MIS2502: Exam 3 Study Guide Questions With 100% Verified Answers
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Course
MIS2502
Institution
MIS2502
MIS2502: Exam 3 Study Guide Questions
With 100% Verified Answers
Explain Clustering, one of the three advanced data analytics techniques we covered in the course
- answerThe process of grouping data so that
observations within a group will be similar to one another and observations from differe...
political forecasting, biology, finance. e.g.: Walmart's customer segmentation of Value-Price
Shoppers, Brand Aspirationals, and Price-Sensitive Affluents
What kinds of problems can Decision Trees solve through Data Mining and Advanced Data
Analytics Techniques? Provide a business-oriented example. - answer✔problems with multiple
outcomes. e.g.:
banks deciding whether or not to freeze account due to possible fraud
What kinds of problems can Association Rules solve through Data Mining and Advanced Data
Analytics Techniques? Provide a business-oriented example. - answer✔problems with
correlation. e.g.: amazon's recommendations
Explain how data mining differs from OLAP analysis - answer✔OLAP can tell you what is
happening, or what has
happened, while Data mining can tell you
why it is happening, and
help predict what will
happen
Why would you use this instead of a data cube and a pivot table? - answer✔data cubes and pivot
tables are non volatile, for example, You can't track daily sales if "date" is
monthly
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