What is Data Mining?

• The process of deleting data sets to reduce storage space

• The process of sorting through large data sets to identify patterns and relationships

• The process of creating new data sets from scratch

• The process of encrypting data sets for security purposes

Which industry can use data mining to predict customer behavior and offer targeted ads?

• Retail

• Healthcare

• Telecommunications and Media

• Manufacturing

What do insurance companies use data mining for?

• Identify product associations in supermarkets

• Implement just-in-time fulfillment

• Create complex models for detecting fraudulent claims

• Maximize stock market returns

What is regression used for in data mining?

• Grouping data points based on characteristics

• Identifying and analyzing the relationship between variables

• Finding correlations between data points

• Calculating probabilities of future outcomes

Which technique is used to group data points based on their characteristics and does not need class labels?

• Association Rules

• Classification

• Clustering

• Prediction

How do supermarkets use data mining?

• To identify product associations for aisles and shelves placement

• To create complex models for risk management

• To help create more accurate diagnoses of patients

• To maximize stock market returns

What is the purpose of prediction in data mining?

• To group data points based on characteristics

• To find correlations between data points

• To calculate probabilities of future outcomes

• To identify and analyze the relationship between variables

Which industry uses data mining to help doctors create more accurate diagnoses?

• Finance

• Healthcare

• Telecommunications and Media

• Manufacturing

What is the process of assigning data points to categories based on their usage and needs class labels?

• Association Rules

• Classification

• Regression

• Clustering

How do financial companies use data mining?

• To maximize stock market returns

• To identify product associations in supermarkets

• To create complex models for detecting fraudulent claims

• For better market risk evaluation