What are the different processes used to analyze patterns, trends, and relationships in data mining?
What will be an ideal response?
The different types of processes used to analyze patterns, trends, and relationships are the market-basket analysis, text mining, what-if analysis, goal-seeking analysis, optimization, and forecasting. The market basket analysis looks for relationships to reveal customer behavior patterns as they purchase multiple items. Text mining, on the other hand, is a variation of data mining and refers to a discovery process in which unstructured text information is the source of business intelligence, rather than structured data. A what-if analysis builds a model that establishes relationships between many variables and then changes some of the variables to see how others are affected. Goal-seeking analysis is similar to what-if analysis, but in reverse. It is a process which allows the user to set a target value for a particular metric and tell the program which variable to change to try to reach the goal. Optimization is an extension of goal seeking in which the user can change many variables to reach some maximum or minimum target, as long as the changes stay within the constraints the user identifies. Forecasting tools analyze historical and seasonal trends and then take into account existing and predicted business conditions to estimate some variable of interest, such as customer demand or projected revenue.
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Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a
wide variety of markets, and are difficult to imitate. A) core competencies B) infrastructure C) market-sensing processes D) fulfillment management processes E) outbound logistics
What are some ways to respond to overdemand?
What will be an ideal response?
The _______________________________ doctrine refers to a U.S. Supreme Court ruling that empowered the NLRB to classify bargaining issues into three categories of bargaining items: mandatory, permissive, and illegal.
Fill in the blank(s) with the appropriate word(s).
Opportunities to reduce environmental impact during production typically revolve around the three themes of ________
Fill in the blanks with correct word