Question

In: Operations Management

1 - Define the data mining technique of cause-and-effect modeling. Provide an example to illustrate cause-and-effect...

1 - Define the data mining technique of cause-and-effect modeling. Provide an example to illustrate cause-and-effect modeling that is taken from your own workplace (past or present)?

Solutions

Expert Solution

Data mining technique is a sophistical technology enabled tool to analyse certain patterns in behaviors, activities, phenomenon from a huge database to find out the most relevant set of data exhibiting these patterns and behaviors which may be useful for decision making process of the organisation. In cause and effect modeling, the patterns and behaviors of certain factors may be used to attribute the outcomes to potential causes which might have contributed to the effect.

AN example illustrating the cause and effect modelling is to find out the reasons attributing to the rising accidents on the city roads. By mining the data of all major or minor accidents occured in the past six months with regards to the circumstances prevailing at the time of accident, the police reports and inputs from hospital, judicial bodies and insurance companies, the patterns in the accidents were analysed to find out the root cause of the issue.


Related Solutions

What are some pros and cons to data mining? Provide an example of when data mining...
What are some pros and cons to data mining? Provide an example of when data mining was used and the outcome provided an incorrect assumption or issue. How can these types of situations be avoided in the future?
Provide an example on how data mining can turn a large collection of data into knowledge...
Provide an example on how data mining can turn a large collection of data into knowledge that can help meet a current global challenge in order to improve healthcare outcomes.
Define: primary & secondary infection. [3 marks] Provide a specific example to illustrate this. [2 marks]
Define: primary & secondary infection. [3 marks] Provide a specific example to illustrate this. [2 marks]
Define Data Mining. Use examples / illustrations to reflect the use of data mining for financial...
Define Data Mining. Use examples / illustrations to reflect the use of data mining for financial statement analysis (600 words).
1.     Define the terms molecular formula and empirical formula and give an example to illustrate.  ...
1.     Define the terms molecular formula and empirical formula and give an example to illustrate.     2.     You are given a magnesium ribbon weighing 0.042 g. You perform a combustion reaction to synthesize magnesium oxide yielding a final product mass of 0.070 g.  What is the empirical formula of the metal oxide?  (Show all work.)
Define each and provide an example. -1 Randomization “ Data Collection” -2Population Parameter -3 Subjectivity -4...
Define each and provide an example. -1 Randomization “ Data Collection” -2Population Parameter -3 Subjectivity -4 Null Hypothesis
1) What is the principle of double entry accounting? Provide an example that would illustrate this...
1) What is the principle of double entry accounting? Provide an example that would illustrate this principle. (100–120 words) 2) Explain what a general journal is; describe the process of entering a correcting entry then explain the general principles for reconciling balances outstanding and how would you enter something from the statement that decreases the bank balance. (100–160 words)
2. ___ is an unsupervised data mining technique requiring no a priori hypothesis or model about...
2. ___ is an unsupervised data mining technique requiring no a priori hypothesis or model about initial patterns or relationships that may exist within the data. A) Regression Analysis B) Clustering Analysis C) Neural Networks D) Decision Trees 3. Which of the following are potential data quality concerns? A) Dirty data B) Missing values C) Inconsistent data D) Data not integrated E) All of the above 6. An analyst attempts to investigate how the customer’s yearly incomes influence their average...
Define and illustrate a welfare-reducing trade diversion effect of a customs union.
Define and illustrate a welfare-reducing trade diversion effect of a customs union.
Explain the circumstances in which the auditor can use data mining as an audit technique Formulate...
Explain the circumstances in which the auditor can use data mining as an audit technique Formulate audit procedures to test assertion over investment property valuation at fair value
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT