Week 7

Question 1

Data Mining -

Answer 1

• PREDICTIVE
  ANALYTICS -

Question 2

Data Science vs Data Mining vs BI

Answer 2

Data Science emphasises statistical and algorithmic methods in dealing with large data sets. Focuses on data breadth
* Data Mining focuses on techniques to dig deeply into a robust set of data and provides more classical analyses. Focuses on data depth
* Business Intelligence: reflects the needs of the business, utilising data
(typically through dynamic reporting) to provide business synthesis

Question 3

Data Mining - DESCRIPTIVE

Answer 3

What happened in the past – uses existing data - reactive

Question 4

Data Mining - Prescriptive

Answer 4

Uses past data to forecast the future - proactive