Which three of the following best describe useful applications of data mining?
A) Building up customer purchase histories to target promotions
B) Credit risk assessment in financial services
C) Creating address- merge mailing to specific customers
D) Accurately and rapidly carrying out payroll calculations
E) Identifying underlying drivers of demand (e.g. demographic factors)

Question

Quizplus · Accepted Answer

Data mining is useful for analyzing large datasets to uncover patterns and insights. Building customer purchase histories (A) helps target promotions effectively. Credit risk assessment (B) uses data mining to evaluate financial risk. Identifying drivers of demand (E) involves analyzing data to understand factors influencing demand. Address-merge mailing (C) and payroll calculations (D) are more about data processing and automation rather than mining insights.

Which Three of the Following Best Describe Useful Applications of Data