Week 9 - Data Mining (Regression and Classification)

Question 1

What is Data Mining?

Answer 1

knowledge discovery from data

Question 2

What is an example of a data mining application?

Answer 2

CRM- improve cx retention maximize cx value, identify most valued cx

Question 3

Main types of data mining methods

Answer 3

1. prediction
2. classification
3. clustering
4. associations
5. time series (not used in this unit)

Question 4

What is the algorithm for prediction?

Answer 4

regression

Question 5

What is the algorithm for classification?

Answer 5

decision tree

Question 6

What is the algorithm for clusteirng?

Answer 6

k-mean

Question 7

What is the algorithm for associsations?

Answer 7

apriori

Question 8

What is the data mining method prediction?

Answer 8

tells nature of future occurrence of certain events based on what happened in the past

Question 9

What is involved in the algorithm regression?

Answer 9

investigates relationship between dependent variable (target) (y) and independent variable (predictor) (x)

Question 10

What is the data mining method classification?

Answer 10

learn from past data to classify new data

Question 11

What is involved in the algorithm decision-tree?

Answer 11

history of data is used to make tree-like model that acts as a decision support tool

Question 12

What is the difference between classification and prediction (regression)?

Answer 12

-prediction is for numeric values
-classification is for class labels