Data Mining in Knowledge Management Quiz

Data mining in CRM involves using techniques to analyze customer data and behavior in order to improve marketing, sales, and customer service efforts. It helps in identifying patterns and trends to better understand and serve customers.

Data mining is the process of discovering patterns and relationships in large datasets. Two different definitions from the text are: 1) 'The search for relationships and global patterns that exist in large databases but are hidden among the vast amount of data' and 2) 'A set of techniques used in an automated approach to exhaustively explore and bring to the surface complex relationships in very large data sets.'

The technical drivers of data mining include high volume transaction systems, data warehouses, and the Internet. These technologies have contributed to the evolution of data mining.

<p>Business intelligence (BI) encompasses all processes, techniques, and tools that support business decision making based on information technology. Data mining is a component of BI, and it involves using techniques to discover patterns and relationships in large datasets to support decision making.</p> Signup and view all the answers

<p>Data mining is considered a component of the virtuous cycle in data management because it involves extracting valuable insights and knowledge from data, which can then be used to improve data quality and decision making, thus feeding back into the cycle.</p> Signup and view all the answers