Data mining is the process of collecting, processing, storing and analyzing data from different perspectives in order to summarize it into useful information.
Benefits of data mining.
1. In finance and banking, data mining is used to create accurate risk models for loans and mortgages and detecting fraudulent transactions.
2. In marketing, data mining techniques are used to improve conversions, increase customer satisfaction, create advertising campaigns, analyzing the needs in the market and coming up with new ideas for product lines by looking at historical sales and customer data.
3. Retail stores use customer shopping habits and customer details to optimize the layout of their stores in order to improve customer experience and increase profits. It also helps the retail companies to offer certain discounts for particular products that will attract more customers.
4. In the government, tax governing bodies/agencies use data mining techniques to detect fraudulent transactions and eliminating suspicious tax returns or other business documents.
5. In manufacturing, data mining is used to improve product safety, usability and comfort.
Mwalimu Bonface answered the question on April 14, 2018 at 07:43
- Outline the four major symbols used by functional modelling perspective to describe a process.(Solved)
Outline the four major symbols used by functional modelling perspective to describe a process.
Date posted: April 14, 2018. Answers (1)
- Briefly explain the concept of functional modeling in DBMS.(Solved)
Briefly explain the concept of functional modeling in DBMS.
Date posted: April 14, 2018. Answers (1)
- Briefly discuss the history of the evolution of the internet.(Solved)
Briefly discuss the history of the evolution of the internet.
Date posted: April 14, 2018. Answers (1)
- Briefly write short notes on the 5 classes of IPv4 addressing system.(Solved)
Briefly write short notes on the 5 classes of IPv4 addressing system.
Date posted: April 14, 2018. Answers (1)
- Differentiate between absolute URL and relative URL.(Solved)
Differentiate between absolute URL and relative URL.
Date posted: April 14, 2018. Answers (1)
- A school not being aware of the various threats that their computers networks are exposed to, advice and discuss with the management the ways and...(Solved)
A school not being aware of the various threats that their computers networks are exposed to, advice and discuss with the management the ways and means of protecting online website operations from hackers.
Date posted: April 14, 2018. Answers (1)
- You have been posted to a new school having graduated from a Kenyan university. The school being aware of your IT skills, they have requested...(Solved)
You have been posted to a new school having graduated from a Kenyan university. The school being aware of your IT skills, they have requested you to advise them on their new project of coming up with a computer network for the school to connect to the internet. Advice the school on what is required.
Date posted: April 14, 2018. Answers (1)
- What is the difference between e-mail and e-mail software?(Solved)
Differentiate between e-mail and e-mail software.
Date posted: April 14, 2018. Answers (1)
- Explain each of the following technologies.
a. Network technology.
b. Client technologies.
c. Server technology.
d. Operating system technology.(Solved)
Explain each of the following technologies.
a. Network technology.
b. Client technologies.
c. Server technology.
d. Operating system technology.
Date posted: April 14, 2018. Answers (1)
- What is the procedure of downloading and saving a web page having contents of interest from a particular site?(Solved)
Explain the procedure of downloading and saving a web page having contents of interest from a particular site.
Date posted: April 14, 2018. Answers (1)
- What is IT infrastructure?(Solved)
What is IT infrastructure?
Date posted: April 14, 2018. Answers (1)
- Why is it important to consider users while developing systems?(Solved)
Why is it important to consider users while developing systems?
Date posted: April 14, 2018. Answers (1)
- What is the difference between hypertext and hyperlink?(Solved)
Distinguish between hypertext and hyperlink.
Date posted: April 14, 2018. Answers (1)
- What is the difference between downloading and uploading?(Solved)
Differentiate between downloading and uploading.
Date posted: April 14, 2018. Answers (1)
- What are the examples of web browsers?(Solved)
Give examples of web browsers.
Date posted: April 14, 2018. Answers (1)
- What is a web browser?(Solved)
Define a web browser.
Date posted: April 14, 2018. Answers (1)
- What is the meaning of "Sign Out/ Log out?"(Solved)
Explain the meaning of "Sign Out/ Log out"
Date posted: April 13, 2018. Answers (1)
- What is the meaning of "Sign up?"(Solved)
Explain the meaning of "Sign up"
Date posted: April 13, 2018. Answers (1)
- What is the meaning of Sign In/ Login, logging in or logging on terminologies?(Solved)
Explain the meaning of Sign In/ Login, logging in or logging on terminologies.
Date posted: April 13, 2018. Answers (1)
- What is File Transfer Protocol(FTP)?(Solved)
Define File Transfer Protocol(FTP)
Date posted: April 13, 2018. Answers (1)