Chapter 8, Problem 2OC

Explanation of Solution

Using data analysis techniques to understand the operation of business:

The following data analysis techniques and their activities can be used to understand the operation of a business.

Business Understanding:

It will give an understanding of the business problem that have to be solved and its impact on the company. Their main activities include identifying business goals, creating project plan, defining data-mining goals, and situation assessment.

Data Understanding:

It analyses the current data and identify the data quality issues. Their main activities include gathering, describing, exploring data and verifying the quality of the data.

Data Preparation:

It will collect and organize the data in proper formats and then will structure for analysis...