investment offers asset management to both individual investors and retail investors. Its retail investors include the bank within the Volksbaken Raiffeisenbaken banking group, in which Union Investors provide highly specializedproducts for (IBM, 2014). Every one of them had different needs and goals, Union Investment istrying to use analytics to understand the differences for those individual needs and goals. The