Predictive analytics I CHAPTER Data mining process, Methods, and algorithms Learning Objectives for Chapter 4 Define data Understand the objectives and benefits of data mining Become familiar with the wide range of applications of data mining Learn the standardized data mining processes Learn d ifferent methods and algorithms of data mining Build awareness of the existing data mining software tools Understand the privacy issues, pitfalls, and myths of data mining CHAPTER OVERVIEW Generally speaking, data mining is a way to develop intelligence (i.e, actionable information or knowledge) from data that an organization collects, organizes, and stores understand ing of their customers and their own operations and to solve compler a better a wide range of data mining techniques are being used by organizations to gain a better organizational problems In this chapter, we study data mining as an enabling technology for business analytics learn about the standard processes of conducting data mining projects, understand and build expertise in the use of major data mining techniques, develop awareness of the existing software tools, and explore privacy issues, and common myths and pitfalls that are often associated with data mining Copyright C2018 Pearson Education, Inc.1 Copyright © 2018Pearson Education, Inc. Predictive Analytics I: Data Mining Process, Methods, and Algorithms Learning Objectives for Chapter 4 ▪ Define data mining as an enabling technology for business analytics ▪ Understand the objectives and benefits of data mining ▪ Become familiar with the wide range of applications of data mining ▪ Learn the standardized data mining processes ▪ Learn different methods and algorithms of data mining ▪ Build awareness of the existing data mining software tools ▪ Understand the privacy issues, pitfalls, and myths of data mining CHAPTER OVERVIEW Generally speaking, data mining is a way to develop intelligence (i.e., actionable information or knowledge) from data that an organization collects, organizes, and stores. A wide range of data mining techniques are being used by organizations to gain a better understanding of their customers and their own operations and to solve complex organizational problems. In this chapter, we study data mining as an enabling technology for business analytics, learn about the standard processes of conducting data mining projects, understand and build expertise in the use of major data mining techniques, develop awareness of the existing software tools, and explore privacy issues, and common myths and pitfalls that are often associated with data mining. CHAPTER 4