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Assignment #2.docx

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Department
Information Systems
Course
ISYS 1021
Professor
Ransbotham/ Xu
Semester
Fall

Description
Chantz Delgado Assignment #2 1) I can understand why people will be concerned because as these companies obtain  more data but the individual, privacy is easily lost. Consequently, for companies,  it can provide the ideal competitive advantage over its peers. The prime examples  are Zara, Netflix, Google, and Wal­Mart. If it were not for their data mastery, they  would not have excelled. I feel like rare, valuable data is a true strategic asset  when it is lacking a substitute. Ultimately, I am not concerned by the collection  and uses of data because our technology is rapidly increasing due to crucial data.  The amount of data on corporate hard drives doubles every six months. Data can  be applied to lowering costs, increasing customer service, and other ways that  boost performance that are never something negative. When you turn the data into  information, the positive definitely outweighs the negative. I will definitely give  up a little privacy to help further technology. 2) Some of the key areas where businesses are leveraging data mining include the  following: Customer Segmentation which figures out which customers are likely  to be the most valuable to a firm, Marketing and Promotion Targeting which  identifies those customers that will respond to which offers at which price and  what time, Market Basket Analysis which is used to determine which products  customers buy together, and how an organization can use this information to  cross­sell more products or services, Collaborative Filtering which personalizes  an individual customer’s experience based on the trends and preferences  identified across similar customers, Customer Churn is determining which  customers are likely to leave, and what tactics can help the firm avoid unwanted  defections, Fraud Detection wh
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