A Put True or False against each statement If False justify

A) Put True or False against each statement. If False, justify your answer.

E-commerce no longer presents a major opportunity for the effective use of data mining.

Design is the first step (in the overall process) of decision-making phase of problem solving.

Programmed-decisions are made using rules, procedures, statistical methods or quantitative method.

Data Mining largely relies on statistical techniques and machine learning to discover facts in a large datasets.

B) Research and identify Information Technology and Autobmobile, any business problems currently faced and how appling Data Mining process will benefit in finding a solution to the identified problems. and four reasons why do you think Data Mining is more popular now compared to 20 years ago. Can you type your answer.

Solution

A. False

Explaination: Data mining is of great importance to E-commerse in order to create a great user experience as well as extracting the information from the user data which can be in size of peta bytes. It can be used for pattern mining, trend discovery and prediction.

Data mining can be used to build product recommendation system, product research and fraud detection.

B. True

Four reasons why Data Mining is more popular now than 20 years ago.

1. Most important reason is availability of digital data. The volume of data has grown tremendously in these 20 years. Data is continuously increasing in Volumes, Veriery and Velocity. So, we need data mining techniques to get insights from such huge amount of data.

2. Advancement of predominent technologies. Now big data can be easily stored and analysed using advance tools and techniques. It can be stored in HDFS and analyzed using parallel Map Reduce jobs.

3. Maintaining the privacy of the users. Data collectors can use the data mining to detect the sensitive user information and take some measures to reverve the user trust.

4. One more reason that makes use of data mining quite popular in today\'s world is the growing competition among various companies. Now data mining can be applied on the data to get information related to cost reductions, time reductions, new product development and optimized offerings.