Data

• What is big data?

  The process of collecting and analyzing large data sets
• Why is big data important in decision-making?

  It identifies trends and patterns for decisions
• What types of data sets are included in big data?

  Structured and unstructured data sets
• Give an example of structured data.

  Sales transactions from an online store
• Give an example of unstructured data.

  Posts on social media
• What is one source of data generated in big data?

  Retail e-commerce databases
• What is another source of data generated in big data?

  User-interactions with websites and apps
• What is a third source of data generated in big data?

  Social media data
• How is big data used in marketing insights?

  It analyzes transactions and customer feedback
• What is one key use of big data in decision-making?

  Analyzing real-time impact of pricing changes
• How does big data improve security in business systems?

  It identifies unusual activity in secure-access systems
• How does big data help in capacity management?

  It informs decision-making about capacity management
• What is the unique selling proposition (USP) of big data?

  Meeting individual needs, not overall target audience
• What is data mining?

  The process of analyzing data from different perspectives
• What is one benefit of effective data mining?

  Identifying previously unseen relationships between data sets
• How does data mining help predict future trends?

  By analyzing past behaviors and patterns
• What is one actionable strategy generated from data mining?

  Positioning and targeting for market segments
• How does data mining support marketing competitiveness?

  By providing insights into customer purchasing patterns
• What is sales forecasting in data mining?

  Analyzing when customers bought to predict future purchases
• What is database marketing?

  Examining customer purchasing patterns and demographics
• What is market segmentation in data mining?

  Breaking down a market into meaningful segments
• What is e-commerce basket analysis?

  Using mined data to predict future customer behavior
• What are the key uses of big data?

  • Tracking performance and reliability of equipment
  • Generating marketing insights from customer data
  • Improved decision-making through real-time analysis
  • Enhanced security by identifying unusual activities
  • Efficient capacity management in logistics and transportation
• What are the potential business benefits of data mining?

  • Identifying unseen relationships in data
  • Predicting future trends and behaviors
  • Extracting commercial insights from data
  • Generating actionable strategies based on insights
• What are the applications of data mining in marketing?

  • Sales forecasting based on customer buying patterns
  • Database marketing for predictive customer profiles
  • Market segmentation for targeted marketing strategies
  • E-commerce basket analysis for predicting behavior