Question

In: Computer Science

TEXT MINING CASE STUDY 1. What challenges does the increase in unstructured data present for businesses?...

TEXT MINING CASE STUDY

1. What challenges does the increase in unstructured data present for businesses?

2. How does text-mining improve decision-making?


3. What kinds of companies are most likely to benefit from text mining software? Explain your answer.


4. In what ways could text mining potentially lead to the erosion of personal information privacy? Explain.

Solutions

Expert Solution

Q1. What challenges does the increase in unstructured data present for businesses?
Answer:--------

Text mining enables many companies to respond to their customers satisfaction surveys, and web mining enables many web search engines to facilitate collecting data that people need to be more profitable. Now, a huge amount of unstructured data is distributed by these systems. A manager is able to use this system and make an accurate decision for unprecedented cases. information Business intelligence tools deal primarily with data that have been structured in databases and files. However, unstructured data, mostly the kind
of data we generate in e-mails, phone conversations,
blog postings, online customer surveys, and tweets are all valuable for finding patterns and trends that will help employees make better business decisions.
Text mining tools are now available to help businesses analyze these data. These tools are able to extract key elements from large unstructured data sets, discover patterns and relationships, and summarize the information. Businesses might turn to text mining to analyze transcripts of calls to customer service centers to identify major service and repair issues.

Q2. How does text-mining improve decision-making?
Answer:--------
Text mining system enables airlines to rapidly extract customer sentiments, preferences, and requests for example, when the airlines suffered from unprecedented levels of customer discontent in the wake of a February ice storm in 2007. Managers were concerned about their reputation degrading but there had been no means to glean their responses without text mining. Fortunately, they could make decisions and figure out a lot of measures to respond to customers’ discontent. The reason is that text mining facilitates gleaning from many unstructured text data and compiles them. This data wouldn’t be analyzed by decision making systems like MIS and DSS because text mining is not structured data. Text mining is indispensable for decision making of unstructured data. text mining improve in decition making by Offering unique insights into customer behaviour and attitudes.

Q3. What kinds of companies are most likely to benefit from text mining software?Explain your answer.
Answer:--------
In the past, only government and large companies tend to use text mining system but now, text mining system can be geared towards small businesses. Restaurants, hotels, supermarkets etc. are applying the system and able to make a decision as well as earn profits. Every company is able to use both structured data and unstructured data. Above all, internet search engines like Google and Yahoo are doing good business because they used AdWord and AdSence which efficient advertising system is kind of web mining.


Q4. In what ways could text mining potentially lead to the erosion of personal information privacy? Explain.
Answer:--------

Nowadays, companies tend to use and manage personal information for their business. Mobile phone companies manages huge amount of privacy data as structured data. However sometimes hacker invade this data and abuse it.
According to text mining, some companies use personal information as unstructured data which is gathered from survey or questionnaires. This case is different from structured data because unstructured and mining data is not provided by customer. There is a risk to occur some unprecedented accidents.


Related Solutions

Motherland school is considering to purchase text mining software to analyze unstructured data both in the...
Motherland school is considering to purchase text mining software to analyze unstructured data both in the form of offline and online reports. What are the important factors school should consider while making the decision?
1) What is Big Data? 2) What challenges and risks does Big Data present to business?...
1) What is Big Data? 2) What challenges and risks does Big Data present to business? 3) Provide one or more example of the use and benefits of Big Data
What is Data mining in healthcare? Explain briefly the most common challenges of data mining on...
What is Data mining in healthcare? Explain briefly the most common challenges of data mining on Medical Databases? add the references at the end of your paper
What challenges does your organization face in ensuring that the data mining models are receiving clean data?
You are a data mining consultant hired by your organization to implement a data mining process. What challenges does your organization face in ensuring that the data mining models are receiving clean data?
What are the Deep Mining - challanges & case study in the last 5 years ?...
What are the Deep Mining - challanges & case study in the last 5 years ? please explain & give some examples. Thank you.
For application case 4.6 – Data Mining Goes to Hollywood, describe the research study, the methodology,...
For application case 4.6 – Data Mining Goes to Hollywood, describe the research study, the methodology, the results and the conclusion. Data Mining Goes to Hollywood: Predicting Financial Success of Movies Predicting box-office receipts (i.e., financial success) of a particular motion picture is an interesting and challenging problem. According to some domain experts, the movie industry is the “land of hunches and wild guesses” due to the difficulty associated with forecasting product demand, making the movie business in Hollywood a...
What is data mining? What are the steps in the data mining pipeline? What are the...
What is data mining? What are the steps in the data mining pipeline? What are the different kinds of tasks in data mining? What are the different types of data? How do you manage data quality? What is sampling? How do you design algorithms for sampling? How do you compute similarity and dissimilarity in data? How do you mine frequent itemsets and discover association rules from transaction data? How are space constraints handles in transactional data while designing algorithms to...
Edited****There is not a case study. This is the question in the text.********* This question is...
Edited****There is not a case study. This is the question in the text.********* This question is in reference to the healthcare industry. Briefly describe what happens to each of the following as volume increases. Assume all values stay within their relevant range. Total fixed cost? Total variable cost? Fixed cost per unit? Variable cost per unit? Explain the relationship between step-fixed costs and the relevant range. References would be a bonus! This question is found on page 448 in Financial...
What is Data mining application and how does it work in telemedicine?
What is Data mining application and how does it work in telemedicine?
What is Omni-Channel Distribution and what challenges does it present for Supply Chain Managers?
What is Omni-Channel Distribution and what challenges does it present for Supply Chain Managers?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT