Data Mining and Predictive Analytics Essay

Submitted By AAGARD
Words: 363
Pages: 2

1-What are the four types of decision discussed in this chapter? Give an example of each.
Nonrecurring decision is one that you make infrequently, or only once, An example is a merger with another company. Recurring decisions are decisions that have to be made repeatedly and often periodically. An example would be which route to take to go to work. Nonstructured decision is a decision for which there may be several answers and there is no precise way to get a right answer. An example would be whether or not to change a company's strategy. Structured decision is a decision where processing information in a specified way so that you will always get the right answer. An example would be deciding how much to pay employees
2-What are the four steps in making a decision?
The four steps are intelligence, design, choice, and implementation.
3-What are the three components of a decision support system?
The three components of a DSS are model management, data management, and user interface management.
4-What type of information is a geographic information system designed specifically to work with? A geographic information system is used for any type of information that can be represented spatially.
5-What are the five intelligence-related tasks that data-mining tools and models help you address?
Data mining tools and models help address association or dependency modeling, clustering, regression, classification, and summarization.
6-What is predictive analytics?
Predictive analytics is a data-mining technology that uses business intelligence and information to…