Data mining is the knowledge discovery procedure of automated extraction of hidden predictive information from large databases.
problem 1: Illustrate the four (4) main steps which are involved in the data mining process.
problem 2: There are different data mining methods dealing with diverse types of problems. Give illustration of any three methods which could be used in the supermarket.
problem 3: To better exploit data mining what are the pre-requisites for the data warehouse?
problem 4: Discuss and describe the two (2) critical factors which can influence success with the application of data mining technology.
problem 4: Data mining being relatively the new technology, what advantages would an Insurance company accomplished for implementing such the method? Demonstrate your answer with some illustrations.