(Doc) Assignment on Data Mining

Running head: DATA MINING
Data Mining
Name of the Student
Name of the University
Author’s Note:

1DATA MINING
1. Business Understanding
1.1 Business Objectives
Task: Determination of Business Objectives
Data mining is the procedure of finding the valuable and important knowledge by the
analysis of bulk amount of data, recorded and kept in data warehouses or databases (Grossman et
al. 2013). This process is done by several techniques of data mining like artificial intelligence,
statistics and machine learning. A person who does data mining is known as a data miner. AIH
offers financial help for the students. The business analyst or data miner has several business
objectives for this particular case study (Witten et al. 2016). They are as follows:
i) The first and the foremost objective of the data miner is to understand the objectives of
the client from the perspective of business.
ii) The second objective of a data miner is to help the client in balancing all the
competing constraints and objectives.
iii) The third objective of data miner is to understand and discover the main factors that
will influence the output.
Activities: Problem Area
The students of AIH will be getting financial help from the institution. AIH will develop
their own programs of finance with all the existing institutions of finance (Larose 2014).
However, there are various risks and threats. There is a high chance of risk of collecting all types
of bad debts from this scheme of financially helping the students. This risk can create major
difficulties in finance for both the university and the students (Liu and Motoda 2012). The

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initiative of the organization is that they will pay the money and the students can study without
worrying. The organization has hired a data miner, who is performing a data mining project in
the organization (Siemens and d Baker 2012). This data mining process would be helpful for the
organization as it will help to obtain the organizational goals and objectives easily. The
motivation of the project is those students and individuals, who are not able to complete their
education because of expenses. The business is not utilizing the data mining yet but is planning
to use it. A written report is expected from the top management level as they will provide the
permission for any type of activity in the organization. This data mining would be the key
technology in the business (Freitas 2013). The users of this project are the members of the
organization. The main need and the expectation of the users of this project are to reduce or
mitigate the financial risk of the project by means of data mining and also to obtain the
organizational goals.
Output: Business Objectives
The students of AIH will be getting financial help from the institution. AIH will develop
their own programs of finance with all the existing institutions of finance. They will not be
utilizing any program that is sponsored by government (Braha 2013). AIH will become the
guarantor for the funds and will be sourcing the funds from its existing institutions. They have
several goals and objectives for their business. They are as follows:
i) Increment in the enrolment of students
ii) Providing assistance for the fees of students
iii) Providing assistance for the expenses of the regular needs of the student

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iv) Offering help to the students to work less and study more during their academic
semesters.
v) Encouraging all the professionals, international students, potential groups, low income
earners, senior citizens, holidaymakers and rural residents to continue their education without
any type of tension of expenses (Shmueli and Lichtendahl Jr 2017).
vi) Performing financial management in the business.
Output: Business Success Criteria
The business success criteria of this organization are as follows:
i) Financial Management: The management for the finance is the major criteria for this
project as it not is sponsored by government (Liao, Chu and Hsiao 2012). They have to sponsor
their own project with own funds. This is again one of the objectives of the business.
ii) Product Management: This is another important factor for success in any business.
The product in this factor means both the product and service of any project. The service of this
project will be for the students (Bhardwaj and Pal 2012). They should manage the service in such
a way that the students and the individuals will be able to get the benefit easily.
The success criteria of any business are assessed by the management level of that
organization.
1.2 Assess Situation
Activities: Inventory of Resources
The resources of any project are the amalgamation of the personnel, data, computing
resources and software. The details of the resources are given in the following table: