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Data Mining and Business Intelligence

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Added on  2020-03-28

Data Mining and Business Intelligence

   Added on 2020-03-28

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Running head: DATA MINING AND BUSINESS INTELLIGENCEData Mining and Business IntelligenceName of the StudentName of the UniversityAuthor Note
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1 DATA MINING AND BUSINESS INTELLIGENCETable of ContentsIntroduction..........................................................................................................................21. Business Understanding...................................................................................................21.1 Business Objective.....................................................................................................21.1.1. Problem Area.....................................................................................................21.1.2 Business Success Criteria...................................................................................31.2 Assess Situation.........................................................................................................41.2.1 Inventory of Resources.......................................................................................41.2.2 Sources of Data and Knowledge.........................................................................41.2.3 Requirements, Assumptions and Constraints.....................................................61.3 Determining data mining goals..................................................................................8Conclusion...........................................................................................................................8References..........................................................................................................................10
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2 DATA MINING AND BUSINESS INTELLIGENCEIntroductionAIH is planning to offer financial help to the students by developing its own financialprograms. The primary aim of this project is to offer low interest financial help to the students toencourage more students to enroll with the organization. The business goal of this initiativeincludes increase in the number of students, offering assistance to the students in fees and otherliving expenses and further encouraging the senior citizens, home makers, low income earners tostudy without worrying about a the cost of studying. However, there are certain risks associatedwith this plan, which includes the risk of accruing bad debts and so on. The businessunderstanding of this scheme is elaborated in the following paragraphs. 1. Business Understanding1.1 Business ObjectiveThe main objective of this project is to provide a financial help for the students withoutusing the government sponsor. This organization is planning to implement this by developing itsown financial programs by linking with the existing financial institution. This noble initiative isnamed as “We can pay you to study now” by the organization. The idea and objective behindimplementing this project is to increase the students’ enrolment, offering assistance to thestudents with their fees, offering assistance for the living expenses of the students and providingavenue for students to encourage them for studying more without worrying. 1.1.1. Problem AreaThe major problem area associated with the implementation of this project is its businessdevelopment. Since the project deals with the development of financial help for the students by
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3 DATA MINING AND BUSINESS INTELLIGENCEdeveloping its own financial programs by linking with the existing financial institution, a majorproblem will occur in the implementation of the project if the existing financial institutionsrefuse to render their support. Data mining is important for this project as it will give an idea of the students’ structureand details of the people who although are interested in undertaking a course, are not being ableto join it due to financial issues (Shmueli & Lichtendahl Jr, 2017.). The prerequisite of the project is definitely a rough calculation of the probable number ofstudents who might be interested in undertaking a course if given this opportunity. Therefore, thebusiness definitely use data mining (Larose, 2014). The target group for this project is mainly the low-income earners, rural residents,international students and homemakers. A running system can definitely be expected as theorganization is planning to upgrade its scheme from government financial help to providing ownfinancial programs. The users’ needs and expectation includes, studying without worrying about paying thecourse fees.1.1.2 Business Success CriteriaThe successful implementation of this project may help in meeting the businessobjectives identified for this project. The different business success criteria associated with theproject are listed below- 1) The project would be considered successful from a business point of view only if theenrollment of students is increased by 20% on an average.
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