Data mining helps banks in which of the following ways? Credit scoring and risk management Increasing loan interest rates Reducing customer service Eliminating online services

Credit scoring and risk management

How does data mining support decision-making processes? By providing actionable insights By increasing decision ambiguity By reducing data availability By limiting analytical methods

By providing actionable insights

What is a key benefit of data mining in the business sector? Increased data storage costs Enhanced decision-making processes Reduced employee productivity Decreased customer satisfaction

Enhanced decision-making processes

In healthcare, data mining is primarily used to: Develop new surgical techniques Predict patient outcomes and improve treatments Increase administrative paperwork Limit access to patient data

Predict patient outcomes and improve treatments

How does data mining enhance marketing strategies? By reducing target audience size By personalizing customer experiences By increasing advertising costs By limiting data analysis

By personalizing customer experiences

In social media, what role does data mining play? It decreases user engagement It allows for targeted advertising and trend analysis It reduces data collection It prevents content sharing

It allows for targeted advertising and trend analysis

Which historical development significantly advanced data mining techniques? Introduction of the printing press Development of machine learning algorithms Industrial Revolution Discovery of electricity

Development of machine learning algorithms

Which of the following is a practical application of data mining in retail? Improving supply chain inefficiencies Developing new weather models Enhancing agricultural yield Designing aerospace components

Improving supply chain inefficiencies

In what way does data mining contribute to competitive advantage? By standardizing all business processes By providing unique insights into customer behavior By eliminating market competition By reducing technological advancements

By providing unique insights into customer behavior

What is the primary purpose of data mining in business? To enhance decision-making processes To increase employee satisfaction To reduce product prices To improve office decor

To enhance decision-making processes

What role does data mining play in social media platforms? It helps in personalizing user content It measures server temperature It manages office supplies It organizes company picnics

It helps in personalizing user content

Which technological advancement in the 1990s played a crucial role in the growth of data mining? Development of the internet Introduction of personal computers Advancements in machine learning Invention of the microprocessor

Advancements in machine learning

What is the significance of the Knowledge Discovery in Databases (KDD) process introduced in the 1990s? It standardized data mining procedures It introduced new data storage methods It emphasized data visualization techniques It focused on data cleaning and preprocessing

It standardized data mining procedures

What was a significant impact of the introduction of OLAP (Online Analytical Processing) in the 1990s? It allowed for real-time data processing It improved data visualization It facilitated complex analytical queries It reduced storage costs

It facilitated complex analytical queries

In the evolution of data mining, what role did the establishment of data standards play during the 1990s? It facilitated the integration of heterogeneous data sources It led to the development of proprietary database systems It improved the accuracy of predictive models It reduced the complexity of data mining algorithms

It facilitated the integration of heterogeneous data sources

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