Business Analysis Report Based on Data Mining Concepts - Business Assignment Help

Assignment Task

    
Business understanding  
1. Determine business objectives 
Task: Determine business objectives 
The first objective of the analyst is to thoroughly understand, from a business  perspective, what the client really wants to accomplish. Often the customer has many  competing objectives and constraints that must be properly balanced. The analyst’s goal  is to uncover important factors at the beginning of the project that can influence the final  outcome. 
1.2 Output: Business objectives (100 words) 
Describe the customer’s primary objective, from a business perspective, in the data  mining project. In addition to the primary business objective, there are typically a large  number of related business questions that the customer would like to address. For  example, the primary business goal might be to keep current customers by predicting  when they are prone to move to a competitor, while secondary business objectives might  be to determine whether lower fees affect only one particular segment of customers. Informally describe the problem which is supposed to be solved with data mining.  Specify all business questions as precisely as possible. Specify any other business  requirements (e.g., the business does not want to lose any customers). Specify  expected benefits in business terms. 
1.3 Output: Business success criteria (100 words) 
Describe the criteria for a successful or useful outcome to the project from the business  point of view. This might be quite specific and readily measurable, such as reduction of  customer churn to a certain level or general and subjective such as “give useful insights  into the relationships.” In the latter case it should be indicated who would make the  subjective judgment. Specify business success criteria (e.g., enrolment rate increased  by 20 percent). Identify who assesses the success criteria. Each of the success criteria  should relate to at least one of the specified business objectives. 

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