Essay: Data mining and business intelligence

Question 1
Retailers, more so omni-channel retailers, should be extra attentive to advanced analytics as well as data mining since;
a. There is first hand information that is important in making of decisions as regards the business.
b. The large pool of data available is essential in risk management and thus ensuring that the business remains competitive in the market.
Question 2 (1)
Multi channel retails are faced with a number of shortcomings especially the inability to create a synchronized customer base. This is due to the changing likes, dislikes, wants and needs of the customer.
Another industry segment that faces similar problems as the multi channel retails is door to door.
Question 2 (2)
Multi channel retail are faced with complex and diverse pool of data that requires a lot of time to prepare and analyze.
Order retailing also faces similar problems as that of multi channel retailing.
Question 3
Government agencies stand as one of the sources of data mining.
A credible source of data mining is a government agency.
Question 4 (1)
The single view of the customer means being able to bring all the different dimensions of a customer to have a holistic view.
A single view of a customer can be accomplished through understanding the customer through their diverse needs and expenses.
Question 4(2)
Question 5
Answer 1
The input from Cabela in using analytic help was essential in increasing their understanding on the value that a customer has.
Another potential benefit is the protection of market share.
Answer 2
The input from Cabela in using analytic help was essential in increasing sales by coming up with proper marketing and promotional tools.
Another potential benefit is improving customer relationship.
Question 6
Cabela’s action of bringing in the two upfront dealers is that it enabled personalization and estimation of sales.
This is essential in risk management.
Question 7
Answer 1
According to Sharda, Turban & Delen(2014),in-database analytics is a system of processing information that is stored in the database.
It’s important in the prediction of various dimensions such as profitability.
Answer 2
In database analytics is a process where data is integrated to prevent moving of large pools of data.
It helps in analysis reporting.
References
Sharda, R., Turban, E. & Delen, D. (2014). Business Intelligence and Analytics: Systems for Decision Support, Global Edition. New York, NY: Pearson Education Limited.