In this assignment, you will analyze current data mining practices and evaluate the pros and cons of data mining. Provide one example of a company that has successfully practiced data mining and discuss why they were successful. Then, research a company that experienced a failed data mining practice. What data mining best practices could they have implemented to avoid this failure?
In your paper,
- Discuss the industry standards for data mining best practices.
- Identify pitfalls in data mining, including practices that should be avoided.
- Provide an example of company that has successfully practiced data mining. What steps and precautions did they take to ensure the success of their data mining endeavor? How did they keep customer data safe?
- In a second example, research a company that experienced a failed data mining experience. What pitfalls did the organization fall into? What would you have done differently?
The Data Mining Best Practices paper