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Data Exploitation in the Digital Age
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Data Exploitation in the Digital Age

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Questions and Answers

What has led to the increasingly widespread business application of data science principles and data-mining techniques?

  • Limited availability of algorithms for connecting datasets
  • Volume and variety of data outstripping the capacity of manual analysis (correct)
  • Decreased reliance on computers and networking
  • Reduced focus on exploiting data for competitive advantage
  • In which industry are the widest applications of data-mining techniques found?

  • Manufacturing
  • Marketing (correct)
  • Healthcare
  • Education
  • What is a major application of data mining in the finance industry?

  • Online advertising
  • Healthcare management
  • Credit scoring (correct)
  • Supply-chain management
  • Which sector uses data mining for tasks such as fraud detection and workforce management?

    <p>Retail</p> Signup and view all the answers

    What has outstripped the capacity of manual analysis in exploring datasets?

    <p>Volume and variety of data</p> Signup and view all the answers

    What is the primary purpose of using data mining in general customer relationship management?

    <p>Analyze customer behavior to manage attrition and maximize expected customer value</p> Signup and view all the answers

    What is the primary goal of the book mentioned in the text?

    <p>To provide a framework for systematically analyzing business problems</p> Signup and view all the answers

    What does the text suggest about the terms 'data science' and 'data mining'?

    <p>Data science has taken a life of its own, separate from data mining</p> Signup and view all the answers

    Why is it important to understand data science even if you never intend to apply it yourself?

    <p>To evaluate proposals for data mining projects</p> Signup and view all the answers

    What does the text imply about the relationship between data science and data mining techniques?

    <p>Data mining techniques embody the basic principles of data science</p> Signup and view all the answers

    What should a reader be able to do after getting better at data-analytic thinking?

    <p>Spot obvious flaws in proposals for data mining projects</p> Signup and view all the answers

    What does the text suggest about the relationship between data science and intuition?

    <p>Data science will provide structure and principles, leading to the development of intuition</p> Signup and view all the answers

    What is the main difference between 'data science' and 'data mining' according to the text?

    <p>'Data science' incorporates fundamental principles, while 'data mining' involves technologies that embody these principles</p> Signup and view all the answers

    What does 'data-analytic thinking' enable you to do?

    <p>Systematically analyze business problems</p> Signup and view all the answers

    What does the text suggest about the relationship between 'data perspective' and business problems?

    <p>A 'data perspective' will provide structure and principles for analyzing business problems systematically</p> Signup and view all the answers

    Why does the text emphasize basic principles over specific techniques in the book?

    <p>Because basic principles are more practical and applicable than specific techniques</p> Signup and view all the answers

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