Q. Why is it important for a data mining tool to be able to explain the rules and how patterns were discovered?

View solution

Q. What is a crucial consideration for data access in evaluating data mining tools?

View solution

Q. What is an essential aspect of data selection in data mining tools?

View solution

Q. Why is sensitivity to data quality important in a data mining tool?

View solution

Q. Why is data visualization considered crucial in data mining tools?

View solution

Q. What does extensibility in tool architecture refer to?

View solution

Q. What does scalability in data mining tools refer to?

View solution

Q. Why is openness considered a desirable feature in data mining tools?

View solution

Q. What is the importance of having a suite of algorithms in a data mining tool?

View solution

Q. Which commercial application of data mining involves uncovering risks associated with potential customers in insurance and mortgage businesses?

View solution

Q. What do credit card companies use data mining for in the context of abnormal spending patterns?

View solution

Q. How do loan companies use data mining technology?

View solution

Q. What application involves businesses using data mining to understand their customers through cluster detection algorithms?

View solution

Q. In what context do businesses use link analysis algorithms to uncover affinities between products?

View solution

Q. What is the term used to describe CRM applications that make use of data mining?

View solution

Q. What is the term for selling additional goods and services to a customer based on their usual purchases?

View solution

Q. Why is a good customer attrition management program essential for most companies?

View solution

Q. If a company has a high attrition rate, what is the key challenge it faces in terms of customer acquisition?

View solution

Q. How can data mining be effective in customer attrition management programs?

View solution

Q. What industry has been an early adopter of data warehousing due to fierce competition and narrow profit margins?

View solution