Question: Data & Competitive Advantage If you had to explain to a family member or friend what 'data mining' was, how would you go about it?

Data & Competitive Advantage

If you had to explain to a family member or friend what 'data mining' was, how would you go about it? For data mining to work, what two critical data-related conditions must be present?

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8. What are the costs of collecting the information?

6. How great is the time-lag between when an event occurs until we get information about it?

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