Data Mining and Modeling Midterm Questions with Correct Answers

Data Mining CORRECT ANSWER The process of discovering knowledge or insights from a large amount of dataset to help solve business problems, mitigate risk and seize opportunities. It is the process of using statistical, mathematical, business, and artificial intelligence techniques to extract and identify useful information and patterns in a large dataset Data Types in Data Mining CORRECT ANSWER Multimedia and streaming database, text databases, text mining and web mining, data and information repositories, data warehousing, relational databases Data Mining and Modeling Implementation Process CORRECT ANSWER Understand business process, data understanding, gather data and information, data modeling, evaluation, deployment, decision making Understanding the Business Process CORRECT ANSWER, The process of analyzing and understanding a business processes to help improve the efficiency and effectiveness of its operations with the help of data. Identify the business process to be analyzed; Processes that have a direct effect on business expenses, revenue, customers, and end products; Underperforming processes. Business Process Analysis Technique CORRECT ANSWER Gap analysis, value-added analysis, root cause analysis, observation, experience examination Collect Process Data and Information CORRECT ANSWER Go through all the sources of data and information about the process; Gather data and information about the process to unearth the issues, and to understand the objectives, and the areas of improvement; Data preparation, data transformation Data Modeling CORRECT ANSWER Data modeling defines a visual representation of data elements, their structures and the relationships between the