List five reasons for the growing popularity of data mining in ...

[Tirant22]

List five reasons for the growing popularity of data mining in the business world.
 
  What will be an ideal response?

Question 2

In the Great Clips case study, the company uses geospatial data to analyze, among other things, the types of haircuts most popular in different geographic locations.
 
  Indicate whether the statement is true or false

[ngr69]

Answer to Question 1

 More intense competition at the global scale driven by customers' ever-changing needs and wants in an increasingly saturated marketplace
 General recognition of the untapped value hidden in large data sources
 Consolidation and integration of database records, which enables a single view of customers, vendors, transactions, etc.
 Consolidation of databases and other data repositories into a single location in the form of a data warehouse
 The exponential increase in data processing and storage technologies
 Significant reduction in the cost of hardware and software for data storage and processing
 Movement toward the de-massification (conversion of information resources into nonphysical form) of business practices

Answer to Question 2

FALSE

[Tirant22]

Correct answers!

[ngr69]

Great! Please up vote