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Data Mining in Business Applications

   

Added on  2020-03-04

11 Pages2136 Words39 Views
Running head: DATA MININGDATA MININGName of StudentName of UniversityAuthor’s note
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1DATA MININGTable of ContentsTASK 1............................................................................................................................................2Usage of data mining in business....................................................................................................2Necessity of data mining.................................................................................................................2Applications of data mining in business..........................................................................................2Recent articles related to data mining..............................................................................................3TASK 2............................................................................................................................................5Introduction......................................................................................................................................5Analysis...........................................................................................................................................5Importance of implication................................................................................................................7Conclusion.......................................................................................................................................8References........................................................................................................................................9
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2DATA MININGTASK 1Usage of data mining in businessNecessity of data miningData mining is a collection of great data that consist of certain pattern are derived from itused for studying the behavior of customer in the market. Data Mining is an integral part of thebusiness for encouraging the customer behavior and purpose to gain the preferences of thecustomer towards the company in the market.Applications of data mining in businessThere are various applications of the data mining in companies in the market in differentfield. Some of the applications are discussed below:HealthCare IndustryThere are different data and information related to the patients are recorded in thehospitals. Therefore, data mining is an important element in arranging the data according to thepatent. The data mining helps in maintaining the data related to treatment of a particular patientin the hospital. It also helps in predicting the outbreaks of the disease.BankingThere are large amount of data and information are stored in the bank related ti thecustomers. There are different types of data including cash amount, customer’s name, address,shopping bills and other related data. Therefore, it is important to maintain the correct relation of
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3DATA MININGthe data with respective customer. The data mining helps in maintaining a huge pool of data andallocate with appropriate customer.EducationThe data mining has also helped in education sector. Many lectures and classes areallocated to particular student. The results of a particular student is maintained by the datamining. The completely academic career of a student is maintained by the use of data mining inthe sector. Detection of lies and fraudThe data mining helps in creating meaningful security pattern of the data. Therefore, thiscan be used in detecting the lies and fraud cases in the organization. There are various programinstalled in the data mining process that helps in detecting the lies and fraud.Recent articles related to data miningCambridge Analytical: Trump's data mining advisers to meet Australia's Liberal MPs.The above article focuses on a data mining company named as Cambridge Analytical thatis a key backroom operatives of the US president Donald Trump’s Campaign in the white house.The meeting is organized on 6 April 2017 with the Liberal party, parliamentarians andgovernment staffs. Cambridge Analytica includes controversial “psychographic” methods foridentifying a particular slogan by the voter. This company is also opening its branch in theAustralia (Murphy, 2017). This article discusses about the use of data mining organizing the meeting in the whitehouse by the company. The data of the representatives and other staffs have to be properly
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