59)The is the most commonly used algorithm to discover association rules. Given a set of itemsets, the algorithm attempts to find subsets that are common to at least a minimum number of the itemsets Answer: Apriori algorithm Diff: 2 Page Ref: 229 60)One way to accomplish privacy and protection of individuals rights when data mining is by of the customer records prior to applying data mining applications, so that the records cannot be traced to an individual Answer: de-identification Diff: 2 Page Ref: 237 61)List five reasons for the growing popularity of data mining in the business world nswer More intense competition at the global scale driven by customers' ever-changing needs and wants in an increasingly saturated marketplace General recognition of the untapped value hidden in large data sources Consolidation and integration of database records, which enables a single view of customers vendors transactions etc Consolidation of databases and other data repositories into a single location in the form of a data warehouse The exponential increase in data processing and storage technologies Significant reduction in the cost of hardware and software for data storage and processing Movement toward the demassification(conversion of information resources into nonphysical form)of business practices Diff:2 Page Ref: 194 62)List 3 common data mining myths and realities Answ 1)Myth: Data mining provides instant, crystal-ball-like predictions Reality: Data mining is a multistep process that requires deliberate, proactive design and use 2)Myth: Data mining is not yet viable for mainstream business applications Reality: The current state of the art is ready to go for almost any business type and/or size 3)Myth: Data mining requires a separate, dedicated database Reality: Because of the advances in database technology, a dedicated database is not required 4)Myth: Only those with advanced degrees can do data mining Reality: Newer Web-based tools enable managers of all educational levels to do data mining 5)Myth: Data mining is only for large firms that have lots of customer data Reality: If the data accurately reflect the business or its customers, any company can use data mining Diff: 2 Page Ref: 239 9 Copyright C 2018 Pearson Education, Inc9 Copyright © 2018 Pearson Education, Inc. 59) The ________ is the most commonly used algorithm to discover association rules. Given a set of itemsets, the algorithm attempts to find subsets that are common to at least a minimum number of the itemsets. Answer: Apriori algorithm Diff: 2 Page Ref: 229 60) One way to accomplish privacy and protection of individuals' rights when data mining is by ________ of the customer records prior to applying data mining applications, so that the records cannot be traced to an individual. Answer: de-identification Diff: 2 Page Ref: 237 61) List five reasons for the growing popularity of data mining in the business world. Answer: • More intense competition at the global scale driven by customers' ever-changing needs and wants in an increasingly saturated marketplace • General recognition of the untapped value hidden in large data sources • Consolidation and integration of database records, which enables a single view of customers, vendors, transactions, etc. • Consolidation of databases and other data repositories into a single location in the form of a data warehouse • The exponential increase in data processing and storage technologies • Significant reduction in the cost of hardware and software for data storage and processing • Movement toward the demassification (conversion of information resources into nonphysical form) of business practices Diff: 2 Page Ref: 194 62) List 3 common data mining myths and realities. Answer: 1) Myth: Data mining provides instant, crystal-ball-like predictions. Reality: Data mining is a multistep process that requires deliberate, proactive design and use. 2) Myth: Data mining is not yet viable for mainstream business applications. Reality: The current state of the art is ready to go for almost any business type and/or size. 3) Myth: Data mining requires a separate, dedicated database. Reality: Because of the advances in database technology, a dedicated database is not required. 4) Myth: Only those with advanced degrees can do data mining. Reality: Newer Web-based tools enable managers of all educational levels to do data mining. 5) Myth: Data mining is only for large firms that have lots of customer data. Reality: If the data accurately reflect the business or its customers, any company can use data mining. Diff: 2 Page Ref: 239