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MIS 301 Question and answers already passed 2024

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MIS 301 Question and answers already passed 2024 Data Mining - correct answer Non-trivial discovery of novel, valid, comprehensible, and potentially useful patterns in data Storage capacity is ________ as cost is decreasing - correct answer increasing Sources of Data - correct answer I...

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  • August 27, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mis 301
  • mis 301 question and answers already passed 2024

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  • MIC 301
  • MIC 301

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MIS 301: Data Mining
Data Mining - correct answer ✔Non-trivial discovery of novel, valid,
comprehensible, and potentially useful patterns in data


Storage capacity is ________ as cost is decreasing - correct answer
✔increasing


Sources of Data - correct answer ✔Internal operation systems, bought from
other sources, social networking, user-generated content, transactional data
from company operations


Problems with Operational Data - correct answer ✔Dirty data, missing
values, inconsistent data, too fine or too course, too much data


Purpose of Operational Data Dashboard - correct answer ✔For executives to
look at anomalies and analyze or monitor KPI's


Business Intelligence Systems - correct answer ✔Unified reporting and
analysis system for organizational decision making using data


Value of Business Intelligence Tools - correct answer ✔Analyze data, look
for patterns, share information with business partners, manage inventory,
design marketing strategies


Primary systems in Business Intelligence - correct answer ✔Reporting
systems, data-mining systems, knowledge management systems, expert
systems

, Reporting systems - correct answer ✔Integrate and process data by sorting,
grouping, summing, and formatting. Produce, administer, and deliver reports.


How do reporting systems improve decision making? - correct answer
✔Provide right information to the right user at the right time


Data mining systems - correct answer ✔Use sophisticated statistical
techniques, like regression and decision tree analysis, to find patterns and
relationships


Example uses of a data mining system - correct answer ✔Database
marketing and targeting, credit risk management, credit scoring, fraud
detection and prevention, healthcare bioinformatics, spam filtering,
recommendation systems, sentiment analysis, qualitative data mining


Steps of data mining - correct answer ✔Business understanding, data
understanding, data prep, data modeling, evaluation, deployment


Benefits of data mining - correct answer ✔Automated decision making,
accurate prediction forecasting, reduce cost, provide customer insights


Automated Decision Making - correct answer ✔Allows continual analysis of
that that automates routine and critical decision making


Accurate Prediction Forecasting - correct answer ✔Facilitates planning and
provides managers with reliable forecasts of trends using data from past and
present trends


Cost Reduction - correct answer ✔Efficiently allocates companies resources
to maximize return and minimize losses

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