Your manager is curious if data mining is a good idea for his or her medium-sized business that is operating within the U.S.

BIAM300 Managerial Applications of Business Analytics

Week 5 Lab  

Scenario:

Your manager is curious if data mining is a good idea for his or her medium-sized business that is operating within the U.S. You have been tasked to answer some of the questions that your manager has. Prepare a report that answers the following questions.

What are the pros and cons of using data mining?

What tools are available to help with data mining?

What tools are high cost, and what tools are low cost?

How long would it take to be up and running with data mining?

Does a third-party vendor make it easier to data mine?

Give two examples of businesses that successfully use the data mining process.

Step 1: Reporting Requirements

You are anxious to complete the assignment that your manager has given you. Please do some research at library.devry.edu or the internet.

Answer the six questions the manager has listed above.

Write a report for your manager that includes the answers to the questions posed, including good examples.

The report should be three to five pages with a title page using APA formatting. Don’t forget to add references for your sources of information or charts.

Step 2: Submit Work

Save and submit your MS Word document.